GCC: Fresh Pork Carcase Market 2024

Fresh Pork Carcase Market Size in GCC

The GCC fresh pork carcase market fell modestly to $X in 2022, which is down by -2.4% against the previous year. The total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.6% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Fresh Pork Carcase Production in GCC

In value terms, fresh pork carcase production shrank modestly to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.2% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 54%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were the United Arab Emirates (X tons) and Oman (X tons).

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Oman (with a CAGR of +5.4%).

Fresh Pork Carcase Exports

Exports in GCC

In 2022, approx. X tons of fresh or chilled carcases of pig meat were exported in GCC; increasing by 20% on the previous year's figure. Overall, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2019 when exports increased by 1,104% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, fresh pork carcase exports surged to $X in 2022. Over the period under review, exports recorded a significant increase. The growth pace was the most rapid in 2019 when exports increased by 2,702%. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Oman (X tons) represented roughly 99% of total exports in 2022.

Oman was also the fastest-growing in terms of the fresh or chilled carcases of pig meat exports, with a CAGR of +60.2% from 2012 to 2022. From 2012 to 2022, the share of Oman increased by +98 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Oman ($X) also remains the largest fresh pork carcase supplier in GCC.

In Oman, fresh pork carcase exports expanded at an average annual rate of +42.6% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, growing by 22% against the previous year. Export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh pork carcase export price decreased by -27.7% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the export price increased by 133%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Oman.

From 2012 to 2022, the rate of growth in terms of prices for Oman amounted to -11.0% per year.

Fresh Pork Carcase Imports

Imports in GCC

In 2022, approx. X tons of fresh or chilled carcases of pig meat were imported in GCC; dropping by -33.1% on the year before. Overall, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 159%. Over the period under review, imports attained the peak figure at X tons in 2021, and then declined rapidly in the following year.

In value terms, fresh pork carcase imports fell remarkably to $X in 2022. In general, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 160%. Over the period under review, imports hit record highs at $X in 2021, and then declined notably in the following year.

Imports by Country

Kuwait was the main importing country with an import of about X tons, which accounted for 75% of total imports. Oman (X tons) held the second position in the ranking, followed by the United Arab Emirates (X tons). All these countries together held near 25% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to fresh pork carcase imports into Kuwait stood at +38.4%. At the same time, the United Arab Emirates (+38.5%) and Oman (+20.8%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in GCC, with a CAGR of +38.5% from 2012-2022. Kuwait (+22 p.p.) and the United Arab Emirates (+3.7 p.p.) significantly strengthened its position in terms of the total imports, while Oman saw its share reduced by -21.5% from 2012 to 2022, respectively.

In value terms, Kuwait ($X) constitutes the largest market for imported fresh or chilled carcases of pig meat in GCC, comprising 77% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Kuwait stood at +54.5%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+34.2% per year) and Oman (+11.1% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, with an increase of 21% against the previous year. Import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh pork carcase import price decreased by -33.2% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the import price increased by 44% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+11.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform