GCC: Market for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in GCC

The GCC market for fresh or chilled pig meat other than cuts or carcases contracted slightly to $X in 2022, reducing by -1.9% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.0% against 2020 indices. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in GCC

In value terms, production of fresh or chilled pig meat other than cuts or carcases shrank to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.0% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 122%. Over the period under review, production of hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

The country with the largest volume of production of fresh or chilled pig meat other than cuts or carcases was Saudi Arabia (X tons), comprising approx. 100% of total volume.

In Saudi Arabia, production of fresh or chilled pig meat other than cuts or carcases expanded at an average annual rate of +7.5% over the period from 2012-2022.

Exports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Exports in GCC

In 2022, the amount of fresh or chilled pig meat other than cuts or carcases exported in GCC skyrocketed to X tons, growing by 393% compared with the year before. In general, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of fresh or chilled pig meat other than cuts or carcases surged to $X in 2022. Overall, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 450%. Over the period under review, the exports of reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of fresh or chilled pig meat other than cuts or carcases, namely the United Arab Emirates, represented more than two-thirds of total export.

The United Arab Emirates was also the fastest-growing in terms of the fresh or chilled pig meat other than cuts or carcases exports, with a CAGR of +27.4% from 2012 to 2022. While the share of the United Arab Emirates (+14 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest fresh pork other than cuts or carcases supplier in GCC.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +19.3%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, waning by -69.8% against the previous year. In general, the export price saw a abrupt decline. The pace of growth was the most pronounced in 2013 when the export price increased by 73% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 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 the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -6.3% per year.

Imports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Imports in GCC

In 2022, imports of fresh or chilled pig meat other than cuts or carcases in GCC totaled X tons, almost unchanged from the previous year. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 44%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, imports of fresh or chilled pig meat other than cuts or carcases totaled $X in 2022. Over the period under review, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 73% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates dominates carcases structure, resulting at X tons, which was approx. 86% of total imports in 2022. It was distantly followed by Oman (X tons), creating an 8.4% share of total imports. The following importers - Saudi Arabia (X tons) and Kuwait (X tons) - together made up 4.9% of total imports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of fresh or chilled pig meat other than cuts or carcases. At the same time, Oman (+27.1%), Saudi Arabia (+18.8%) and Kuwait (+11.0%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +27.1% from 2012-2022. While the share of Oman (+7.6 p.p.) and Saudi Arabia (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (-9.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported fresh or chilled pig meat other than cuts or carcases in GCC, comprising 90% of total imports. The second position in the ranking was taken by Oman ($X), with a 3.2% share of total imports. It was followed by Saudi Arabia, with a 2.6% share.

In the United Arab Emirates, imports of fresh or chilled pig meat other than cuts or carcases expanded at an average annual rate of +7.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+15.1% per year) and Saudi Arabia (+32.8% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, picking up by 2% against the previous year. Over the period under review, the import price enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2017 an increase of 45%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+11.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform