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

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

The GCC market for frozen pig meat other than cuts or carcases shrank to $X in 2022, with a decrease of -9.8% against the previous year. Overall, consumption, however, saw a tangible increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Frozen Pig Meat Other Than Cuts Or Carcases in GCC

In value terms, production of frozen pig meat other than cuts or carcases reduced to $X in 2022 estimated in export price. In general, production, however, showed a pronounced increase. The pace of growth appeared the most rapid in 2017 with an increase of 87%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Saudi Arabia (X tons) constituted the country with the largest volume of production of frozen pig meat other than cuts or carcases, accounting for 92% of total volume. Moreover, production of frozen pig meat other than cuts or carcases in Saudi Arabia exceeded the figures recorded by the second-largest producer, Kuwait (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Saudi Arabia totaled +3.2%.

Exports of Frozen Pig Meat Other Than Cuts Or Carcases

Exports in GCC

Exports of frozen pig meat other than cuts or carcases soared to X tons in 2022, rising by 54% against the year before. Over the period under review, exports posted a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 92%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, exports of frozen pig meat other than cuts or carcases rose sharply to $X in 2022. Total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -23.5% against 2019 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 71%. Over the period under review, the exports of reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates carcases structure, finishing at X tons, which was approx. 91% of total exports in 2022. It was distantly followed by Bahrain (X tons), creating an 8.8% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the frozen pig meat other than cuts or carcases exports, with a CAGR of +17.7% from 2012 to 2022. Bahrain (-6.8%) illustrated a downward trend over the same period. The United Arab Emirates (+46 p.p.) significantly strengthened its position in terms of the total exports, while Bahrain saw its share reduced by -36.4% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest frozen pig meat other than cuts or carcases supplier in GCC, comprising 89% of total exports. The second position in the ranking was taken by Bahrain ($X), with an 11% share of total exports.

In the United Arab Emirates, exports of frozen pig meat other than cuts or carcases increased at an average annual rate of +5.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, waning by -29.2% against the previous year. In general, the export price showed a pronounced reduction. The pace of growth appeared the most rapid in 2018 an increase of 70% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+7.6%).

Imports of Frozen Pig Meat Other Than Cuts Or Carcases

Imports in GCC

In 2022, after four years of growth, there was significant decline in purchases abroad of frozen pig meat other than cuts or carcases, when their volume decreased by -10.2% to X tons. In general, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 30%. Over the period under review, imports of reached the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, imports of frozen pig meat other than cuts or carcases declined to $X in 2022. Overall, imports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2020 when imports increased by 32%. Over the period under review, imports of reached the peak figure at $X in 2021, and then dropped in the following year.

Imports by Country

The United Arab Emirates prevails in carcases structure, resulting at X tons, which was near 95% of total imports in 2022. It was distantly followed by Bahrain (X tons), constituting a 4.8% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the frozen pig meat other than cuts or carcases imports, with a CAGR of +9.4% from 2012 to 2022. At the same time, Bahrain (+6.8%) displayed positive paces of growth. From 2012 to 2022, the share of the United Arab Emirates increased by +3.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported frozen pig meat other than cuts or carcases in GCC, comprising 93% of total imports. The second position in the ranking was held by Bahrain ($X), with a 6.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +8.1%.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, with an increase of 5.1% against the previous year. In general, the import price, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2017 when the import price increased by 13%. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bahrain ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-1.2%).

Source: IndexBox Platform