GCC: Milk Market 2024

Milk Market Size in GCC

The GCC milk market reached $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Milk Production in GCC

In value terms, milk production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Saudi Arabia (X tons) remains the largest milk producing country in GCC, accounting for X% of total volume. Moreover, milk production in Saudi Arabia exceeded the figures recorded by the second-largest producer, Oman (X tons), tenfold. The United Arab Emirates (X tons) ranked third in terms of total production with a X% share.

In Saudi Arabia, milk production increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (X% per year) and the United Arab Emirates (X% per year).

Milk Exports

Exports in GCC

In 2022, exports of milk in GCC shrank to X tons, waning by X% against the previous year. Total exports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, milk exports rose remarkably to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by X%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia represented the key exporter of milk in GCC, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), creating a X% share of total exports. Kuwait (X tons) and Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to milk exports from Saudi Arabia stood at X%. At the same time, Oman (X%), Kuwait (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. The United Arab Emirates (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest milk supplier in GCC, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Kuwait, with a X% share.

In Saudi Arabia, milk exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, continues to indicate a slight reduction. Over the period under review, the export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, 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 (X%), while the other leaders experienced mixed trends in the export price figures.

Milk Imports

Imports in GCC

Milk imports fell significantly to X tons in 2022, reducing by X% against the previous year. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by X%. The volume of import peaked at X tons in 2021, and then shrank significantly in the following year.

In value terms, milk imports expanded slightly to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the main importing country with an import of about X tons, which recorded X% of total imports. Kuwait (X tons) held the second position in the ranking, followed by Oman (X tons). All these countries together held approx. X% share of total imports. The following importers - Qatar (X tons) and Bahrain (X tons) - each amounted to a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to milk imports into the United Arab Emirates stood at X%. At the same time, Kuwait (X%) and Oman (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Bahrain (X%) and Qatar (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Kuwait (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total imports, while Bahrain and Qatar saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported milk in GCC, comprising X% of total imports. The second position in the ranking was held by Kuwait ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

In the United Arab Emirates, milk imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Oman (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform