GCC: Processed Meat Market 2024

Processed Meat Market Size in GCC

The GCC processed meat market amounted to $X in 2022, with an increase of X% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value 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, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Processed Meat Production in GCC

In value terms, processed meat production rose to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Processed Meat Exports

Exports in GCC

In 2022, approx. X tons of processed meat were exported in GCC; waning by X% on 2021 figures. In general, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, processed meat exports expanded markedly to $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value 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 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

The United Arab Emirates represented the major exporter of processed meat in GCC, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. Saudi Arabia (X tons) ranks second in terms of the total exports with an X% share, followed by Kuwait (X%).

From 2012 to 2022, average annual rates of growth with regard to processed meat exports from the United Arab Emirates stood at X%. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. 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.

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

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Kuwait (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Kuwait ($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 (X%), while the other leaders experienced more modest paces of growth.

Processed Meat Imports

Imports in GCC

In 2022, imports of processed meat in GCC declined to X tons, dropping by X% compared with the year before. The total import volume 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 most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, processed meat imports reduced to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value 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, imports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Kuwait (X tons) represented roughly X% of total imports in 2022. Bahrain (X tons) took the next position in the ranking, followed by Oman (X tons) and Qatar (X tons). All these countries together took near X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Kuwait, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, approximately equating the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 an increase of X%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Kuwait ($X per ton) and the United Arab Emirates ($X per ton), while Oman ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform