GCC: Whole Fresh Milk Market 2024

Whole Fresh Milk Market Size in GCC

The GCC whole fresh milk market reached $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Whole Fresh Milk Production in GCC

In value terms, whole fresh milk production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 36% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Saudi Arabia (X tons) remains the largest whole fresh milk producing country in GCC, comprising approx. 82% of total volume. Moreover, whole fresh milk production in Saudi Arabia exceeded the figures recorded by the second-largest producer, Oman (X tons), eightfold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Saudi Arabia totaled +4.1%. The remaining producing countries recorded the following average annual rates of production growth: Oman (+7.7% per year) and the United Arab Emirates (+1.6% per year).

Whole Fresh Milk Exports

Exports in GCC

In 2022, approx. X tons of whole fresh milk were exported in GCC; with an increase of 28% compared with 2021. In general, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 36% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, whole fresh milk exports soared to $X in 2022. Over the period under review, exports, however, recorded a deep reduction. The pace of growth was the most pronounced in 2020 with an increase of 39%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates represented the key exporting country with an export of around X tons, which recorded 49% of total exports. It was distantly followed by Saudi Arabia (X tons), Kuwait (X tons), Bahrain (X tons) and Oman (X tons), together achieving a 51% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +64.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest whole fresh milk supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X), with a combined 91% share of total exports. Bahrain and Oman lagged somewhat behind, together accounting for a further 8.8%.

Oman, with a CAGR of +53.9%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, stabilizing at the previous year. Over the period under review, the export price, however, saw a perceptible decrease. The pace of growth appeared the most rapid in 2013 an increase of 18% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 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 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 Kuwait (+3.1%), while the other leaders experienced a decline in the export price figures.

Whole Fresh Milk Imports

Imports in GCC

In 2022, whole fresh milk imports in GCC fell to X tons, waning by -6.7% against the previous year. Over the period under review, imports showed a abrupt slump. The growth pace was the most rapid in 2015 with an increase of 49%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, whole fresh milk imports expanded slightly to $X in 2022. Overall, imports continue to indicate a abrupt setback. The growth pace was the most rapid in 2015 with an increase of 49% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Oman represented the major importer of whole fresh milk in GCC, with the volume of imports accounting for X tons, which was near 55% of total imports in 2022. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Qatar (X tons) and Kuwait (X tons). All these countries together held near 43% share of total imports. Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of -2.7%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest whole fresh milk importing markets in GCC were Oman ($X), the United Arab Emirates ($X) and Qatar ($X), together comprising 90% of total imports.

In terms of the main importing countries, Qatar, with a CAGR of +0.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, rising by 9.2% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the import price increased by 60% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat 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 Qatar ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform