Kenya: Machinery For Packing Market 2024

Machinery For Packing Market Size in Kenya

The Kenyan machinery for packing market soared to $X in 2022, growing by 17% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% 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 -21.4% against 2020 indices. Machinery for packing consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Machinery For Packing Exports

Exports from Kenya

After two years of decline, shipments abroad of machinery for packing or wrapping increased by 162% to X units in 2022. Over the period under review, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 442% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, machinery for packing exports skyrocketed to $X in 2022. Overall, exports enjoyed a moderate increase. The most prominent rate of growth was recorded in 2018 when exports increased by 410%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria (X units) was the main destination for machinery for packing exports from Kenya, with a 27% share of total exports. Moreover, machinery for packing exports to Nigeria exceeded the volume sent to the second major destination, Sri Lanka (X units), twofold. The third position in this ranking was taken by Italy (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nigeria stood at +37.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+31.7% per year) and Italy (+24.5% per year).

In value terms, Nigeria ($X) remains the key foreign market for machinery for packing or wrapping exports from Kenya, comprising 40% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with an 18% share of total exports. It was followed by Sudan, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Nigeria amounted to +45.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+40.3% per year) and Sudan (+109.7% per year).

Export Prices by Country

The average machinery for packing export price stood at $X per unit in 2022, growing by 30% against the previous year. In general, the export price, however, continues to indicate a abrupt slump. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery For Packing Imports

Imports into Kenya

Machinery for packing imports into Kenya stood at X units in 2022, surging by 11% compared with the previous year's figure. Overall, total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -32.2% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 70%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, machinery for packing imports surged to $X in 2022. In general, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -16.8% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 104% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Italy (X units) and India (X units) were the main suppliers of machinery for packing imports to Kenya, together comprising 54% of total imports. Serbia, Germany, the Netherlands, Turkey, Singapore and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +56.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest machinery for packing suppliers to Kenya were China ($X), Italy ($X) and Serbia ($X), together comprising 45% of total imports. India, the Netherlands, Germany, Singapore, Turkey and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 36%.

Among the main suppliers, Singapore, with a CAGR of +61.5%, recorded the highest growth rate of 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

In 2022, the average machinery for packing import price amounted to $X per unit, with an increase of 13% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2017 when the average import price increased by 19% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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