Kuwait: Animal Feed Market 2024

Animal Feed Market Size in Kuwait

The Kuwaiti animal feed market reduced to $X in 2022, which is down by -6.3% against the previous year. In general, consumption, however, enjoyed a pronounced expansion. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Animal Feed Production in Kuwait

In value terms, animal feed production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, saw a measured increase. The pace of growth appeared the most rapid in 2017 with an increase of 131% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Animal Feed Exports

Exports from Kuwait

In 2022, animal feed exports from Kuwait dropped remarkably to X tons, waning by -24.1% on the previous year. Over the period under review, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 112%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, animal feed exports dropped significantly to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 112%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Qatar (X tons) was the main destination for animal feed exports from Kuwait, with a 95% share of total exports. It was followed by Belgium (X kg), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Qatar amounted to +7.6%.

In value terms, Qatar ($X) remains the key foreign market for animal and pet feed exports from Kuwait, comprising 58% of total exports. The second position in the ranking was taken by Belgium ($X), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar totaled +1.3%.

Export Prices by Country

The average animal feed export price stood at $X per ton in 2022, falling by -3.1% against the previous year. In general, the export price showed a pronounced downturn. The most prominent rate of growth was recorded in 2017 when the average export price increased by 35% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Qatar stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+28.3%), while the prices for the other major destinations experienced a decline.

Animal Feed Imports

Imports into Kuwait

In 2022, approx. X tons of animal and pet feed were imported into Kuwait; growing by 9.5% on 2021 figures. In general, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% 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 -8.3% against 2020 indices. The growth pace was the most rapid in 2016 when imports increased by 53%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, animal feed imports shrank modestly to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +8.3% 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 +57.6% against 2017 indices. The pace of growth was the most pronounced in 2016 with an increase of 25%. Imports peaked at $X in 2021, and then dropped slightly in the following year.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of animal feed to Kuwait, with a 17% share of total imports. Moreover, animal feed imports from Belgium exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The UK (X tons) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+4.2% per year) and the UK (+9.1% per year).

In value terms, Belgium ($X), France ($X) and the Netherlands ($X) were the largest animal feed suppliers to Kuwait, together accounting for 25% of total imports. The United States, Germany, the UK, Turkey, Jordan, Spain, India, Italy and Ireland lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Ireland, with a CAGR of +71.9%, 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 average animal feed import price stood at $X per ton in 2022, reducing by -10.1% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, animal feed import price increased by +63.5% against 2016 indices. The growth pace was the most rapid in 2021 an increase of 23%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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