Kuwait: Cheese And Curd Market 2024

Cheese And Curd Market Size in Kuwait

The Kuwaiti cheese and curd market fell to $X in 2022, which is down by -9.1% against the previous year. Overall, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 -25.4% against 2019 indices. Cheese and curd consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Cheese And Curd Production in Kuwait

In value terms, cheese and curd production reduced modestly to $X in 2022 estimated in export price. In general, production, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by 92%. Cheese and curd production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Cheese And Curd Exports

Exports from Kuwait

For the third year in a row, Kuwait recorded growth in shipments abroad of cheese and curd, which increased by 1.9% to X tons in 2022. Over the period under review, exports saw strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 82% 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, cheese and curd exports contracted to $X in 2022. In general, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.0% 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 +25.5% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 90%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons) was the main destination for cheese and curd exports from Kuwait, with a 53% share of total exports. Moreover, cheese and curd exports to Saudi Arabia exceeded the volume sent to the second major destination, Qatar (X tons), twofold. The third position in this ranking was held by Iraq (X tons), with an 18% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia amounted to +8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+37.8% per year) and Iraq (+12.8% per year).

In value terms, the largest markets for cheese and curd exported from Kuwait were Qatar ($X), Iraq ($X) and Saudi Arabia ($X), with a combined 88% share of total exports.

Qatar, with a CAGR of +35.5%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average cheese and curd export price stood at $X per ton in 2022, shrinking by -10.7% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average export price increased by 29% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese And Curd Imports

Imports into Kuwait

In 2022, cheese and curd imports into Kuwait totaled X tons, flattening at 2021. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 72%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, cheese and curd imports totaled $X in 2022. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 20%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest cheese and curd supplier to Kuwait, accounting for a 24% share of total imports. Moreover, cheese and curd imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Bahrain (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia amounted to +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Bahrain (+10.7% per year) and Turkey (+5.8% per year).

In value terms, Saudi Arabia ($X), Bahrain ($X) and Turkey ($X) were the largest cheese and curd suppliers to Kuwait, with a combined 44% share of total imports. The United States, New Zealand, Cyprus, France, Egypt, Denmark, Germany, the United Arab Emirates, Jordan and Poland lagged somewhat behind, together comprising a further 39%.

Among the main suppliers, Cyprus, with a CAGR of +26.0%, saw 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

In 2022, the average cheese and curd import price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cheese and curd import price decreased by -1.6% against 2020 indices. The growth pace was the most rapid in 2015 when the average import price increased by 41%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :