Kuwait: Coffee Extract Market 2024

Coffee Extract Market Size in Kuwait

For the third consecutive year, the Kuwaiti coffee extract market recorded growth in sales value, which increased by 9.5% to $X in 2021. In general, consumption, however, enjoyed buoyant growth. Coffee extract consumption peaked in 2021 and is expected to retain growth in the immediate term.

Coffee Extract Exports

Exports from Kuwait

In 2021, overseas shipments of coffee extracts, essences and concentrates decreased by -20.4% to X tons, falling for the second consecutive year after five years of growth. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 441% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, coffee extract exports dropped rapidly to $X in 2021. Overall, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 362%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for coffee extract exports from Kuwait, with a 68% share of total exports. Moreover, coffee extract exports to Saudi Arabia exceeded the volume sent to the second major destination, Iran (X tons), twofold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia stood at +38.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+31.4% per year) and the United Arab Emirates (-3.7% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for coffee extracts, essences and concentrates exports from Kuwait, comprising 78% of total exports. The second position in the ranking was taken by Iran ($X), with a 17% share of total exports. It was followed by the United Arab Emirates, with a 1% share.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia stood at +35.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+16.3% per year) and the United Arab Emirates (-19.9% per year).

Export Prices by Country

The average coffee extract export price stood at $X per ton in 2021, which is down by -22% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 an increase of 28% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+20.2%), while the prices for the other major destinations experienced a decline.

Coffee Extract Imports

Imports into Kuwait

After two years of growth, overseas purchases of coffee extracts, essences and concentrates decreased by -5% to X tons in 2021. In general, imports, however, posted a resilient increase. The pace of growth was the most pronounced in 2017 when imports increased by 92% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, coffee extract imports expanded rapidly to $X in 2021. Over the period under review, imports, however, saw a strong expansion. The pace of growth was the most pronounced in 2013 when imports increased by 110%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest coffee extract supplier to Kuwait, with a 36% share of total imports. Moreover, coffee extract imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. The third position in this ranking was held by Malaysia (X tons), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates stood at +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+22.7% per year) and Malaysia (+9.4% per year).

In value terms, the largest coffee extract suppliers to Kuwait were the United Arab Emirates ($X), Switzerland ($X) and Brazil ($X), with a combined 50% share of total imports. These countries were followed by the UK, South Korea, Spain, Morocco, Saudi Arabia, Italy, the United States, Malaysia, Singapore and Thailand, which together accounted for a further 37%.

In terms of the main suppliers, Spain, with a CAGR of +49.7%, saw 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 2021, the average coffee extract import price amounted to $X per ton, picking up by 16% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, coffee extract import price increased by +68.1% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 29%. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+23.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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