Kuwait: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in Kuwait

The Kuwaiti market for condensed or evaporated milk (sweetened) dropped dramatically to $X in 2022, declining by -18.4% against the previous year. In general, consumption, however, enjoyed a resilient increase. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Condensed Or Evaporated Milk (Sweetened) in Kuwait

In value terms, sweetened condensed and evaporated milk production stood at $X in 2022 estimated in export price. Over the period under review, production recorded a sharp decrease. The most prominent rate of growth was recorded in 2013 when the production volume increased by 45%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Kuwait

In 2022, shipments abroad of condensed or evaporated milk (sweetened) increased by 117% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 290%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, sweetened condensed and evaporated milk exports surged to $X in 2022. In general, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 284% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bahrain (X tons), Jordan (X tons) and Qatar (X tons) were the main destinations of sweetened condensed and evaporated milk exports from Kuwait, together comprising 99.9% of total exports.

From 2012 to 2022, the biggest increases were recorded for Jordan (with a CAGR of +42.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bahrain ($X), Jordan ($X) and Qatar ($X) constituted the largest markets for sweetened condensed and evaporated milk exported from Kuwait worldwide, together comprising 99.9% of total exports.

Jordan, with a CAGR of +37.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for condensed or evaporated milk (sweetened) amounted to $X per ton, reducing by -20.3% against the previous year. In general, the export price showed a perceptible downturn. The pace of growth appeared the most rapid in 2021 when the average export price increased by 36%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to Bahrain ($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 Qatar (+1.6%), while the prices for the other major destinations experienced a decline.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Kuwait

In 2022, supplies from abroad of condensed or evaporated milk (sweetened) increased by 6.2% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports showed significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 150%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, sweetened condensed and evaporated milk imports reduced to $X in 2022. In general, imports posted strong growth. The pace of growth was the most pronounced in 2014 when imports increased by 152%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Spain (X tons), the Netherlands (X tons) and Turkey (X tons) were the main suppliers of sweetened condensed and evaporated milk imports to Kuwait, with a combined 47% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +117.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sweetened condensed and evaporated milk suppliers to Kuwait were Spain ($X), the Netherlands ($X) and Turkey ($X), with a combined 48% share of total imports.

Turkey, with a CAGR of +131.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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 import price for condensed or evaporated milk (sweetened) amounted to $X per ton, declining by -11.2% against the previous year. In general, the import price continues to indicate a slight shrinkage. The growth pace was the most rapid in 2014 when the average import price increased by 37%. Over the period under review, average import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :