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

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

In 2021, after three years of growth, there was significant decline in the Kuwaiti market for condensed or evaporated milk (unsweetened), when its value decreased by -36.3% to $X. Over the period under review, consumption, however, posted a prominent expansion. Over the period under review, the market hit record highs at $X in 2020, and then contracted markedly in the following year.

Production of Condensed Or Evaporated Milk (Unsweetened) in Kuwait

In value terms, unsweetened condensed and evaporated milk production reduced to $X in 2021 estimated in export price. In general, production, however, showed modest growth. The pace of growth appeared the most rapid in 2014 when the production volume increased by 13%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Kuwait

In 2021, exports of condensed or evaporated milk (unsweetened) from Kuwait surged to X tons, picking up by 92% compared with 2020 figures. Overall, exports showed a remarkable increase. The growth pace was the most rapid in 2020 when exports increased by 156% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, unsweetened condensed and evaporated milk exports surged to $X in 2021. In general, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 171%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Iraq (X tons) was the main destination for unsweetened condensed and evaporated milk exports from Kuwait, accounting for a 67% share of total exports. Moreover, unsweetened condensed and evaporated milk exports to Iraq exceeded the volume sent to the second major destination, Jordan (X tons), fourfold. The third position in this ranking was held by Saudi Arabia (X tons), with a 9.7% share.

From 2012 to 2021, the average annual growth rate of volume to Iraq amounted to +23.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+45.7% per year) and Saudi Arabia (-6.1% per year).

In value terms, Iraq ($X) emerged as the key foreign market for condensed or evaporated milk (unsweetened) exports from Kuwait, comprising 59% of total exports. The second position in the ranking was held by Jordan ($X), with an 18% share of total exports. It was followed by Saudi Arabia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Iraq amounted to +21.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+42.2% per year) and Saudi Arabia (-1.0% per year).

Export Prices by Country

The average export price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 22% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Iraq ($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 Qatar (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Kuwait

For the fifth year in a row, Kuwait recorded growth in supplies from abroad of condensed or evaporated milk (unsweetened), which increased by 1.3% to X tons in 2021. Overall, imports recorded a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 68%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, unsweetened condensed and evaporated milk imports dropped to $X in 2021. Over the period under review, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2020 when imports increased by 65%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest unsweetened condensed and evaporated milk supplier to Kuwait, accounting for a 76% share of total imports. Moreover, unsweetened condensed and evaporated milk imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold. The third position in this ranking was taken by Germany (X tons), with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume from Saudi Arabia stood at +32.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+2.0% per year) and Germany (-7.1% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of condensed or evaporated milk (unsweetened) to Kuwait, comprising 63% of total imports. The second position in the ranking was taken by the Netherlands ($X), with an 8.4% share of total imports. It was followed by Germany, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Saudi Arabia amounted to +24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+2.4% per year) and Germany (-5.5% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, reducing by -7.2% against the previous year. Over the period under review, the import price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2015 an increase of 24%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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