Kuwait: Cream Fresh Market 2024

Cream Fresh Market Size in Kuwait

The Kuwaiti cream fresh market declined to $X in 2022, dropping by -4% against the previous year. Over the period under review, consumption continues to indicate a pronounced slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cream Fresh Production in Kuwait

In value terms, cream fresh production declined modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable setback. The most prominent rate of growth was recorded in 2015 when the production volume increased by 22% against the previous year. Cream fresh production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Cream Fresh Exports

Exports from Kuwait

In 2022, overseas shipments of cream fresh increased by 13% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 3,858%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, cream fresh exports expanded significantly to $X in 2022. In general, exports recorded a significant increase. The growth pace was the most rapid in 2013 with an increase of 2,027%. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Iraq (X tons) was the main destination for cream fresh exports from Kuwait, accounting for a 94% share of total exports. Moreover, cream fresh exports to Iraq exceeded the volume sent to the second major destination, Qatar (X tons), more than tenfold. The third position in this ranking was taken by Saudi Arabia (X tons), with a 1.8% share.

From 2012 to 2022, the average annual growth rate of volume to Iraq stood at -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+161.7% per year) and Saudi Arabia (+25.4% per year).

In value terms, Iraq ($X) remains the key foreign market for cream fresh exports from Kuwait, comprising 93% of total exports. The second position in the ranking was held by Qatar ($X), with a 4.5% share of total exports. It was followed by Saudi Arabia, with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value to Iraq stood at -5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+150.6% per year) and Saudi Arabia (+20.3% per year).

Export Prices by Country

In 2022, the average cream fresh export price amounted to $X per ton, with a decrease of -2.3% against the previous year. Overall, the export price showed a abrupt curtailment. The growth pace was the most rapid in 2015 an increase of 35% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas 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 Iraq (-1.6%), while the prices for the other major destinations experienced a decline.

Cream Fresh Imports

Imports into Kuwait

In 2022, purchases abroad of cream fresh increased by 30% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 90% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, cream fresh imports skyrocketed to $X in 2022. Overall, imports showed a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by 69%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest cream fresh supplier to Kuwait, accounting for a 40% share of total imports. Moreover, cream fresh imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. The third position in this ranking was taken by Bahrain (X tons), with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia totaled +39.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+0.5% per year) and Bahrain (+74.0% per year).

In value terms, the largest cream fresh suppliers to Kuwait were Saudi Arabia ($X), France ($X) and the Netherlands ($X), together accounting for 54% of total imports. Bahrain, Germany and Spain lagged somewhat behind, together accounting for a further 8%.

Among the main suppliers, Bahrain, with a CAGR of +68.4%, 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

The average cream fresh import price stood at $X per ton in 2022, jumping by 16% against the previous year. Over the period under review, the import price recorded perceptible growth. The most prominent rate of growth was recorded in 2021 an increase of 51%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Bahrain ($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 Netherlands (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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