Kuwait: Powdered Milk Market 2024

Powdered Milk Market Size in Kuwait

The Kuwaiti powdered milk market surged to $X in 2022, picking up by 51% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.1% 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 -24.2% against 2020 indices. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Powdered Milk Exports

Exports from Kuwait

Powdered milk exports from Kuwait rose modestly to X tons in 2022, picking up by 1.5% compared with 2021 figures. Over the period under review, exports, however, faced a precipitous setback. The most prominent rate of growth was recorded in 2020 with an increase of 51%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, powdered milk exports skyrocketed to $X in 2022. Overall, exports, however, saw a sharp curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 41%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Iraq (X tons), Bahrain (X tons) and Iran (X tons) were the main destinations of powdered milk exports from Kuwait, with a combined 90% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of -21.8%), while shipments for the other leaders experienced a decline.

In value terms, Iraq ($X), Bahrain ($X) and Iran ($X) were the largest markets for powdered milk exported from Kuwait worldwide, together accounting for 93% of total exports.

Iraq, with a CAGR of -18.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average powdered milk export price stood at $X per ton in 2022, picking up by 15% against the previous year. In general, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk export price decreased by -7.9% against 2019 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 38%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat 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 Iraq ($X per ton), while the average price for exports to Qatar ($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 Oman (+17.0%), while the prices for the other major destinations experienced more modest paces of growth.

Powdered Milk Imports

Imports into Kuwait

In 2022, imports of powdered milk into Kuwait skyrocketed to X tons, increasing by 53% on the previous year. Overall, imports, however, recorded a relatively flat trend pattern. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, powdered milk imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons), Australia (X tons) and New Zealand (X tons) were the main suppliers of powdered milk imports to Kuwait, together comprising 61% of total imports. The United Arab Emirates, Saudi Arabia and Belgium lagged somewhat behind, together accounting for a further 5.9%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +13.6%), while imports for the other leaders experienced a decline.

In value terms, the Netherlands ($X) constituted the largest supplier of powdered milk to Kuwait, comprising 33% of total imports. The second position in the ranking was held by Australia ($X), with a 16% share of total imports. It was followed by New Zealand, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands amounted to -3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-0.5% per year) and New Zealand (-7.4% per year).

Import Prices by Country

The average powdered milk import price stood at $X per ton in 2022, declining by -1.6% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 16% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 the Netherlands ($X per ton), while the price for Belgium ($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 (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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