Kuwait: Egg Product Market 2024

Egg Product Market Size in Kuwait

After two years of decline, the Kuwaiti egg product market increased by 7.4% to $X in 2021. Over the period under review, consumption posted a remarkable increase. Egg product consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Egg Product Production in Kuwait

In value terms, egg product production expanded rapidly to $X in 2021 estimated in export price. In general, production saw a buoyant expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by 50% against the previous year. Egg product production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Egg Product Exports

Exports from Kuwait

In 2021, overseas shipments of egg products increased by 16% to X tons, rising for the third year in a row after two years of decline. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 209%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, egg product exports surged to $X in 2021. In general, exports posted significant growth. The growth pace was the most rapid in 2013 with an increase of 206%. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

The United Arab Emirates (X tons) was the main destination for egg product exports from Kuwait, with a 70% share of total exports. Moreover, egg product exports to the United Arab Emirates exceeded the volume sent to the second major destination, Qatar (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +79.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+36.5% per year) and Saudi Arabia (-2.0% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for egg products exports from Kuwait, comprising 71% of total exports. The second position in the ranking was taken by Qatar ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates stood at +69.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+28.5% per year) and Saudi Arabia (-4.2% per year).

Export Prices by Country

In 2021, the average egg product export price amounted to $X per ton, rising by 2.6% against the previous year. In general, the export price, however, continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 7.8%. 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 failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, 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 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (-2.3%), while the prices for the other major destinations experienced a decline.

Egg Product Imports

Imports into Kuwait

In 2021, imports of egg products into Kuwait surged to X tons, growing by 72% on the previous year. Overall, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, egg product imports skyrocketed to $X in 2021. In general, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Denmark (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main suppliers of egg product imports to Kuwait, with a combined 51% share of total imports. These countries were followed by the United States, Ukraine, Belgium, India, Italy, Thailand and the Netherlands, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +26.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest egg product suppliers to Kuwait were Denmark ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), together accounting for 52% of total imports. These countries were followed by the United States, Ukraine, India, Belgium, Italy, the Netherlands and Thailand, which together accounted for a further 26%.

In terms of the main suppliers, Belgium, with a CAGR of +17.1%, saw the highest rates of growth with regard to 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 egg product import price amounted to $X per ton, waning by -19.9% against the previous year. Over the period under review, the import price recorded a slight shrinkage. The growth pace was the most rapid in 2020 an increase of 11%. As a result, import price attained the peak level of $X per ton, and then fell dramatically in the following year.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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