Kuwait: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Kuwait

The Kuwaiti evaporated and condensed milk market totaled $X in 2022, increasing by 15% against the previous year. Overall, consumption continues to indicate a resilient expansion. Evaporated and condensed milk consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Evaporated And Condensed Milk in Kuwait

In value terms, evaporated and condensed milk production totaled $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 11% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Evaporated And Condensed Milk

Exports from Kuwait

In 2022, after three years of growth, there was significant decline in shipments abroad of evaporated and condensed milk, when their volume decreased by -20% to X tons. Over the period under review, exports, however, enjoyed a moderate increase. The pace of growth was the most pronounced in 2017 when exports increased by 205% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk exports reduced dramatically to $X in 2022. In general, exports, however, enjoyed mild growth. The most prominent rate of growth was recorded in 2017 when exports increased by 236% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Iraq (X tons) was the main destination for evaporated and condensed milk exports from Kuwait, with a 60% share of total exports. Moreover, evaporated and condensed milk exports to Iraq exceeded the volume sent to the second major destination, Saudi Arabia (X tons), fourfold. Jordan (X tons) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iraq totaled +18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-8.2% per year) and Jordan (+27.4% per year).

In value terms, Iraq ($X) remains the key foreign market for evaporated and condensed milk exports from Kuwait, comprising 50% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with an 18% share of total exports. It was followed by Jordan, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value to Iraq stood at +15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-9.0% per year) and Jordan (+26.1% per year).

Export Prices by Country

The average evaporated and condensed milk export price stood at $X per ton in 2022, leveling off at the previous year. In general, the export price, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by 10% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, 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 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+9.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Evaporated And Condensed Milk

Imports into Kuwait

In 2022, approx. X tons of evaporated and condensed milk were imported into Kuwait; remaining relatively unchanged against 2021. Over the period under review, imports saw a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 69% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk imports totaled $X in 2022. Overall, imports posted resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of 50% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest evaporated and condensed milk supplier to Kuwait, with a 71% share of total imports. Moreover, evaporated and condensed milk imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Saudi Arabia totaled +28.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+4.9% per year) and Spain (+133.5% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of evaporated and condensed milk to Kuwait, comprising 62% of total imports. The second position in the ranking was taken by Germany ($X), with a 6.5% share of total imports. It was followed by the Netherlands, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value from Saudi Arabia stood at +22.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.4% per year) and the Netherlands (+1.0% per year).

Import Prices by Country

The average evaporated and condensed milk import price stood at $X per ton in 2022, remaining constant against the previous year. Overall, the import price, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2015 an increase of 12%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average 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 Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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