Kuwait: Market for Flours, Meals And Pellets Of Meat Or Meat Offal 2024

Market Size for Flours, Meals And Pellets Of Meat Or Meat Offal in Kuwait

The Kuwaiti meat meals and pellets market amounted to $X in 2021, growing by 3% against the previous year. In general, the total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +3.2% against 2018 indices. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Production of Flours, Meals And Pellets Of Meat Or Meat Offal in Kuwait

In value terms, meat meals and pellets production rose modestly to $X in 2021 estimated in export price. Overall, the total production indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -28.3% against 2017 indices. The pace of growth appeared the most rapid in 2016 with an increase of 34% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Flours, Meals And Pellets Of Meat Or Meat Offal

Exports from Kuwait

In 2021, shipments abroad of flours, meals and pellets of meat or meat offal increased by 50% to X tons for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, meat meals and pellets exports soared to $X in 2021. Over the period under review, exports, however, saw a noticeable setback. The pace of growth was the most pronounced in 2017 when exports increased by 65%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Pakistan (X tons) and Sri Lanka (X tons) were the main destinations of meat meals and pellets exports from Kuwait.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of 0.0%).

In value terms, the largest markets for meat meals and pellets exported from Kuwait were Pakistan ($X) and Sri Lanka ($X).

Among the main countries of destination, Sri Lanka, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the average meat meals and pellets export price amounted to $X per ton, falling by -20% against the previous year. Overall, the export price saw a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when the average export price increased by 23%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Pakistan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (-5.8%).

Imports of Flours, Meals And Pellets Of Meat Or Meat Offal

Imports into Kuwait

In 2021, after two years of growth, there was significant decline in purchases abroad of flours, meals and pellets of meat or meat offal, when their volume decreased by -37.4% to X tons. Over the period under review, imports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2019 with an increase of 685%. Imports peaked at X tons in 2020, and then contracted markedly in the following year.

In value terms, meat meals and pellets imports shrank markedly to $X in 2021. In general, imports, however, enjoyed notable growth. The pace of growth appeared the most rapid in 2019 when imports increased by 626% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then dropped markedly in the following year.

Imports by Country

In 2021, India (X tons) constituted the largest meat meals and pellets supplier to Kuwait, with a 67% share of total imports. Moreover, meat meals and pellets imports from India exceeded the figures recorded by the second-largest supplier, the UK (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India stood at +22.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+14.4% per year) and the United States (+27.0% per year).

In value terms, the UK ($X), the United States ($X) and the Philippines ($X) appeared to be the largest meat meals and pellets suppliers to Kuwait, together accounting for 85% of total imports.

Among the main suppliers, the United States, with a CAGR of +20.4%, 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 meat meals and pellets import price amounted to $X per ton, growing by 20% against the previous year. Overall, the import price, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2020 an increase of 29% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, 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 the Philippines ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+8.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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