Kuwait: Preserved Frozen Potato Market 2024

Preserved Frozen Potato Market Size in Kuwait

The Kuwaiti preserved frozen potato market skyrocketed to $X in 2021, rising by 77% 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). Over the period under review, consumption recorded resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Preserved Frozen Potato Exports

Exports from Kuwait

In 2021, overseas shipments of frozen potatoes prepared or preserved increased by 236% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports continue to indicate strong growth. The pace of growth appeared the most rapid in 2015 with an increase of 289%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, preserved frozen potato exports skyrocketed to $X in 2021. Over the period under review, exports posted resilient growth. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Qatar (X tons) was the main destination for preserved frozen potato exports from Kuwait, with a 51% share of total exports. Moreover, preserved frozen potato exports to Qatar exceeded the volume sent to the second major destination, Iraq (X tons), twofold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Qatar totaled +47.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (-2.9% per year) and the United Arab Emirates (+19.8% per year).

In value terms, Qatar ($X) remains the key foreign market for frozen potatoes prepared or preserved exports from Kuwait, comprising 55% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 22% share of total exports. It was followed by the United Arab Emirates, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar amounted to +39.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+24.0% per year) and the United Arab Emirates (+13.3% per year).

Export Prices by Country

In 2021, the average preserved frozen potato export price amounted to $X per ton, surging by 25% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 31% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Iraq ($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 (+1.1%), while the prices for the other major destinations experienced a decline.

Preserved Frozen Potato Imports

Imports into Kuwait

In 2021, the amount of frozen potatoes prepared or preserved imported into Kuwait soared to X tons, picking up by 80% on 2020 figures. Over the period under review, imports continue to indicate a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, preserved frozen potato imports surged to $X in 2021. In general, imports recorded resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest preserved frozen potato supplier to Kuwait, with a 28% share of total imports. Moreover, preserved frozen potato imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Egypt (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+10.5% per year) and the United States (+8.3% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of frozen potatoes prepared or preserved to Kuwait, comprising 31% of total imports. The second position in the ranking was taken by Egypt ($X), with an 8.5% share of total imports. It was followed by the United States, with a 7% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+9.5% per year) and the United States (+6.7% per year).

Import Prices by Country

The average preserved frozen potato import price stood at $X per ton in 2021, waning by -2.3% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 21% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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