Kuwait: Packaging Materials Market 2024

Packaging Materials Market Size in Kuwait

In 2022, the Kuwaiti packaging materials market increased by 10% to $X, rising for the third year in a row after two years of decline. Overall, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +25.5% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Packaging Materials Production in Kuwait

In value terms, packaging materials production contracted slightly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 25%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Packaging Materials Exports

Exports from Kuwait

In 2022, shipments abroad of packaging materials decreased by -9.3% to X tons, falling for the third consecutive year after two years of growth. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by 61%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, packaging materials exports reduced markedly to $X in 2022. In general, exports, however, saw mild growth. The growth pace was the most rapid in 2018 with an increase of 46% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for packaging materials exports from Kuwait, with a 89% share of total exports. It was followed by Denmark (X tons), with a 2% share of total exports. The third position in this ranking was taken by Sri Lanka (X tons), with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia amounted to +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (0.0% per year) and Sri Lanka (-19.5% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for packaging materials exports from Kuwait, comprising 87% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 2.6% share of total exports. It was followed by Jordan, with a 2% share.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia totaled +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+0.1% per year) and Jordan (+1.9% per year).

Export Prices by Country

In 2022, the average packaging materials export price amounted to $X per ton, falling by -8% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 20% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Sri Lanka ($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 Jordan (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.

Packaging Materials Imports

Imports into Kuwait

In 2022, after two years of growth, there was significant decline in purchases abroad of packaging materials, when their volume decreased by -7.4% to X tons. The total import volume increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 34% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, packaging materials imports declined to $X in 2022. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +7.3% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 44% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Indonesia (X tons) and India (X tons) were the main suppliers of packaging materials imports to Kuwait, with a combined 26% share of total imports. Germany, Lebanon, the United Arab Emirates, Spain, Saudi Arabia, Bahrain, New Zealand, France, Russia and Poland lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +53.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of packaging materials to Kuwait, comprising 13% of total imports. The second position in the ranking was held by Indonesia ($X), with a 6.4% share of total imports. It was followed by India, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+4.4% per year) and India (+20.6% per year).

Import Prices by Country

The average packaging materials import price stood at $X per ton in 2022, approximately mirroring the previous year. Overall, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, packaging materials import price decreased by -33.0% against 2016 indices. The pace of growth was the most pronounced in 2016 when the average import price increased by 39% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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