Kuwait: Market for Preparations Used In Animal Feeding 2024

Market Size for Preparations Used In Animal Feeding in Kuwait

For the fifth consecutive year, the Kuwaiti preparations for animal feeding market recorded growth in sales value, which increased by 0.4% to $X in 2022. Overall, consumption recorded a strong expansion. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Production of Preparations Used In Animal Feeding in Kuwait

In value terms, preparations for animal feeding production fell to $X in 2022 estimated in export price. In general, production posted a modest increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 59%. Preparations for animal feeding production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Preparations Used In Animal Feeding

Exports from Kuwait

In 2022, the amount of preparations used in animal feeding exported from Kuwait reduced dramatically to X tons, dropping by -60.6% compared with 2021. In general, exports continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2014 when exports increased by 111% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, preparations for animal feeding exports declined dramatically to $X in 2022. Overall, exports continue to indicate a noticeable reduction. The growth pace was the most rapid in 2021 with an increase of 96%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Iraq (X tons) was the main destination for preparations for animal feeding exports from Kuwait, with a 66% share of total exports. Moreover, preparations for animal feeding exports to Iraq exceeded the volume sent to the second major destination, Qatar (X tons), threefold. The third position in this ranking was held by Bahrain (X tons), with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume to Iraq amounted to +25.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (-13.3% per year) and Bahrain (-11.6% per year).

In value terms, Iraq ($X) remains the key foreign market for preparations used in animal feeding exports from Kuwait, comprising 85% of total exports. The second position in the ranking was held by Qatar ($X), with a 5% share of total exports. It was followed by Pakistan, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iraq totaled +29.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (-24.1% per year) and Pakistan (-8.1% per year).

Export Prices by Country

The average preparations for animal feeding export price stood at $X per ton in 2022, rising by 42% against the previous year. Overall, the export price showed a relatively flat trend pattern. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Qatar ($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 Belgium (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Preparations Used In Animal Feeding

Imports into Kuwait

Preparations for animal feeding imports into Kuwait reached X tons in 2022, with an increase of 7.8% against the year before. In general, imports saw a strong increase. The growth pace was the most rapid in 2016 with an increase of 41%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, preparations for animal feeding imports reached $X in 2022. Overall, imports posted a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 33%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

Belgium (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main suppliers of preparations for animal feeding imports to Kuwait, with a combined 40% share of total imports. The Netherlands, Italy, Turkey, Germany, the UK, the United States, Thailand, Spain, Pakistan and Tunisia lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +69.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Thailand ($X) and Belgium ($X) appeared to be the largest preparations for animal feeding suppliers to Kuwait, together accounting for 41% of total imports. The United States, Italy, Saudi Arabia, the Netherlands, Germany, Turkey, the UK, Spain, Tunisia and Pakistan lagged somewhat behind, together comprising a further 40%.

Turkey, with a CAGR of +62.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average preparations for animal feeding import price amounted to $X per ton, which is down by -6.7% against the previous year. Overall, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preparations for animal feeding import price increased by +91.6% against 2016 indices. The growth pace was the most rapid in 2021 an increase of 33%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+18.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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