Kuwait: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Kuwait

In 2021, the Kuwaiti sauce and seasoning market increased by 35% to $X for the first time since 2016, thus ending a four-year declining trend. In general, the total consumption indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Sauce And Seasoning Production in Kuwait

In value terms, sauce and seasoning production amounted to $X in 2021 estimated in export price. Overall, production recorded a abrupt curtailment. The pace of growth was the most pronounced in 2016 when the production volume increased by 78% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Sauce And Seasoning Exports

Exports from Kuwait

In 2021, the amount of sauces and seasonings exported from Kuwait amounted to X tons, surging by 4.7% against 2020. Overall, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 277%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, sauce and seasoning exports expanded to $X in 2021. In general, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 194%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Qatar (X tons) was the main destination for sauce and seasoning exports from Kuwait, accounting for a 54% share of total exports. Moreover, sauce and seasoning exports to Qatar exceeded the volume sent to the second major destination, Saudi Arabia (X tons), twofold. Jordan (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Qatar stood at +40.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+13.7% per year) and Jordan (+32.8% per year).

In value terms, Qatar ($X) remains the key foreign market for sauces and seasonings exports from Kuwait, comprising 60% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 20% share of total exports. It was followed by Jordan, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar amounted to +40.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+9.8% per year) and Jordan (+30.1% per year).

Export Prices by Country

In 2021, the average sauce and seasoning export price amounted to $X per ton, declining by -1.7% against the previous year. Overall, the export price continues to indicate a perceptible reduction. The growth pace was the most rapid in 2017 when the average export price increased by 28% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Qatar ($X per ton) and the United Arab Emirates ($X per ton), while the average price for exports to Iran ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+0.4%), while the prices for the other major destinations experienced a decline.

Sauce And Seasoning Imports

Imports into Kuwait

In 2021, supplies from abroad of sauces and seasonings increased by 22% to X tons, rising for the fifth consecutive year after two years of decline. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +56.0% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, sauce and seasoning imports surged to $X in 2021. Overall, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +112.3% against 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), Oman (X tons) and the United Arab Emirates (X tons) were the main suppliers of sauce and seasoning imports to Kuwait, with a combined 41% share of total imports. Egypt, the Netherlands, Saudi Arabia, the Philippines, Indonesia, Turkey, India and Italy lagged somewhat behind, together comprising a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +27.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sauce and seasoning suppliers to Kuwait were the United States ($X), Oman ($X) and the Netherlands ($X), together accounting for 42% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +30.2%, recorded 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

The average sauce and seasoning import price stood at $X per ton in 2021, declining by -1.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 11%. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Egypt ($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 (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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