Kuwait: Preserved Cows Meat Market 2024

Preserved Cows Meat Market Size in Kuwait

In 2021, the Kuwaiti preserved cows meat market increased by 4.7% to $X, rising for the third year in a row after two years of decline. Overall, consumption, however, recorded a significant increase. Preserved cows meat consumption peaked in 2021 and is expected to retain growth in years to come.

Preserved Cows Meat Production in Kuwait

In value terms, preserved cows meat production declined to $X in 2021 estimated in export price. Overall, production, however, enjoyed a significant increase. The growth pace was the most rapid in 2015 when the production volume increased by 138% against the previous year. Preserved cows meat production peaked at $X in 2020, and then declined in the following year.

Preserved Cows Meat Exports

Exports from Kuwait

In 2021, overseas shipments of prepared or preserved meat or offal of bovine animals decreased by -70.4% to X tons, falling for the second year in a row after four years of growth. In general, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 377% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, preserved cows meat exports dropped sharply to $X in 2021. Overall, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2019 when exports increased by 386% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons) was the main destination for preserved cows meat exports from Kuwait, accounting for a 77% share of total exports. Moreover, preserved cows meat exports to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold. The Philippines (X tons) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia totaled +76.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+36.2% per year) and the Philippines (-4.8% per year).

In value terms, Saudi Arabia ($X) emerged as the key foreign market for prepared or preserved meat or offal of bovine animals exports from Kuwait, comprising 52% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 14% share of total exports. It was followed by Iraq, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia totaled +69.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+51.7% per year) and Iraq (+2.1% per year).

Export Prices by Country

In 2021, the average preserved cows meat export price amounted to $X per ton, increasing by 31% against the previous year. In general, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +9.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved cows meat export price increased by +49.8% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 34%. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to Saudi Arabia ($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 Iraq (+24.4%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Cows Meat Imports

Imports into Kuwait

In 2021, the amount of prepared or preserved meat or offal of bovine animals imported into Kuwait shrank notably to X tons, reducing by -27.7% on the year before. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 246%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, preserved cows meat imports declined rapidly to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 245% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Pakistan (X tons) constituted the largest preserved cows meat supplier to Kuwait, with a 78% share of total imports. Moreover, preserved cows meat imports from Pakistan exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold. The United States (X tons) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2021, the average annual growth rate of volume from Pakistan stood at +100.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+26.0% per year) and the United States (+18.2% per year).

In value terms, Pakistan ($X) constituted the largest supplier of prepared or preserved meat or offal of bovine animals to Kuwait, comprising 76% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 4.3% share of total imports. It was followed by the United States, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Pakistan amounted to +108.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+24.9% per year) and the United States (+12.6% per year).

Import Prices by Country

In 2021, the average preserved cows meat import price amounted to $X per ton, picking up by 6.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 78% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

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 Brazil ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+40.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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