Kuwait: Sweet Biscuit Market 2024

Sweet Biscuit Market Size in Kuwait

In 2021, the Kuwaiti sweet biscuit market decreased by -18.8% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then contracted sharply in the following year.

Sweet Biscuit Exports

Exports from Kuwait

In 2021, after two years of growth, there was significant decline in overseas shipments of sweet biscuits, when their volume decreased by -24.4% to X tons. Overall, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 312%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, sweet biscuit exports shrank to $X in 2021. Over the period under review, exports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 311%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Qatar (X tons) were the main destinations of sweet biscuit exports from Kuwait, with a combined 78% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Qatar (with a CAGR of +49.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sweet biscuit exported from Kuwait were Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X), together accounting for 79% of total exports.

Qatar, with a CAGR of +50.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average sweet biscuit export price amounted to $X per ton, picking up by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.5%. The growth pace was the most rapid in 2015 an increase of 30% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Yemen ($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 Oman (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Sweet Biscuit Imports

Imports into Kuwait

After two years of growth, overseas purchases of sweet biscuits decreased by -12.3% to X tons in 2021. The total import volume increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 24%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, sweet biscuit imports declined notably to $X in 2021. Overall, total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 19%. As a result, imports reached the peak of $X, and then plummeted in the following year.

Imports by Country

The UK (X tons), the United Arab Emirates (X tons) and Bahrain (X tons) were the main suppliers of sweet biscuit imports to Kuwait, together comprising 57% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bahrain (with a CAGR of +218.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) constituted the largest supplier of sweet biscuits to Kuwait, comprising 29% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by Bahrain, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value from the UK amounted to +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-13.9% per year) and Bahrain (+179.5% per year).

Import Prices by Country

In 2021, the average sweet biscuit import price amounted to $X per ton, declining by -12.4% against the previous year. Overall, import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sweet biscuit import price decreased by -15.6% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 32% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+17.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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