Kuwait: Whey Market 2024

Whey Market Size in Kuwait

The Kuwaiti whey market expanded notably to $X in 2022, growing by 8.5% against the previous year. In general, consumption, however, showed a abrupt contraction. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Whey Production in Kuwait

In value terms, whey production amounted to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 368,728,500%. Whey production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Whey Exports

Exports from Kuwait

In 2022, the amount of whey exported from Kuwait reduced to X tons, dropping by -1.6% compared with the previous year. In general, exports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2013 with an increase of 6,863%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, whey exports shrank to $X in 2022. Overall, exports showed a deep setback. The pace of growth appeared the most rapid in 2013 with an increase of 7,521%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X tons), Oman (X tons) and Jordan (X tons) were the main destinations of whey exports from Kuwait, together comprising 93% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +52.4%), while the other leaders experienced more modest paces of growth.

In value terms, Oman ($X), Qatar ($X) and Jordan ($X) were the largest markets for whey exported from Kuwait worldwide, together comprising 92% of total exports.

Among the main countries of destination, Oman, with a CAGR of +47.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average whey export price stood at $X per ton in 2022, remaining constant against the previous year. Overall, the export price, however, saw a noticeable setback. The pace of growth appeared the most rapid in 2013 an increase of 9.4% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United Arab Emirates ($X per ton) and Oman ($X per ton), while the average price for exports to Qatar ($X per ton) and Jordan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-1.7%), while the prices for the other major destinations experienced a decline.

Whey Imports

Imports into Kuwait

In 2022, overseas purchases of whey were finally on the rise to reach X tons after two years of decline. In general, imports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2017 when imports increased by 84% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, whey imports expanded modestly to $X in 2022. Overall, imports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2015 with an increase of 90% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest whey supplier to Kuwait, accounting for a 28% share of total imports. Moreover, whey imports from Ukraine exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), twofold. Ireland (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ukraine amounted to -11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-3.3% per year) and Ireland (+21.6% per year).

In value terms, Ukraine ($X) constituted the largest supplier of whey to Kuwait, comprising 37% of total imports. The second position in the ranking was held by the Czech Republic ($X), with an 11% share of total imports. It was followed by Germany, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value from Ukraine amounted to -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-3.8% per year) and Germany (-7.9% per year).

Import Prices by Country

The average whey import price stood at $X per ton in 2022, with a decrease of -9.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2021 an increase of 21% against the previous year. 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 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Turkey ($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 UK (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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