MENA: Animal Fats Market 2024

Animal Fats Market Size in MENA

After six years of growth, the MENA's animal fats market decreased by -18.3% to $X in 2021. Overall, consumption, however, continues to indicate a prominent expansion. As a result, consumption reached the peak level of $X, and then dropped notably in the following year.

Animal Fats Production in MENA

In value terms, animal fats production contracted notably to $X in 2021 estimated in export price. Overall, production, however, recorded a strong expansion. The growth pace was the most rapid in 2020 when the production volume increased by 52% against the previous year. As a result, production attained the peak level of $X, and then contracted notably in the following year.

Animal Fats Exports

Exports in MENA

In 2021, approx. X tons of animal fats and oils were exported in MENA; surging by 94% compared with the previous year's figure. Over the period under review, exports enjoyed prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, animal fats exports surged to $X in 2021. Overall, exports posted slight growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia represented the key exporting country with an export of around X tons, which accounted for 71% of total exports. The United Arab Emirates (X tons) took the second position in the ranking, followed by Tunisia (X tons). All these countries together took near 24% share of total exports. Iran (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to animal fats exports from Saudi Arabia stood at +18.6%. At the same time, Tunisia (+37.8%), Iran (+35.4%) and the United Arab Emirates (+26.0%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +37.8% from 2012-2021. From 2012 to 2021, the share of Saudi Arabia, Tunisia, the United Arab Emirates and Iran increased by +30, +10, +8.2 and +3.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest animal fats supplier in MENA, comprising 55% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 24% share of total exports. It was followed by Tunisia, with a 9.5% share.

In Saudi Arabia, animal fats exports expanded at an average annual rate of +2.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+26.5% per year) and Tunisia (+31.6% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, jumping by 25% against the previous year. In general, the export price, however, saw a deep slump. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Iran ($X per ton), while Saudi Arabia ($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 United Arab Emirates (+0.4%), while the other leaders experienced a decline in the export price figures.

Animal Fats Imports

Imports in MENA

Animal fats imports surged to X tons in 2021, jumping by 37% on 2020. Overall, imports, however, showed a perceptible setback. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, animal fats imports soared to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 87% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Saudi Arabia dominates imports structure, resulting at X tons, which was near 66% of total imports in 2021. Kuwait (X tons) ranks second in terms of the total imports with a 9% share, followed by Turkey (7.9%) and Algeria (7.7%). Egypt (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to animal fats imports into Saudi Arabia stood at -3.7%. At the same time, Turkey (+87.7%), Algeria (+50.2%), Kuwait (+44.7%), Egypt (+25.2%) and the United Arab Emirates (+18.6%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in MENA, with a CAGR of +87.7% from 2012-2021. From 2012 to 2021, the share of Kuwait, Turkey, Algeria and Egypt increased by +8.8, +7.9, +7.5 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported animal fats and oils in MENA, comprising 69% of total imports. The second position in the ranking was taken by Turkey ($X), with a 19% share of total imports. It was followed by Kuwait, with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia stood at -2.3%. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+75.4% per year) and Kuwait (+46.7% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, dropping by -9.6% against the previous year. Import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, animal fats import price increased by +10.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the import price increased by 97%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while Algeria ($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 (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform