MENA: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in MENA

In 2022, the MENA's butter and dairy spreads market increased by 4.8% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption saw a slight descent. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Butter And Dairy Spreads in MENA

In value terms, butter and dairy spreads production stood at $X in 2022 estimated in export price. In general, production, however, saw a slight decrease. The most prominent rate of growth was recorded in 2014 with an increase of 10,326%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Turkey (X tons) remains the largest butter and dairy spreads producing country in MENA, accounting for 100% of total volume.

In Turkey, butter and dairy spreads production expanded at an average annual rate of +664.6% over the period from 2012-2022.

Exports of Butter And Dairy Spreads

Exports in MENA

In 2022, shipments abroad of butter and dairy spreads increased by 77% to X tons, rising for the second consecutive year after three years of decline. Overall, exports showed resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 299% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, butter and dairy spreads exports skyrocketed to $X in 2022. Over the period under review, exports showed a strong expansion. The pace of growth was the most pronounced in 2015 when exports increased by 497%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey was the main exporting country with an export of about X tons, which reached 51% of total exports. Saudi Arabia (X tons) took a 28% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (13%). Iran (X tons) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +42.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) emerged as the largest butter and dairy spreads supplier in MENA, comprising 61% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 30% share of total exports. It was followed by the United Arab Emirates, with a 3.8% share.

In Turkey, butter and dairy spreads exports expanded at an average annual rate of +40.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (+12.8% per year) and the United Arab Emirates (-5.3% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, picking up by 2.6% against the previous year. Export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads export price increased by +25.2% against 2019 indices. The pace of growth was the most pronounced in 2015 an increase of 49% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Butter And Dairy Spreads

Imports in MENA

In 2022, supplies from abroad of butter and dairy spreads was finally on the rise to reach X tons after two years of decline. In general, imports, however, continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2014 when imports increased by 11% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, butter and dairy spreads imports rose sharply to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 19% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons), distantly followed by Bahrain (X tons), the United Arab Emirates (X tons), Morocco (X tons), Egypt (X tons) and Qatar (X tons) represented the key importers of butter and dairy spreads, together creating 76% of total imports. The following importers - Oman (X tons), Kuwait (X tons), Israel (X tons), Iran (X tons) and Iraq (X tons) - together made up 15% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Oman (with a CAGR of +16.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Bahrain ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 49% of total imports.

Bahrain, with a CAGR of +19.8%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, with an increase of 9.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2017 when the import price increased by 32%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Iraq ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform