MENA: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in MENA

In 2021, after four years of growth, there was significant decline in the MENA's market for condensed or evaporated milk (unsweetened), when its value decreased by -34.1% to $X. Overall, consumption, however, saw a strong expansion. As a result, consumption attained the peak level of $X, and then fell sharply in the following year.

Production of Condensed Or Evaporated Milk (Unsweetened) in MENA

In value terms, unsweetened condensed and evaporated milk production contracted notably to $X in 2021 estimated in export price. Over the period under review, production, however, posted a resilient increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 43%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports in MENA

In 2021, overseas shipments of condensed or evaporated milk (unsweetened) increased by 20% to X tons, rising for the fifth year in a row after two years of decline. In general, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 67% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, unsweetened condensed and evaporated milk exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2014 when exports increased by 75% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Saudi Arabia was the key exporter of condensed or evaporated milk (unsweetened) in MENA, with the volume of exports finishing at X tons, which was near 62% of total exports in 2021. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Kuwait (X tons). All these countries together took approx. 34% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the condensed or evaporated milk (unsweetened) exports, with a CAGR of +17.6% from 2012 to 2021. At the same time, Kuwait (+10.2%) and the United Arab Emirates (+10.0%) displayed positive paces of growth. While the share of Saudi Arabia (+17 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Kuwait (-3.4 p.p.) and the United Arab Emirates (-7.3 p.p.) displayed negative dynamics.

In value terms, the largest unsweetened condensed and evaporated milk supplying countries in MENA were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined 94% share of total exports.

Saudi Arabia, with a CAGR of +15.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, shrinking by -2.4% against the previous year. In general, the export price continues to indicate a slight decrease. The growth pace was the most rapid in 2013 an increase of 5.5%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+0.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports in MENA

In 2021, after four years of growth, there was significant decline in supplies from abroad of condensed or evaporated milk (unsweetened), when their volume decreased by -12.8% to X tons. In general, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2020 when imports increased by 50%. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, unsweetened condensed and evaporated milk imports dropped modestly to $X in 2021. Total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +111.4% against 2016 indices. The growth pace was the most rapid in 2020 with an increase of 32%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2021, the United Arab Emirates (X tons), distantly followed by Saudi Arabia (X tons), Oman (X tons), Kuwait (X tons), Libya (X tons) and Iraq (X tons) were the key importers of condensed or evaporated milk (unsweetened), together constituting 89% of total imports. Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Iraq (with a CAGR of +38.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest unsweetened condensed and evaporated milk importing markets in MENA were Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X), with a combined 64% share of total imports. Libya, Kuwait, Qatar and Iraq lagged somewhat behind, together comprising a further 29%.

In terms of the main importing countries, Iraq, with a CAGR of +32.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, picking up by 14% against the previous year. Overall, the import price, however, showed a pronounced reduction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+2.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform