MENA: Cream Fresh Market 2024

Cream Fresh Market Size in MENA

After two years of growth, the MENA's cream fresh market decreased by -20% to $X in 2022. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Cream Fresh Production in MENA

In value terms, cream fresh production amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a slight contraction. The growth pace was the most rapid in 2020 when the production volume increased by 23%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Saudi Arabia (X tons), Kuwait (X tons) and Iran (X tons), together comprising 78% of total production. Tunisia, Egypt and Turkey lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +8.3%), while production for the other leaders experienced more modest paces of growth.

Cream Fresh Exports

Exports in MENA

In 2022, overseas shipments of cream fresh increased by 6.8% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 127%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, cream fresh exports soared to $X in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 69%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Kuwait (X tons) and Saudi Arabia (X tons) represented the largest exporters of cream fresh in 2022, recording approx. 30% and 30% of total exports, respectively. It was distantly followed by Iran (X tons), Tunisia (X tons), Morocco (X tons), Turkey (X tons) and the United Arab Emirates (X tons), together comprising a 38% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Morocco (with a CAGR of +54.7%), while the other leaders experienced more modest paces of growth.

In value terms, Iran ($X), Kuwait ($X) and Saudi Arabia ($X) were the countries with the highest levels of exports in 2022, with a combined 72% share of total exports. Turkey, Tunisia, Morocco and the United Arab Emirates lagged somewhat behind, together comprising a further 22%.

Morocco, with a CAGR of +53.9%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the export price in MENA amounted to $X per ton, jumping by 40% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable descent. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Iran ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.8%), while the other leaders experienced a decline in the export price figures.

Cream Fresh Imports

Imports in MENA

After two years of growth, supplies from abroad of cream fresh decreased by -37.8% to X tons in 2022. In general, imports, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2013 when imports increased by 122%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, cream fresh imports shrank dramatically to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 45% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Bahrain (X tons) represented the main importer of cream fresh, generating 31% of total imports. The United Arab Emirates (X tons) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by Yemen (10%), Kuwait (7.6%), Saudi Arabia (7.5%), Iraq (5.8%), Oman (5%) and Libya (4.7%).

Imports into Bahrain increased at an average annual rate of +13.5% from 2012 to 2022. At the same time, Yemen (+29.4%), Oman (+15.0%), Kuwait (+11.2%), the United Arab Emirates (+3.8%) and Iraq (+3.3%) displayed positive paces of growth. Moreover, Yemen emerged as the fastest-growing importer imported in MENA, with a CAGR of +29.4% from 2012-2022. By contrast, Libya (-3.3%) and Saudi Arabia (-8.5%) illustrated a downward trend over the same period. Bahrain (+18 p.p.), Yemen (+9.1 p.p.), Kuwait (+3.8 p.p.) and Oman (+3.2 p.p.) significantly strengthened its position in terms of the total imports, while Libya and Saudi Arabia saw its share reduced by -4.9% and -19.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Bahrain ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 50% share of total imports. Saudi Arabia, Yemen, Iraq, Oman and Libya lagged somewhat behind, together accounting for a further 30%.

Yemen, with a CAGR of +34.7%, saw 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

In 2022, the import price in MENA amounted to $X per ton, jumping by 36% against the previous year. In general, the import price, however, showed a noticeable contraction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Yemen (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform