MENA: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in MENA

The MENA's evaporated and condensed milk market rose significantly to $X in 2022, growing by 6.6% against the previous year. The total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.6% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Evaporated And Condensed Milk in MENA

In value terms, evaporated and condensed milk production expanded significantly to $X in 2022 estimated in export price. In general, production saw prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 32% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Saudi Arabia (X tons) remains the largest evaporated and condensed milk producing country in MENA, comprising approx. 74% of total volume. Moreover, evaporated and condensed milk production in Saudi Arabia exceeded the figures recorded by the second-largest producer, Israel (X tons), eightfold. The third position in this ranking was taken by Kuwait (X tons), with an 8.9% share.

In Saudi Arabia, evaporated and condensed milk production expanded at an average annual rate of +11.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Israel (+1.0% per year) and Kuwait (+2.3% per year).

Exports of Evaporated And Condensed Milk

Exports in MENA

In 2022, approx. X tons of evaporated and condensed milk were exported in MENA; falling by -6.5% compared with the previous year's figure. Overall, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 40% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk exports declined to $X in 2022. Over the period under review, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 62% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Saudi Arabia (X tons) was the main exporter of evaporated and condensed milk, mixing up 59% of total exports. The United Arab Emirates (X tons) took a 26% share (based on physical terms) of total exports, which put it in second place, followed by Kuwait (9%). Oman (X tons) followed a long way behind the leaders.

Exports from Saudi Arabia increased at an average annual rate of +7.8% from 2012 to 2022. At the same time, Oman (+73.2%), the United Arab Emirates (+8.6%) and Kuwait (+3.5%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of +73.2% from 2012-2022. Saudi Arabia (+3.3 p.p.), the United Arab Emirates (+3.1 p.p.) and Oman (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while Kuwait saw its share reduced by -3.8% from 2012 to 2022, respectively.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 93% share of total exports. Oman lagged somewhat behind, comprising a further 2.5%.

Among the main exporting countries, Oman, with a CAGR of +65.4%, saw the highest growth rate of 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 export price in MENA stood at $X per ton in 2022, picking up by 3.9% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 19%. Over the period under review, the export prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Kuwait ($X per ton), while Saudi Arabia ($X per ton) and Oman ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+0.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Evaporated And Condensed Milk

Imports in MENA

In 2022, overseas purchases of evaporated and condensed milk decreased by -1% to X tons, falling for the third year in a row after three years of growth. Total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -18.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 22%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, evaporated and condensed milk imports rose slightly to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.5% against 2019 indices. The pace of growth was the most pronounced in 2019 when imports increased by 23%. As a result, imports attained the peak of $X; afterwards, it flattened through to 2022.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) represented roughly 49% of total imports in 2022. Oman (X tons) ranks next in terms of the total imports with a 14% share, followed by Libya (12%), Kuwait (8.6%) and Bahrain (5.1%). Iraq (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +29.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X) constituted the countries with the highest levels of imports in 2022, with a combined 62% share of total imports. Libya, Kuwait, Bahrain and Iraq lagged somewhat behind, together comprising a further 29%.

Iraq, with a CAGR of +26.9%, 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

The import price in MENA stood at $X per ton in 2022, increasing by 2.9% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 15% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform