MENA: Cheese And Curd Market 2024

Cheese And Curd Market Size in MENA

The MENA's cheese and curd market dropped to $X in 2022, approximately equating the previous year. In general, consumption recorded a buoyant expansion. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Cheese And Curd Production in MENA

In value terms, cheese and curd production reduced to $X in 2022 estimated in export price. Over the period under review, production saw a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 52% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Cheese And Curd Exports

Exports in MENA

In 2022, shipments abroad of cheese and curd was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, recorded a perceptible curtailment. The growth pace was the most rapid in 2013 with an increase of 28%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, cheese and curd exports rose modestly to $X in 2022. In general, exports, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 24%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The shipments of the three major exporters of cheese and curd, namely Saudi Arabia, Turkey and Egypt, represented more than two-thirds of total export. It was distantly followed by Bahrain (X tons), comprising an 8.2% share of total exports. The United Arab Emirates (X tons), Jordan (X tons) and Iran (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Iran (with a CAGR of +9.4%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Turkey ($X) and Egypt ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 74% of total exports. Bahrain, the United Arab Emirates, Jordan and Iran lagged somewhat behind, together accounting for a further 20%.

The United Arab Emirates, with a CAGR of +5.8%, saw the highest growth rate of 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

The export price in MENA stood at $X per ton in 2022, surging by 4.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2020 when the export price increased by 19%. The level of export peaked in 2022 and is likely to continue growth in years to come.

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 Bahrain ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+6.2%), while the other leaders experienced more modest paces of growth.

Cheese And Curd Imports

Imports in MENA

In 2022, purchases abroad of cheese and curd decreased by -1.2% to X tons, falling for the third consecutive year after two years of growth. The total import volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 11% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, cheese and curd imports shrank slightly to $X in 2022. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 13%. Over the period under review, imports attained the peak figure at $X in 2021, and then declined slightly in the following year.

Imports by Country

Saudi Arabia represented the major importer of cheese and curd in MENA, with the volume of imports finishing at X tons, which was near 29% of total imports in 2022. The United Arab Emirates (X tons) took the second position in the ranking, followed by Iraq (X tons), Libya (X tons), Algeria (X tons), Kuwait (X tons) and Yemen (X tons). All these countries together took near 45% share of total imports. Oman (X tons), Morocco (X tons), Bahrain (X tons), Jordan (X tons), Lebanon (X tons) and Israel (X tons) followed a long way behind the leaders.

Imports into Saudi Arabia increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, Israel (+17.7%), Morocco (+5.8%), Algeria (+5.0%), Iraq (+4.0%), the United Arab Emirates (+2.4%), Libya (+1.8%) and Yemen (+1.7%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in MENA, with a CAGR of +17.7% from 2012-2022. Oman, Bahrain and Kuwait experienced a relatively flat trend pattern. By contrast, Jordan (-1.1%) and Lebanon (-5.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia, Israel, Iraq and Algeria increased by +3.6, +1.8, +1.7 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cheese and curd importing markets in MENA were Saudi Arabia ($X), the United Arab Emirates ($X) and Iraq ($X), together accounting for 46% of total imports. Kuwait, Libya, Algeria, Morocco, Oman, Jordan, Israel, Bahrain, Lebanon and Yemen lagged somewhat behind, together accounting for a further 44%.

Israel, with a CAGR of +17.0%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, remaining stable against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 4.6% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Yemen ($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 (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform