Middle East: Animal Fats Market 2024

Animal Fats Market Size in the Middle East

In 2021, after six years of growth, there was significant decline in the Middle Eastern animal fats market, when its value decreased by -18% to $X. Overall, consumption, however, continues to indicate a strong increase. As a result, consumption reached the peak level of $X, and then fell significantly in the following year.

Animal Fats Production in the Middle East

In value terms, animal fats production shrank sharply to $X in 2021 estimated in export price. In general, production, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 50%. As a result, production attained the peak level of $X, and then declined rapidly in the following year.

Animal Fats Exports

Exports in the Middle East

In 2021, approx. X tons of animal fats and oils were exported in the Middle East; picking up by 126% on the previous year. In general, exports showed a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, animal fats exports soared to $X in 2021. Overall, exports showed a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia represented the largest exporter of animal fats and oils in the Middle East, with the volume of exports recording X tons, which was approx. 80% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), generating a 14% share of total exports. Iran (X tons) held a little share of total exports.

Exports from Saudi Arabia increased at an average annual rate of +18.6% from 2012 to 2021. At the same time, Iran (+35.4%) and the United Arab Emirates (+26.0%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +35.4% from 2012-2021. While the share of Saudi Arabia (+36 p.p.), the United Arab Emirates (+9.4 p.p.) and Iran (+3.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest animal fats supplier in the Middle East, comprising 61% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia totaled +2.0%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+26.5% per year) and Iran (+21.8% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, growing by 20% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt downturn. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.4%), while the other leaders experienced a decline in the export price figures.

Animal Fats Imports

Imports in the Middle East

In 2021, supplies from abroad of animal fats and oils increased by 25% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2016 when imports increased by 34%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, animal fats imports soared to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 91%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Saudi Arabia represented the key importer of animal fats and oils in the Middle East, with the volume of imports finishing at X tons, which was approx. 74% of total imports in 2021. It was distantly followed by Kuwait (X tons) and Turkey (X tons), together mixing up a 19% share of total imports. The following importers - the United Arab Emirates (X tons) and Yemen (X tons) - each resulted at a 3.4% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to animal fats imports into Saudi Arabia stood at -3.7%. At the same time, Turkey (+87.7%), Kuwait (+44.7%) and the United Arab Emirates (+18.6%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +87.7% from 2012-2021. By contrast, Yemen (-28.1%) illustrated a downward trend over the same period. While the share of Kuwait (+9.9 p.p.), Turkey (+8.8 p.p.), Saudi Arabia (+5.7 p.p.) and the United Arab Emirates (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Yemen (-18.5 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported animal fats and oils in the Middle East, comprising 72% of total imports. The second position in the ranking was held by Turkey ($X), with a 20% share of total imports. It was followed by Kuwait, with a 4.6% share.

In Saudi Arabia, animal fats imports shrank by an average annual rate of -2.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+75.4% per year) and Kuwait (+46.7% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, which is down by -3.4% against the previous year. In general, the import price, however, continues to indicate a moderate expansion. The most prominent rate of growth was recorded in 2017 an increase of 100% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, 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 2021, the most notable rate of growth in terms of prices was attained by Yemen (+12.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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