Middle East: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in the Middle East

The Middle Eastern market for condensed or evaporated milk (sweetened) declined rapidly to $X in 2022, reducing by -25.5% against the previous year. Over the period under review, consumption, however, posted a mild increase. As a result, consumption reached the peak level of $X, and then declined dramatically in the following year.

Production of Condensed Or Evaporated Milk (Sweetened) in the Middle East

In value terms, sweetened condensed and evaporated milk production shrank sharply to $X in 2022 estimated in export price. Overall, production, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 314% against the previous year. As a result, production attained the peak level of $X, and then declined remarkably in the following year.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports in the Middle East

In 2022, after three years of decline, there was significant growth in overseas shipments of condensed or evaporated milk (sweetened), when their volume increased by 22% to X tons. Over the period under review, exports, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 139%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, sweetened condensed and evaporated milk exports surged to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 114%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia was the major exporting country with an export of about X tons, which accounted for 55% of total exports. The United Arab Emirates (X tons) held a 21% share (based on physical terms) of total exports, which put it in second place, followed by Oman (11%), Kuwait (5.9%) and Turkey (4.9%).

From 2012 to 2022, average annual rates of growth with regard to sweetened condensed and evaporated milk exports from Saudi Arabia stood at -6.7%. At the same time, Oman (+69.5%), Turkey (+11.2%) and the United Arab Emirates (+3.4%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +69.5% from 2012-2022. By contrast, Kuwait (-9.7%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+11 p.p.), Oman (+11 p.p.) and Turkey (+3.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kuwait (-5.3 p.p.) and Saudi Arabia (-19.6 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest sweetened condensed and evaporated milk supplier in the Middle East, comprising 56% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 23% share of total exports. It was followed by Oman, with a 7% share.

In Saudi Arabia, sweetened condensed and evaporated milk exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+4.7% per year) and Oman (+66.2% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, leveling off at the previous year. Over the period under review, the export price, however, posted a temperate increase. The growth pace was the most rapid in 2020 when the export price increased by 65% against the previous year. The level of export peaked at $X per ton in 2021, and then dropped modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+6.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports in the Middle East

In 2022, purchases abroad of condensed or evaporated milk (sweetened) decreased by -6.7% to X tons, falling for the fourth year in a row after seven years of growth. In general, imports showed a perceptible reduction. The pace of growth appeared the most rapid in 2013 when imports increased by 28% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk imports stood at $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 33% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Saudi Arabia represented the largest importer of condensed or evaporated milk (sweetened) in the Middle East, with the volume of imports recording X tons, which was approx. 51% of total imports in 2022. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Kuwait (X tons), Oman (X tons) and Iraq (X tons). All these countries together took approx. 37% share of total imports. Jordan (X tons) and Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sweetened condensed and evaporated milk imports into Saudi Arabia stood at +2.2%. At the same time, Iraq (+23.9%), Jordan (+21.9%) and Kuwait (+20.5%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +23.9% from 2012-2022. By contrast, Bahrain (-2.7%), the United Arab Emirates (-7.6%) and Oman (-18.0%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+23 p.p.), Kuwait (+8.2 p.p.), Iraq (+4.2 p.p.) and Jordan (+3.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (-8.8 p.p.) and Oman (-22.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported condensed or evaporated milk (sweetened) in the Middle East, comprising 59% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by Kuwait, with a 7.8% share.

In Saudi Arabia, sweetened condensed and evaporated milk imports expanded at an average annual rate of +2.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+4.1% per year) and Kuwait (+19.2% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, growing by 7.7% against the previous year. Import price indicated a tangible increase from 2012 to 2022: its price 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, sweetened condensed and evaporated milk import price increased by +91.4% against 2018 indices. The pace of growth appeared the most rapid in 2020 when the import price increased by 53% against the previous year. The level of import peaked 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 Saudi Arabia ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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