Middle East: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in the Middle East

The Middle Eastern butter and dairy spreads market amounted to $X in 2022, picking up by 1.6% against the previous year. Overall, consumption saw a slight decrease. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Butter And Dairy Spreads in the Middle East

In value terms, butter and dairy spreads production totaled $X in 2022 estimated in export price. In general, production, however, saw a slight reduction. The most prominent rate of growth was recorded in 2014 when the production volume increased by 10,327% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Turkey (X tons) constituted the country with the largest volume of butter and dairy spreads production, accounting for 100% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in Turkey amounted to +664.6%.

Exports of Butter And Dairy Spreads

Exports in the Middle East

In 2022, overseas shipments of butter and dairy spreads increased by 76% to X tons, rising for the second year in a row after three years of decline. In general, exports posted a prominent increase. The pace of growth appeared the most rapid in 2015 when exports increased by 308% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, butter and dairy spreads exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2015 when exports increased by 507%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Turkey (X tons) was the main exporter of butter and dairy spreads, creating 52% of total exports. It was distantly followed by Saudi Arabia (X tons) and the United Arab Emirates (X tons), together constituting a 42% share of total exports. Iran (X tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +42.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) emerged as the largest butter and dairy spreads supplier in the Middle East, comprising 61% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 30% share of total exports. It was followed by the United Arab Emirates, with a 3.9% share.

In Turkey, butter and dairy spreads exports increased at an average annual rate of +40.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (+12.8% per year) and the United Arab Emirates (-5.3% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, surging by 2.6% against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads export price increased by +24.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 49%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, 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 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Butter And Dairy Spreads

Imports in the Middle East

In 2022, supplies from abroad of butter and dairy spreads was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2014 with an increase of 12% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, butter and dairy spreads imports expanded sharply to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 19% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons), distantly followed by Bahrain (X tons), the United Arab Emirates (X tons), Qatar (X tons), Oman (X tons) and Kuwait (X tons) represented the major importers of butter and dairy spreads, together making up 84% of total imports. Israel (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +16.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Bahrain ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2022, with a combined 65% share of total imports.

In terms of the main importing countries, Bahrain, with a CAGR of +19.8%, recorded the highest rates of growth with regard to the value of imports, 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 the Middle East amounted to $X per ton, surging by 5.7% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The pace of growth was the most pronounced in 2017 when the import price increased by 21% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Israel ($X per ton) and Qatar ($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 Bahrain (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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