Middle East: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in the Middle East

The Middle Eastern evaporated and condensed milk market expanded markedly to $X in 2022, with an increase of 6.6% against the previous year. Over the period under review, consumption showed buoyant growth. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2022.

Production of Evaporated And Condensed Milk in the Middle East

In value terms, evaporated and condensed milk production expanded remarkably to $X in 2022 estimated in export price. Overall, production posted a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of 32%. Over the period under review, production attained the peak level 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 the Middle East, comprising approx. 75% 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. Kuwait (X tons) ranked third in terms of total production with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Saudi Arabia stood at +11.4%. The remaining producing countries recorded the following average annual rates of production growth: Israel (+1.0% per year) and Kuwait (+2.3% per year).

Exports of Evaporated And Condensed Milk

Exports in the Middle East

In 2022, approx. X tons of evaporated and condensed milk were exported in the Middle East; declining by -6.5% against the previous year. Overall, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 41% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, evaporated and condensed milk exports declined slightly to $X in 2022. In general, exports, however, showed a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 62%. Over the period under review, the exports attained the peak figure 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 major exporter of evaporated and condensed milk, achieving 59% of total exports. It was distantly followed by the United Arab Emirates (X tons) and Kuwait (X tons), together generating a 35% share of total exports. 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 the Middle East, with a CAGR of +73.2% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates, Saudi Arabia and Oman increased by +2.9, +2.7 and +2.7 percentage points, respectively.

In value terms, the largest evaporated and condensed milk supplying countries in the Middle East were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), together accounting for 93% of total exports. Oman lagged somewhat behind, accounting for a further 2.5%.

Among the main exporting countries, Oman, with a CAGR of +65.4%, recorded 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

In 2022, the export price in the Middle East amounted to $X per ton, with an increase of 3.9% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the export price increased by 19%. The level of export peaked 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 the Middle East

In 2022, supplies from abroad of evaporated and condensed milk decreased by -2.6% to X tons, falling for the third consecutive year after eight years of growth. Total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% 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 -21.2% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 24% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, evaporated and condensed milk imports reached $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 -5.1% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 25%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) represented roughly 56% of total imports in 2022. Oman (X tons) held the next position in the ranking, followed by Kuwait (X tons), Bahrain (X tons) and Iraq (X tons). All these countries together held approx. 37% share of total imports. Qatar (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iraq (with a CAGR of +29.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest evaporated and condensed milk importing markets in the Middle East were Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X), together comprising 72% of total imports. Kuwait, Bahrain, Qatar and Iraq lagged somewhat behind, together accounting for a further 25%.

Among the main importing countries, Iraq, with a CAGR of +26.9%, 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, rising by 4.1% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 17% 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.

Prices varied noticeably by country of destination: 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 Qatar (+1.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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