Middle East: Whey Market 2024

Whey Market Size in the Middle East

The Middle Eastern whey market soared to $X in 2022, surging by 28% against the previous year. In general, consumption continues to indicate prominent growth. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Whey Production in the Middle East

In value terms, whey production fell dramatically to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 101% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Whey Exports

Exports in the Middle East

In 2022, after three years of growth, there was significant decline in overseas shipments of whey, when their volume decreased by -45.9% to X tons. Overall, exports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 81% against the previous year. The volume of export peaked at X tons in 2021, and then reduced markedly in the following year.

In value terms, whey exports shrank significantly to $X in 2022. Over the period under review, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by 72%. The level of export peaked at $X in 2021, and then reduced markedly in the following year.

Exports by Country

Turkey dominates exports structure, amounting to X tons, which was near 86% of total exports in 2022. It was distantly followed by Iran (X tons), making up a 9.6% share of total exports. Israel (X tons) took a little share of total exports.

Exports from Turkey increased at an average annual rate of +8.7% from 2012 to 2022. At the same time, Iran (+24.3%) and Israel (+14.8%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +24.3% from 2012-2022. From 2012 to 2022, the share of Iran increased by +6.9 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest whey supplier in the Middle East, comprising 89% of total exports. The second position in the ranking was taken by Iran ($X), with a 4.7% share of total exports.

In Turkey, whey exports increased at an average annual rate of +11.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (+29.4% per year) and Israel (-3.1% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, rising by 30% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+4.1%), while the other leaders experienced mixed trends in the export price figures.

Whey Imports

Imports in the Middle East

In 2022, purchases abroad of whey decreased by -20.9% to X tons for the first time since 2017, thus ending a four-year rising trend. Total imports indicated a measured expansion from 2012 to 2022: its volume 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. The pace of growth was the most pronounced in 2013 when imports increased by 29% against the previous year. The volume of import peaked at X tons in 2021, and then fell significantly in the following year.

In value terms, whey imports contracted markedly to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when imports increased by 50% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then shrank sharply in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons), distantly followed by Iran (X tons), Syrian Arab Republic (X tons), Yemen (X tons), Jordan (X tons), Iraq (X tons) and Israel (X tons) were the key importers of whey, together mixing up 87% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iraq (with a CAGR of +24.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest whey importing markets in the Middle East were the United Arab Emirates ($X), Iran ($X) and Syrian Arab Republic ($X), with a combined 70% share of total imports. Yemen, Jordan, Iraq and Israel lagged somewhat behind, together comprising a further 19%.

Among the main importing countries, Iraq, with a CAGR of +29.0%, 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 2.1% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 23%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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