Saudi Arabia: Animal Feed Market 2024

Animal Feed Market Size in Saudi Arabia

The Saudi animal feed market expanded sharply to $X in 2022, surging by 8.4% against the previous year. Overall, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.2% against 2020 indices. Animal feed consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Animal Feed Production in Saudi Arabia

In value terms, animal feed production totaled $X in 2022 estimated in export price. Overall, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.1% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 57%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Animal Feed Exports

Exports from Saudi Arabia

After six years of growth, overseas shipments of animal and pet feed decreased by -5% to X tons in 2022. Overall, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 185%. The exports peaked at X tons in 2021, and then contracted modestly in the following year.

In value terms, animal feed exports shrank to $X in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 164%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

Bangladesh (X tons) was the main destination for animal feed exports from Saudi Arabia, accounting for a 44% share of total exports. Moreover, animal feed exports to Bangladesh exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Bangladesh stood at +39.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+20.8% per year) and the United Arab Emirates (+27.5% per year).

In value terms, Bangladesh ($X) remains the key foreign market for animal and pet feed exports from Saudi Arabia, comprising 54% of total exports. The second position in the ranking was held by Vietnam ($X), with a 19% share of total exports. It was followed by the United Arab Emirates, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Bangladesh stood at +48.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+25.8% per year) and the United Arab Emirates (+12.8% per year).

Export Prices by Country

The average animal feed export price stood at $X per ton in 2022, which is down by -4.3% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average export price increased by 17% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Feed Imports

Imports into Saudi Arabia

Animal feed imports into Saudi Arabia rose rapidly to X tons in 2022, increasing by 11% compared with 2021 figures. In general, imports showed a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 66% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, animal feed imports expanded sharply to $X in 2022. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 -13.1% against 2018 indices. The pace of growth was the most pronounced in 2017 with an increase of 54%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of animal feed to Saudi Arabia, with a 24% share of total imports. Moreover, animal feed imports from Spain exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. The third position in this ranking was taken by Jordan (X tons), with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume from Spain amounted to -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+6.3% per year) and Jordan (+21.3% per year).

In value terms, Spain ($X), the United States ($X) and the Netherlands ($X) were the largest animal feed suppliers to Saudi Arabia, together comprising 29% of total imports. Malaysia, Jordan, the UK, New Zealand, Oman, Belgium, India, the United Arab Emirates, Morocco and China lagged somewhat behind, together accounting for a further 48%.

Oman, with a CAGR of +76.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average animal feed import price amounted to $X per ton, falling by -2.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 28% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :