Saudi Arabia: Beef Market 2024

Beef Market Size in Saudi Arabia

For the third year in a row, the Saudi beef market recorded growth in sales value, which increased by 16% to $X in 2021. The market value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Beef Production in Saudi Arabia

In value terms, beef production expanded slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the production volume increased by 50% against the previous year. Beef production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

The average yield of beef (cattle meat) in Saudi Arabia dropped to X kg per head in 2021, with a decrease of -3.8% against the previous year's figure. Over the period under review, the yield saw a slight contraction. The pace of growth appeared the most rapid in 2015 when the yield increased by 6.7% against the previous year. Over the period under review, the average beef yield reached the maximum level at X kg per head in 2017; however, from 2018 to 2021, the yield remained at a lower figure.

In 2021, the number of animals slaughtered for beef production in Saudi Arabia dropped slightly to X heads, remaining constant against 2020. In general, the number of producing animals continues to indicate a mild setback. The most prominent rate of growth was recorded in 2018 with an increase of 11% against the previous year. Over the period under review, this number hit record highs at X heads in 2013; however, from 2014 to 2021, producing animals remained at a lower figure.

Beef Exports

Exports from Saudi Arabia

Beef exports from Saudi Arabia fell dramatically to X tons in 2021, shrinking by -52.7% compared with the year before. In general, exports showed a pronounced reduction. The pace of growth appeared the most rapid in 2014 with an increase of 72%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, beef exports reduced notably to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 104% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons), Bahrain (X tons) and Yemen (X tons) were the main destinations of beef exports from Saudi Arabia, with a combined 73% share of total exports. These countries were followed by India, Iraq, Oman and Kuwait, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +17.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for beef exported from Saudi Arabia were the United Arab Emirates ($X), Bahrain ($X) and Iraq ($X), together accounting for 73% of total exports. India, Oman, Yemen and Kuwait lagged somewhat behind, together accounting for a further 18%.

Among the main countries of destination, Oman, with a CAGR of +29.8%, saw 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 2021, the average beef export price amounted to $X per ton, with an increase of 6.9% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, beef export price increased by +1.2% against 2015 indices. The growth pace was the most rapid in 2015 an increase of 39%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into Saudi Arabia

For the third consecutive year, Saudi Arabia recorded growth in overseas purchases of beef (cattle meat), which increased by 17% to X tons in 2021. In general, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, beef imports surged to $X in 2021. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), Brazil (X tons) and Australia (X tons) were the main suppliers of beef imports to Saudi Arabia, with a combined 76% share of total imports. These countries were followed by Pakistan, Ethiopia, Colombia and New Zealand, which together accounted for a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Colombia (with a CAGR of +112.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest beef suppliers to Saudi Arabia were Brazil ($X), India ($X) and Australia ($X), together comprising 71% of total imports. These countries were followed by Pakistan, Ethiopia, New Zealand and Colombia, which together accounted for a further 15%.

Among the main suppliers, Colombia, with a CAGR of +129.1%, 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

The average beef import price stood at $X per ton in 2021, increasing by 3.2% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 8.6% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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