Saudi Arabia: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in Saudi Arabia

After two years of growth, the Saudi market for condensed or evaporated milk (unsweetened) decreased by -76.2% to $X in 2021. Overall, consumption, however, enjoyed pronounced growth. As a result, consumption attained the peak level of $X, and then reduced remarkably in the following year.

Production of Condensed Or Evaporated Milk (Unsweetened) in Saudi Arabia

In value terms, unsweetened condensed and evaporated milk production reduced markedly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 383%. As a result, production attained the peak level of $X, and then contracted dramatically in the following year.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Saudi Arabia

In 2021, the amount of condensed or evaporated milk (unsweetened) exported from Saudi Arabia skyrocketed to X tons, picking up by 32% compared with the previous year's figure. Over the period under review, exports saw a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by 60% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, unsweetened condensed and evaporated milk exports soared to $X in 2021. In general, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 43% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates (X tons) was the main destination for unsweetened condensed and evaporated milk exports from Saudi Arabia, accounting for a 55% share of total exports. Moreover, unsweetened condensed and evaporated milk exports to the United Arab Emirates exceeded the volume sent to the second major destination, Kuwait (X tons), threefold. Oman (X tons) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates amounted to +24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+72.9% per year) and Oman (+8.9% per year).

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Oman ($X) appeared to be the largest markets for unsweetened condensed and evaporated milk exported from Saudi Arabia worldwide, with a combined 73% share of total exports.

Kuwait, with a CAGR of +61.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination 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 export price for condensed or evaporated milk (unsweetened) amounted to $X per ton, dropping by -7.2% against the previous year. Over the period under review, the export price recorded a perceptible downturn. The pace of growth appeared the most rapid in 2017 when the average export price increased by 20% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to the United Arab Emirates ($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 Iraq (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Saudi Arabia

After four years of growth, supplies from abroad of condensed or evaporated milk (unsweetened) decreased by -12.5% to X tons in 2021. Over the period under review, imports, however, posted a perceptible increase. The most prominent rate of growth was recorded in 2019 when imports increased by 77% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then contracted in the following year.

In value terms, unsweetened condensed and evaporated milk imports dropped to $X in 2021. In general, imports, however, continue to indicate a temperate increase. The most prominent rate of growth was recorded in 2019 when imports increased by 71%. Over the period under review, imports hit record highs at $X in 2020, and then reduced in the following year.

Imports by Country

The Netherlands (X tons), the United Arab Emirates (X tons) and Germany (X tons) were the main suppliers of unsweetened condensed and evaporated milk imports to Saudi Arabia, together accounting for 72% of total imports. New Zealand, Yemen, Oman, Denmark, France, Malaysia, Bahrain and Kuwait lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bahrain (with a CAGR of +35.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United Arab Emirates ($X) and Germany ($X) constituted the largest unsweetened condensed and evaporated milk suppliers to Saudi Arabia, with a combined 67% share of total imports. New Zealand, Oman, France, Denmark, Yemen, Bahrain, Malaysia and Kuwait lagged somewhat behind, together accounting for a further 25%.

Bahrain, with a CAGR of +38.5%, 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 2021, the average import price for condensed or evaporated milk (unsweetened) amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price, however, showed a mild descent. The growth pace was the most rapid in 2020 when the average import price increased by 14% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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