Saudi Arabia: Market for Powdered, Evaporated And Condensed Milk 2024

Market Size for Powdered, Evaporated And Condensed Milk in Saudi Arabia

In 2022, the Saudi market for powdered, evaporated and condensed milk increased by X% to $X, rising for the third year in a row after three years of decline. In general, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. Powdered, evaporated and condensed milk consumption peaked in 2022 and is expected to retain growth in the immediate term.

Production of Powdered, Evaporated And Condensed Milk in Saudi Arabia

In value terms, powdered, evaporated and condensed milk production stood at $X in 2022 estimated in export price. Overall, production enjoyed a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of X%. Powdered, evaporated and condensed milk production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Powdered, Evaporated And Condensed Milk

Exports from Saudi Arabia

In 2022, shipments abroad of powdered, evaporated and condensed milk decreased by X% to X tons, falling for the second consecutive year after nine years of growth. Overall, exports, however, saw tangible growth. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, powdered, evaporated and condensed milk exports fell to $X in 2022. In general, total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons), Kuwait (X tons) and Oman (X tons) were the main destinations of powdered, evaporated and condensed milk exports from Saudi Arabia, together accounting for X% of total exports. Bahrain, Iraq, Jordan, Libya, Yemen and Djibouti lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for powdered, evaporated and condensed milk exported from Saudi Arabia were the United Arab Emirates ($X), Kuwait ($X) and Oman ($X), together accounting for X% of total exports. Bahrain, Iraq, Jordan, Yemen, Libya and Djibouti lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Iraq, with a CAGR of X%, saw the highest rates of growth with regard to 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 average export price for powdered, evaporated and condensed milk amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Djibouti ($X per ton), while the average price for exports to the United Arab Emirates ($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 Djibouti (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Powdered, Evaporated And Condensed Milk

Imports into Saudi Arabia

Powdered, evaporated and condensed milk imports into Saudi Arabia expanded remarkably to X tons in 2022, growing by X% against 2021 figures. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, powdered, evaporated and condensed milk imports rose markedly to $X in 2022. In general, imports, however, showed a mild decline. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

New Zealand (X tons), the United Arab Emirates (X tons) and the Netherlands (X tons) were the main suppliers of powdered, evaporated and condensed milk imports to Saudi Arabia, together comprising X% of total imports. Germany, Oman, Denmark, Belgium, Spain, Kuwait, Ireland, France, Yemen and Australia lagged somewhat behind, together accounting for a further X%.

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

In value terms, New Zealand ($X), the United Arab Emirates ($X) and the Netherlands ($X) were the largest powdered, evaporated and condensed milk suppliers to Saudi Arabia, together comprising X% of total imports. Germany, Oman, Denmark, Belgium, Spain, Ireland, France, Kuwait, Yemen and Australia lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Spain, with a CAGR of X%, recorded the highest growth rate of 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 import price for powdered, evaporated and condensed milk stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the import price showed a slight descent. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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