Saudi Arabia: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in Saudi Arabia

In 2022, the Saudi buttermilk and buttermilk powder market increased by 12% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 -33.2% against 2018 indices. Buttermilk and buttermilk powder consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Buttermilk And Buttermilk Powder in Saudi Arabia

In value terms, buttermilk and buttermilk powder production shrank to $X in 2022 estimated in export price. Over the period under review, the total production indicated a temperate increase 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. Based on 2022 figures, production increased by +1.7% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 51%. Buttermilk and buttermilk powder production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Buttermilk And Buttermilk Powder

Exports from Saudi Arabia

After three years of growth, shipments abroad of buttermilk and buttermilk powder decreased by -23% to X tons in 2022. Overall, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 198% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, buttermilk and buttermilk powder exports contracted significantly to $X in 2022. In general, exports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 269% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bahrain (X tons), the United Arab Emirates (X tons) and Oman (X tons) were the main destinations of buttermilk and buttermilk powder exports from Saudi Arabia, with a combined 76% share of total exports. Kuwait, Jordan and Yemen lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Yemen (with a CAGR of +82.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for buttermilk and buttermilk powder exported from Saudi Arabia were the United Arab Emirates ($X), Kuwait ($X) and Bahrain ($X), together comprising 72% of total exports. Oman, Jordan and Yemen lagged somewhat behind, together comprising a further 28%.

Yemen, with a CAGR of +71.0%, saw the highest rates of growth with regard to 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 2022, the average buttermilk and buttermilk powder export price amounted to $X per ton, with an increase of 5% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2014 when the average export price increased by 27%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the 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 Kuwait ($X per ton), while the average price for exports to Jordan ($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 Kuwait (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Buttermilk And Buttermilk Powder

Imports into Saudi Arabia

After two years of decline, purchases abroad of buttermilk and buttermilk powder increased by 14% to X tons in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 26%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, buttermilk and buttermilk powder imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a slight reduction. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of buttermilk and buttermilk powder to Saudi Arabia, accounting for a 70% share of total imports. Moreover, buttermilk and buttermilk powder imports from Turkey exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fivefold. The third position in this ranking was taken by New Zealand (X tons), with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey amounted to -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+50.6% per year) and New Zealand (-5.1% per year).

In value terms, Turkey ($X) constituted the largest supplier of buttermilk and buttermilk powder to Saudi Arabia, comprising 75% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by New Zealand, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey totaled -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+35.0% per year) and New Zealand (-6.5% per year).

Import Prices by Country

In 2022, the average buttermilk and buttermilk powder import price amounted to $X per ton, picking up by 6.4% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 8.9% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Turkey ($X per ton) and Jordan ($X per ton), while the price for Germany ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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