Saudi Arabia: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Saudi Arabia

The Saudi evaporated and condensed milk market soared to $X in 2022, picking up by 20% against the previous year. Overall, consumption enjoyed a prominent expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Evaporated And Condensed Milk in Saudi Arabia

In value terms, evaporated and condensed milk production expanded rapidly to $X in 2022 estimated in export price. Overall, production showed buoyant growth. The growth pace was the most rapid in 2016 when the production volume increased by 62%. Evaporated and condensed milk production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Evaporated And Condensed Milk

Exports from Saudi Arabia

In 2022, approx. X tons of evaporated and condensed milk were exported from Saudi Arabia; waning by -8.6% on the previous year. Over the period under review, exports, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2013 with an increase of 55% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk exports reduced modestly to $X in 2022. Overall, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 70%. The exports peaked at $X in 2019; however, from 2020 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 evaporated and condensed milk exports from Saudi Arabia, with a combined 75% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kuwait (with a CAGR of +54.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for evaporated and condensed milk exported from Saudi Arabia were the United Arab Emirates ($X), Kuwait ($X) and Oman ($X), together accounting for 65% of total exports.

In terms of the main countries of destination, Kuwait, with a CAGR of +44.6%, recorded 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 2022, the average evaporated and condensed milk export price amounted to $X per ton, increasing by 5.7% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 28%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Evaporated And Condensed Milk

Imports into Saudi Arabia

In 2022, evaporated and condensed milk imports into Saudi Arabia totaled X tons, with an increase of 8.6% on 2021 figures. Overall, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +3.4% 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 -7.3% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 43% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, evaporated and condensed milk imports rose sharply to $X in 2022. Over the period under review, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 -6.1% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 38% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), the United Arab Emirates (X tons) and Germany (X tons) were the main suppliers of evaporated and condensed milk imports to Saudi Arabia, with a combined 63% share of total imports. New Zealand, Denmark, Spain, Kuwait and Yemen lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +63.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of evaporated and condensed milk to Saudi Arabia, comprising 33% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 15% share of total imports. It was followed by Germany, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+6.1% per year) and Germany (-4.9% per year).

Import Prices by Country

The average evaporated and condensed milk import price stood at $X per ton in 2022, leveling off at the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by 8.2% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a 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 New Zealand ($X per ton), while the price for Yemen ($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 (+0.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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