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

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

In 2022, the Saudi market for powdered, condensed or evaporated milk increased by X% to $X, rising for the third consecutive year after three years of decline. In general, the total consumption indicated notable growth 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, condensed or evaporated milk consumption peaked in 2022 and is expected to retain growth in the immediate term.

Production of Powdered, Condensed Or Evaporated Milk in Saudi Arabia

In value terms, powdered, condensed or evaporated milk production rose significantly to $X in 2022 estimated in export price. Over the period under review, production saw strong growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Powdered, condensed or evaporated milk production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Powdered, Condensed Or Evaporated Milk

Exports from Saudi Arabia

In 2022, overseas shipments of powdered, condensed or evaporated milk decreased by X% to X tons, falling for the second year in a row after nine years of growth. Overall, exports, however, continue to indicate measured growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, powdered, condensed or evaporated milk exports fell to $X in 2022. In general, total exports indicated a pronounced expansion 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 most prominent rate of growth was recorded 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 remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Kuwait (X tons) and Oman (X tons) were the main destinations of powdered, condensed or evaporated milk exports from Saudi Arabia, together accounting for X% of total exports. Bahrain, Iraq, Jordan, Libya, Yemen and Djibouti lagged somewhat behind, together accounting for 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 United Arab Emirates ($X), Kuwait ($X) and Oman ($X) constituted the largest markets for powdered, condensed or evaporated milk exported from Saudi Arabia worldwide, with a combined X% share of total exports. Bahrain, Iraq, Jordan, Yemen, Libya and Djibouti lagged somewhat behind, together accounting for a further X%.

Iraq, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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

The average export price for powdered, condensed or evaporated milk stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Powdered, Condensed Or Evaporated Milk

Imports into Saudi Arabia

In 2022, powdered, condensed or evaporated milk imports into Saudi Arabia expanded markedly to X tons, with an increase of X% compared with the previous year. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, powdered, condensed or evaporated milk imports reached $X in 2022. In general, imports, however, recorded a mild downturn. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

New Zealand (X tons), the United Arab Emirates (X tons) and the Netherlands (X tons) were the main suppliers of powdered, condensed or evaporated 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 comprising 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) constituted the largest powdered, condensed or evaporated milk suppliers to Saudi Arabia, with a combined X% share 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 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

In 2022, the average import price for powdered, condensed or evaporated milk amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the import price recorded a mild decline. The pace of growth appeared the most rapid in 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat 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 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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