United Arab Emirates: Animal Fats Market 2024

Animal Fats Market Size in the United Arab Emirates

In 2021, after three years of growth, there was significant decline in the animal fats market in the United Arab Emirates, when its value decreased by -10.3% to $X. Over the period under review, consumption, however, posted a strong increase. Over the period under review, the market reached the peak level at $X in 2020, and then fell in the following year.

Animal Fats Production in the United Arab Emirates

In value terms, animal fats production fell modestly to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2019 with an increase of 38%. Animal fats production peaked at $X in 2020, and then reduced in the following year.

Animal Fats Exports

Exports from the United Arab Emirates

In 2021, the amount of animal fats and oils exported from the United Arab Emirates soared to X tons, with an increase of 101% compared with 2020. Over the period under review, exports saw a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 179% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, animal fats exports soared to $X in 2021. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 165%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for animal fats exports from the United Arab Emirates, accounting for a 81% share of total exports. Moreover, animal fats exports to Saudi Arabia exceeded the volume sent to the second major destination, Kuwait (X tons), sevenfold. The third position in this ranking was taken by Sudan (X tons), with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia totaled +35.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+21.0% per year) and Sudan (+24.6% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for animal fats and oils exports from the United Arab Emirates, comprising 79% of total exports. The second position in the ranking was held by Kuwait ($X), with a 13% share of total exports. It was followed by Egypt, with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia stood at +34.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+20.3% per year) and Egypt (+2.9% per year).

Export Prices by Country

In 2021, the average animal fats export price amounted to $X per ton, with an increase of 17% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were Kuwait ($X per ton) and Egypt ($X per ton), while the average price for exports to Sudan ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+27.1%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Fats Imports

Imports into the United Arab Emirates

In 2021, animal fats imports into the United Arab Emirates reduced remarkably to X tons, declining by -24.7% on the previous year's figure. In general, imports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2013 with an increase of 206% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, animal fats imports expanded notably to $X in 2021. Over the period under review, imports, however, continue to indicate perceptible growth. The most prominent rate of growth was recorded in 2016 with an increase of 173%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Iran (X tons), Australia (X tons) and Brazil (X tons) were the main suppliers of animal fats imports to the United Arab Emirates, with a combined 66% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of +100.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest animal fats suppliers to the United Arab Emirates were Australia ($X), Brazil ($X) and Iran ($X), together comprising 53% of total imports.

Iran, with a CAGR of +85.4%, 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

The average animal fats import price stood at $X per ton in 2021, rising by 40% against the previous year. Overall, the import price, however, faced a abrupt decline. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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