GCC: Meat Market 2024

Meat Market Size in GCC

For the sixth consecutive year, the GCC meat market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in the near future.

Meat Production in GCC

In value terms, meat production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Saudi Arabia (X tons) remains the largest meat producing country in GCC, accounting for X% of total volume. Moreover, meat production in Saudi Arabia exceeded the figures recorded by the second-largest producer, the United Arab Emirates (X tons), twofold. The third position in this ranking was taken by Oman (X tons), with a X% share.

In Saudi Arabia, meat production increased at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: the United Arab Emirates (X% per year) and Oman (X% per year).

The average meat yield dropped slightly to X kg per head in 2022, which is down by X% compared with the previous year's figure. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the meat yield hit record highs at X kg per head in 2021, and then declined slightly in the following year.

In 2022, approx. X heads of animals slaughtered for meat production in GCC; almost unchanged from the year before. This number increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2016 when the number of producing animals increased by X%. The level of producing animals peaked at X heads in 2020; however, from 2021 to 2022, producing animals stood at a somewhat lower figure.

Meat Exports

Exports in GCC

In 2022, shipments abroad of meat was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports recorded perceptible growth. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, meat exports soared to $X in 2022. Over the period under review, exports enjoyed a remarkable increase. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Saudi Arabia (X tons), creating a X% share of total exports. Oman (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the meat exports, with a CAGR of X% from 2012 to 2022. At the same time, Oman (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest meat supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

In the United Arab Emirates, meat exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced mixed trends in the export price figures.

Meat Imports

Imports in GCC

In 2022, the amount of meat imported in GCC reached X tons, picking up by X% against the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, meat imports rose markedly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

The United Arab Emirates was the largest importing country with an import of around X tons, which resulted at X% of total imports. It was distantly followed by Saudi Arabia (X tons), Kuwait (X tons), Qatar (X tons) and Oman (X tons), together generating a X% share of total imports. Bahrain (X tons) followed a long way behind the leaders.

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

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported meat in GCC, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

In the United Arab Emirates, meat imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 when the import price increased by X%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Qatar ($X per ton) and Kuwait ($X per ton), while Oman ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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