GCC: Milk Market 2024

Milk Market Size in GCC

The GCC milk market was estimated at $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Milk Production in GCC

In value terms, milk production amounted to $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; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Saudi Arabia (X tons) remains the largest milk producing country in GCC, accounting for X% of total volume. Moreover, milk production in Saudi Arabia exceeded the figures recorded by the second-largest producer, Oman (X tons), tenfold. The United Arab Emirates (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Saudi Arabia totaled X%. In the other countries, the average annual rates were as follows: Oman (X% per year) and the United Arab Emirates (X% per year).

Milk Exports

Exports in GCC

In 2022, the amount of milk exported in GCC contracted to X tons, which is down by X% compared with the previous year. Total exports indicated a pronounced expansion from 2012 to 2022: its volume 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 increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, milk exports amounted to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia represented the major exporter of milk in GCC, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), generating a X% share of total exports. The following exporters - Kuwait (X tons) and Oman (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to milk exports from Saudi Arabia stood at X%. At the same time, Oman (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. By contrast, Kuwait (X%) illustrated a downward trend over the same period. While the share of Kuwait (X p.p.), the United Arab Emirates (X p.p.) and Oman (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.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price, however, saw a mild contraction. Over the period under review, the export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Milk Imports

Imports in GCC

Milk imports dropped significantly to X tons in 2022, which is down by X% compared with the previous year's figure. Over the period under review, imports, however, showed a slight increase. The most prominent rate of growth was recorded in 2018 when imports increased by X%. The volume of import peaked at X tons in 2021, and then contracted rapidly in the following year.

In value terms, milk imports totaled $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the largest importer of milk in GCC, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2022. It was distantly followed by Kuwait (X tons) and Oman (X tons), together achieving a X% share of total imports. The following importers - Qatar (X tons) and Bahrain (X tons) - each reached a X% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the milk imports, with a CAGR of X% from 2012 to 2022. Oman (X%), Kuwait (X%), Bahrain (X%) and Qatar (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Kuwait and the United Arab Emirates increased by X and X percentage points, respectively.

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

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

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Oman ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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