GCC: Turkey Meat Market 2024

Turkey Meat Market Size in GCC

In 2022, the GCC turkey meat market increased by X% to $X, rising for the third year in a row after four years of decline. Over the period under review, consumption, however, faced a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Turkey Meat Production in GCC

In value terms, turkey meat production reached $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 remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

The country with the largest volume of turkey meat production was Oman (X tons), comprising approx. X% of total volume. It was followed by Qatar (X tons), with a X% share of total production.

In Oman, turkey meat production increased at an average annual rate of X% over the period from 2012-2022.

Turkey Meat Exports

Exports in GCC

In 2022, overseas shipments of turkey meat increased by X% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, saw a sharp decrease. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, turkey meat exports contracted modestly to $X in 2022. In general, exports, however, continue to indicate a precipitous setback. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates was the key exporting country with an export of around X tons, which resulted at X% of total exports. Oman (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Kuwait (X%).

The United Arab Emirates was also the fastest-growing in terms of the turkey meat exports, with a CAGR of X% from 2012 to 2022. Kuwait (X%) and Oman (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while Oman saw its share reduced by X% from 2012 to 2022, respectively.

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

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

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, dropping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021, and then fell markedly in the following year.

There were significant differences in the average prices 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 the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Turkey Meat Imports

Imports in GCC

In 2022, supplies from abroad of turkey meat increased by X% to X tons, rising for the second year in a row after five years of decline. Overall, imports, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, turkey meat imports expanded sharply to $X in 2022. In general, imports, however, continue to indicate a drastic downturn. The growth pace was the most rapid in 2015 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the key importer of turkey meat in GCC, with the volume of imports recording X tons, which was near X% of total imports in 2022. Saudi Arabia (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (X%) and Qatar (X%). Oman (X tons) followed a long way behind the leaders.

Imports into the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Oman (X%), Qatar (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (X p.p.) and 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 ($X) constitutes the largest market for imported turkey meat in GCC, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

In the United Arab Emirates, turkey meat imports remained relatively stable 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, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :