GCC: Market for Yoghurt and Fermented Milk 2024

Market Size for Yoghurt and Fermented Milk in GCC

The GCC yoghurt and fermented milk market reached $X in 2022, with an increase of X% against the previous year. The market value 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 observed in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Yoghurt and Fermented Milk in GCC

In value terms, yoghurt and fermented milk production declined modestly 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; 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 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Saudi Arabia (X tons) constituted the country with the largest volume of yoghurt and fermented milk production, accounting for X% of total volume. Moreover, yoghurt and fermented milk production in Saudi Arabia exceeded the figures recorded by the second-largest producer, the United Arab Emirates (X tons), threefold.

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

Exports of Yoghurt and Fermented Milk

Exports in GCC

Yoghurt and fermented milk exports declined to X tons in 2022, which is down by X% on 2021. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, yoghurt and fermented milk exports fell to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia was the main exporting country with an export of around X tons, which recorded X% of total exports. The United Arab Emirates (X tons) held the second position in the ranking, followed by Kuwait (X tons). All these countries together held near X% share of total exports.

Exports from Saudi Arabia decreased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. Kuwait (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively.

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

In Saudi Arabia, yoghurt and fermented milk exports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: 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, with a decrease of X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

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

Imports of Yoghurt and Fermented Milk

Imports in GCC

In 2022, the amount of yoghurt and fermented milk imported in GCC shrank to X tons, with a decrease of X% on the previous year's figure. Total imports indicated a pronounced increase 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, imports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, yoghurt and fermented milk imports expanded modestly to $X in 2022. Total imports indicated a pronounced increase 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. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Oman (X tons) represented the major importer of yoghurt and fermented milk, constituting X% of total imports. Kuwait (X tons) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%), Bahrain (X%) and Saudi Arabia (X%).

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

In value terms, Oman ($X), Kuwait ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Oman, 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

The import price in GCC stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 ($X per ton), while Oman ($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 more modest paces of growth.

Source: IndexBox Platform

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