Kuwait: Dairy Spread Market 2024

Dairy Spread Market Size in Kuwait

In 2022, the Kuwaiti dairy spread market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -17.8% against 2018 indices. Dairy spread consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Dairy Spread Production in Kuwait

In value terms, dairy spread production surged to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2013 with an increase of 168%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Dairy Spread Exports

Exports from Kuwait

After seven years of growth, shipments abroad of dairy spreads decreased by -4.5% to X tons in 2022. In general, exports showed a drastic downturn. The pace of growth was the most pronounced in 2017 with an increase of 68%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, dairy spread exports dropped to $X in 2022. Overall, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 96%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for dairy spread exports from Kuwait, accounting for a 83% share of total exports. Moreover, dairy spread exports to Saudi Arabia exceeded the volume sent to the second major destination, Bahrain (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia totaled -9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (-1.9% per year) and the United Arab Emirates (-30.0% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for dairy spreads exports from Kuwait, comprising 89% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 9.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia totaled -13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (-12.0% per year) and the United Arab Emirates (-37.2% per year).

Export Prices by Country

The average dairy spread export price stood at $X per ton in 2022, shrinking by -1.6% against the previous year. Overall, the export price saw a abrupt decrease. The growth pace was the most rapid in 2013 an increase of 30% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (-4.7%), while the prices for the other major destinations experienced a decline.

Dairy Spread Imports

Imports into Kuwait

In 2022, approx. X tons of dairy spreads were imported into Kuwait; falling by -2.9% on the previous year's figure. In general, imports, however, saw a buoyant expansion. The growth pace was the most rapid in 2015 with an increase of 172%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, dairy spread imports dropped modestly to $X in 2022. Over the period under review, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 214%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Saudi Arabia (X tons), New Zealand (X tons) and Australia (X tons) were the main suppliers of dairy spread imports to Kuwait, together accounting for 77% of total imports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +29.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Saudi Arabia ($X) and the Netherlands ($X) appeared to be the largest dairy spread suppliers to Kuwait, with a combined 84% share of total imports. Malaysia, the United States, India and Australia lagged somewhat behind, together comprising a further 8.2%.

Malaysia, with a CAGR of +26.2%, recorded the highest growth rate of 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

In 2022, the average dairy spread import price amounted to $X per ton, stabilizing at the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 34% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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