Kuwait: Frozen Chicken Cut Market 2024

Frozen Chicken Cut Market Size in Kuwait

The Kuwaiti frozen chicken cut market contracted remarkably to $X in 2022, with a decrease of -19.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw tangible growth. Frozen chicken cut consumption peaked at $X in 2021, and then contracted markedly in the following year.

Frozen Chicken Cut Exports

Exports from Kuwait

Frozen chicken cut exports from Kuwait surged to X tons in 2022, picking up by 41% on 2021 figures. Over the period under review, exports recorded prominent growth. The growth pace was the most rapid in 2020 when exports increased by 716% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, frozen chicken cut exports soared to $X in 2022. In general, exports saw a strong increase. The growth pace was the most rapid in 2017 when exports increased by 568%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for frozen chicken cut exports from Kuwait, with a 39% share of total exports. Moreover, frozen chicken cut exports to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X tons), twofold. Qatar (X tons) ranked third in terms of total exports with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +27.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+47.6% per year) and Qatar (+47.6% per year).

In value terms, the largest markets for frozen chicken cut exported from Kuwait were the United Arab Emirates ($X), Qatar ($X) and Saudi Arabia ($X), with a combined 77% share of total exports. Bahrain, Vietnam, Iraq, Jordan, Liberia and Brazil lagged somewhat behind, together accounting for a further 19%.

Bahrain, with a CAGR of +42.5%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average frozen chicken cut export price amounted to $X per ton, leveling off at the previous year. Overall, the export price saw a mild downturn. The most prominent rate of growth was recorded in 2017 an increase of 42% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Liberia (+6.9%), while the prices for the other major destinations experienced a decline.

Frozen Chicken Cut Imports

Imports into Kuwait

In 2022, imports of frozen cuts of chicken into Kuwait reduced rapidly to X tons, waning by -15.4% compared with the year before. Overall, imports, however, saw prominent growth. The pace of growth was the most pronounced in 2015 when imports increased by 324% against the previous year. Imports peaked at X tons in 2021, and then fell markedly in the following year.

In value terms, frozen chicken cut imports shrank significantly to $X in 2022. In general, imports, however, recorded a perceptible increase. The growth pace was the most rapid in 2015 with an increase of 415%. Imports peaked at $X in 2021, and then fell dramatically in the following year.

Imports by Country

In 2022, Brazil (X tons) constituted the largest frozen chicken cut supplier to Kuwait, accounting for a 58% share of total imports. Moreover, frozen chicken cut imports from Brazil exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil stood at +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+19.3% per year) and the United States (+6.9% per year).

In value terms, the largest frozen chicken cut suppliers to Kuwait were Brazil ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), together accounting for 87% of total imports.

The United Arab Emirates, with a CAGR of +17.5%, saw the highest rates of growth with regard to 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

The average frozen chicken cut import price stood at $X per ton in 2022, with a decrease of -2.4% against the previous year. Overall, the import price continues to indicate a slight slump. The pace of growth appeared the most rapid in 2015 when the average import price increased by 21%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for the United States ($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 (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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