Kuwait: Ice Cream Market 2024

Ice Cream Market Size in Kuwait

In 2022, the Kuwaiti ice cream market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, saw a modest expansion. Ice cream consumption peaked in 2022 and is expected to retain growth in the immediate term.

Ice Cream Production in Kuwait

In value terms, ice cream production contracted to $X in 2022 estimated in export price. In general, production recorded a pronounced downturn. The growth pace was the most rapid in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Ice Cream Exports

Exports from Kuwait

After four years of decline, overseas shipments of ice cream increased by X% to X tons in 2022. Overall, exports recorded a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ice cream exports surged to $X in 2022. In general, exports saw a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia (X tons) was the main destination for ice cream exports from Kuwait, accounting for a X% share of total exports. Moreover, ice cream exports to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. Qatar (X tons) ranked third in terms of total exports with an X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Qatar (X% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for ice cream exports from Kuwait, comprising X% of total exports. The second position in the ranking was taken by Qatar ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with an X% share.

From 2013 to 2022, the average annual growth rate of value to Saudi Arabia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the average ice cream export price amounted to $X per ton, increasing by X% against the previous year. Overall, export price indicated prominent growth from 2013 to 2022: its price increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ice cream export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ice Cream Imports

Imports into Kuwait

In 2022, supplies from abroad of ice cream increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports enjoyed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ice cream imports soared to $X in 2022. Over the period under review, imports showed a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), the United Arab Emirates (X tons) and Bahrain (X tons) were the main suppliers of ice cream imports to Kuwait, with a combined X% share of total imports.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the United Arab Emirates ($X) and Turkey ($X) constituted the largest ice cream suppliers to Kuwait, with a combined X% share of total imports.

The United Arab Emirates, with a CAGR of X%, 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 ice cream import price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 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 France ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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