MENA: Dairy Spread Market 2024

Dairy Spread Market Size in MENA

The MENA's dairy spread market shrank sharply to $X in 2022, waning by -23.7% against the previous year. Overall, consumption, however, enjoyed a resilient increase. As a result, consumption reached the peak level of $X, and then fell sharply in the following year.

Dairy Spread Production in MENA

In value terms, dairy spread production fell to $X in 2022 estimated in export price. Over the period under review, production showed a deep slump. The most prominent rate of growth was recorded in 2019 when the production volume increased by 26% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Dairy Spread Exports

Exports in MENA

In 2022, approx. X tons of dairy spreads were exported in MENA; waning by -5.4% on the previous year. Over the period under review, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 930%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, dairy spread exports contracted to $X in 2022. Overall, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 728% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

Saudi Arabia dominates exports structure, amounting to X tons, which was approx. 80% of total exports in 2022. It was distantly followed by Iran (X tons) and Turkey (X tons), together mixing up a 13% share of total exports. The following exporters - the United Arab Emirates (X tons), Egypt (X tons) and Syrian Arab Republic (X tons) - each accounted for a 5.3% share of total exports.

Exports from Saudi Arabia increased at an average annual rate of +22.4% from 2012 to 2022. At the same time, the United Arab Emirates (+32.8%), Syrian Arab Republic (+24.1%), Iran (+21.2%) and Turkey (+14.3%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +32.8% from 2012-2022. By contrast, Egypt (-8.2%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+26 p.p.) and Iran (+2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (-1.7 p.p.) and Egypt (-19.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest dairy spread supplier in MENA, comprising 80% of total exports. The second position in the ranking was held by Turkey ($X), with a 7.2% share of total exports. It was followed by Iran, with a 5.9% share.

In Saudi Arabia, dairy spread exports expanded at an average annual rate of +17.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (+10.8% per year) and Iran (+27.4% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, approximately equating the previous year. Overall, the export price, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2014 an increase of 32%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

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 Turkey ($X per ton), while Iran ($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 (+11.3%), while the other leaders experienced more modest paces of growth.

Dairy Spread Imports

Imports in MENA

In 2022, after two years of growth, there was significant decline in supplies from abroad of dairy spreads, when their volume decreased by -54.1% to X tons. Overall, imports recorded a pronounced reduction. The pace of growth was the most pronounced in 2021 with an increase of 118%. As a result, imports attained the peak of X tons, and then dropped rapidly in the following year.

In value terms, dairy spread imports dropped remarkably to $X in 2022. Over the period under review, imports continue to indicate a pronounced descent. The growth pace was the most rapid in 2021 when imports increased by 138% against the previous year. As a result, imports attained the peak of $X, and then dropped dramatically in the following year.

Imports by Country

In 2022, Oman (X tons) represented the key importer of dairy spreads, constituting 48% of total imports. The United Arab Emirates (X tons) held a 26% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (11%) and Qatar (8.2%). Jordan (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Oman (with a CAGR of +53.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest dairy spread importing markets in MENA were Oman ($X), the United Arab Emirates ($X) and Qatar ($X), with a combined 81% share of total imports.

Among the main importing countries, Oman, with a CAGR of +54.4%, recorded the highest growth rate of 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

In 2022, the import price in MENA amounted to $X per ton, declining by -8.5% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 38% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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