Middle East: Animal Fats Market 2024

Animal Fats Market Size in the Middle East

The Middle Eastern animal fats market amounted to $X in 2023, increasing by X% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market attained the peak level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Animal Fats Production in the Middle East

In value terms, animal fats production reached $X in 2023 estimated in export price. The total production indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Animal Fats Exports

Exports in the Middle East

In 2023, shipments abroad of animal fats and oils decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, animal fats exports expanded rapidly to $X in 2023. In general, exports, however, saw notable growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Saudi Arabia (X tons) was the key exporter of animal fats and oils, constituting X% of total exports. It was distantly followed by the United Arab Emirates (X tons) and Iran (X tons), together generating a X% share of total exports. Kuwait (X tons) held a minor share of total exports.

Saudi Arabia was also the fastest-growing in terms of the animal fats and oils exports, with a CAGR of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%), Iran (X%) and Kuwait (X%) displayed positive paces of growth. While the share of Saudi Arabia (X p.p.), the United Arab Emirates (X p.p.) and Iran (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest animal fats supplying countries in the Middle East were Saudi Arabia ($X), the United Arab Emirates ($X) and Iran ($X), with a combined X% share of total exports.

Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, the export price, however, recorded a pronounced decline. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced mixed trends in the export price figures.

Animal Fats Imports

Imports in the Middle East

In 2023, imports of animal fats and oils in the Middle East soared to X tons, picking up by X% against the previous year's figure. Over the period under review, imports, however, continue to indicate a abrupt decline. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, animal fats imports surged to $X in 2023. Overall, imports, however, showed a noticeable descent. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

Saudi Arabia represented the largest importing country with an import of about X tons, which finished at X% of total imports. It was distantly followed by Kuwait (X tons) and Turkey (X tons), together committing a X% share of total imports. The following importers - the United Arab Emirates (X tons), Syrian Arab Republic (X tons) and Qatar (X tons) - each accounted for a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to animal fats imports into Saudi Arabia stood at X%. At the same time, Turkey (X%), Kuwait (X%), the United Arab Emirates (X%) and Qatar (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. By contrast, Syrian Arab Republic (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Kuwait, Turkey and the United Arab Emirates increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), Turkey ($X) and Kuwait ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Among the main importing countries, Turkey, with a CAGR of X%, saw 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

In 2023, the import price in the Middle East amounted to $X per ton, rising by X% against the previous year. Import price indicated a measured increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. Over the period under review, import prices reached the peak figure in 2023 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform