Saudi Arabia: Butter Market 2024

Butter Market Size in Saudi Arabia

The Saudi butter market expanded sharply to $X in 2022, picking up by X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Butter Production in Saudi Arabia

In value terms, butter production stood at $X in 2022 estimated in export price. Over the period under review, production recorded a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Butter Exports

Exports from Saudi Arabia

In 2022, approx. X tons of butter were exported from Saudi Arabia; growing by X% compared with 2021 figures. Over the period under review, total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, butter exports expanded significantly to $X in 2022. Overall, exports posted a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bahrain (X tons) was the main destination for butter exports from Saudi Arabia, with a X% share of total exports. Moreover, butter exports to Bahrain exceeded the volume sent to the second major destination, Kuwait (X tons), fourfold. The third position in this ranking was taken by the United Arab Emirates (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bahrain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (X% per year) and the United Arab Emirates (X% per year).

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

From 2012 to 2022, the average annual growth rate of value to Bahrain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the average butter export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter export price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to Yemen ($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 Yemen (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into Saudi Arabia

In 2022, butter imports into Saudi Arabia stood at X tons, increasing by X% against 2021 figures. Over the period under review, imports, however, showed a slight slump. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, butter imports stood at $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of butter to Saudi Arabia, accounting for a X% share of total imports. Moreover, butter imports from New Zealand exceeded the figures recorded by the second-largest supplier, Denmark (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and the United States (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of butter to Saudi Arabia, comprising X% of total imports. The second position in the ranking was held by Denmark ($X), with a X% share of total imports. It was followed by the United States, with an X% share.

From 2012 to 2022, the average annual growth rate of value from New Zealand totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average butter import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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