MENA: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in MENA

The MENA's market for condensed or evaporated milk (unsweetened) rose significantly to $X in 2022, surging by X% against the previous year. The total consumption indicated a measured increase from 2012 to 2022: its value 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, consumption decreased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Condensed Or Evaporated Milk (Unsweetened) in MENA

In value terms, unsweetened condensed and evaporated milk production skyrocketed to $X in 2022 estimated in export price. In general, production continues to indicate a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports in MENA

In 2022, approx. X tons of condensed or evaporated milk (unsweetened) were exported in MENA; with an increase of X% compared with the year before. Overall, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, unsweetened condensed and evaporated milk exports surged to $X in 2022. In general, exports enjoyed buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia represented the key exporting country with an export of around X tons, which amounted to X% of total exports. The United Arab Emirates (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by Kuwait (X%). Oman (X tons) and Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to unsweetened condensed and evaporated milk exports from Saudi Arabia stood at X%. At the same time, Oman (X%), Bahrain (X%), Kuwait (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. While the share of Saudi Arabia (X p.p.), Oman (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest unsweetened condensed and evaporated milk supplying countries in MENA were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined X% share of total exports. Bahrain and Oman lagged somewhat behind, together comprising a further X%.

Oman, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the export price in MENA amounted to $X per ton, jumping by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports in MENA

In 2022, overseas purchases of condensed or evaporated milk (unsweetened) increased by X% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, unsweetened condensed and evaporated milk imports reached $X in 2022. Overall, imports recorded a buoyant increase. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, the United Arab Emirates (X tons) represented the key importer of condensed or evaporated milk (unsweetened), mixing up X% of total imports. Kuwait (X tons) ranks second in terms of the total imports with a X% share, followed by Oman (X%), Libya (X%), Iraq (X%) and Bahrain (X%). Qatar (X tons) held a minor 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 Iraq (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest unsweetened condensed and evaporated milk importing markets in MENA were the United Arab Emirates ($X), Kuwait ($X) and Oman ($X), together comprising X% of total imports. Libya, Iraq, Bahrain and Qatar lagged somewhat behind, together accounting for a further X%.

Iraq, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the import price saw a pronounced reduction. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 Oman (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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