GCC: Butter And Ghee Market 2024

Butter And Ghee Market Size in GCC

The GCC butter and ghee market skyrocketed to $X in 2023, with an increase of X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Butter And Ghee Production in GCC

In value terms, butter and ghee production soared to $X in 2023 estimated in export price. Overall, production, however, posted a strong increase. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Butter And Ghee Exports

Exports in GCC

In 2023, the amount of butter and ghee exported in GCC soared to X tons, picking up by X% compared with the year before. Over the period under review, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, butter and ghee exports skyrocketed to $X in 2023. Overall, exports recorded a resilient expansion. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the largest exporting country with an export of around X tons, which amounted to X% of total exports. It was distantly followed by the United Arab Emirates (X tons), comprising a X% share of total exports. Bahrain (X tons) and Kuwait (X tons) followed a long way behind the leaders.

Exports from Saudi Arabia increased at an average annual rate of X% from 2012 to 2023. At the same time, Bahrain (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. Saudi Arabia (X p.p.), Bahrain (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Saudi Arabia ($X) emerged as the largest butter and ghee supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Bahrain, with a X% share.

In Saudi Arabia, butter and ghee exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Bahrain (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, jumping by X% against the previous year. Overall, the export price showed resilient growth. The pace of growth appeared the most rapid in 2020 an increase of X%. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

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

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

Butter And Ghee Imports

Imports in GCC

In 2023, imports of butter and ghee in GCC surged to X tons, jumping by X% on the previous year. In general, imports, however, continue to indicate a slight descent. The volume of import peaked at X tons in 2014; however, from 2015 to 2023, imports failed to regain momentum.

In value terms, butter and ghee imports surged to $X in 2023. Total imports indicated a mild expansion from 2012 to 2023: its value 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. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X%. The level of import peaked at $X in 2018; however, from 2019 to 2023, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) represented roughly X% of total imports in 2023. Bahrain (X tons) held the next position in the ranking, distantly followed by Kuwait (X tons) and Qatar (X tons). All these countries together took near X% share of total imports. Oman (X tons) took a minor share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Qatar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Bahrain ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Qatar, Kuwait and Oman lagged somewhat behind, together comprising a further X%.

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

The import price in GCC stood at $X per ton in 2023, waning by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 when the import price increased by X%. The level of import peaked at $X per ton in 2022, and then contracted in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Qatar ($X per ton) and Oman ($X per ton), while Saudi Arabia ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2023, 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.

Source: IndexBox Platform