GCC: Cheese Market 2024

Cheese Market Size in GCC

The GCC cheese market skyrocketed to $X in 2023, growing by X% against the previous year. Overall, consumption showed prominent growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Cheese Production in GCC

In value terms, cheese production soared to $X in 2023 estimated in export price. In general, production saw a strong expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Cheese Exports

Exports in GCC

In 2023, exports of cheese in GCC soared to X tons, surging by X% compared with the previous year. Over the period under review, exports, however, saw a slight decline. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, cheese exports soared to $X in 2023. Total exports indicated a noticeable expansion 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. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Bahrain was the key exporting country with an export of about X tons, which finished at X% of total exports. Saudi Arabia (X tons) ranks second in terms of the total exports with a X% share, followed by Oman (X%) and the United Arab Emirates (X%).

From 2012 to 2023, the biggest increases were recorded for Oman (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

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

In terms of the main exporting countries, Oman, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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 GCC stood at $X per ton in 2023, declining by X% against the previous year. Export price indicated prominent growth from 2012 to 2023: its price 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, cheese export price increased by X% against 2021 indices. The pace of growth was the most pronounced in 2016 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then reduced in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while Oman ($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.

Cheese Imports

Imports in GCC

In 2023, the amount of cheese imported in GCC soared to X tons, growing by X% on 2022 figures. Total imports indicated mild growth from 2012 to 2023: its volume 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. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, cheese imports surged to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2023, Saudi Arabia (X tons) was the largest importer of cheese, committing X% of total imports. It was distantly followed by the United Arab Emirates (X tons), Kuwait (X tons) and Oman (X tons), together comprising a X% share of total imports. Bahrain (X tons) and Qatar (X tons) held a little share of total imports.

Imports into Saudi Arabia increased at an average annual rate of X% from 2012 to 2023. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. Qatar experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (X%), Kuwait (X%) and Bahrain (X%) illustrated a downward trend over the same period. While the share of Saudi Arabia (X p.p.) and Oman (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Bahrain (X p.p.), Kuwait (X p.p.) and 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 cheese importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), together accounting for X% of total imports. Oman, Bahrain and Qatar lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Oman, 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

In 2023, the import price in GCC amounted to $X per ton, declining by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the import price increased by X%. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Saudi Arabia ($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.

Source: IndexBox Platform