The GCC countries are not only world’s largest consumers of meat but also among the world's largest importers of meat. Kuwait is completely dependent on imports for its food supply. In 2015, Kuwait imported around USD 556.5 million worth of edible meat, which includes bovine, poultry, goat and sheep, etc. The main food products in Kuwait are fresh vegetables, cow milk and poultry meat. The Kuwait meat market is expected to reach XXX thousand tons, regarding volume, by 2021. It is forecasted to increase at a CAGR of X% between 2016 and 2021.
Key factors in the growth of the edible meat market of Kuwait are robust economic growth, changing consumer trends, and advanced technologies. Growing population is another factor responsible for the increased consumption. Moreover, the affluent local population has shifted its consumption patterns from a carbohydrate-based diet to protein-based diet. This has increased the demand for meat and meat products. Urbanization and growing popularity of retail format, together, are enhancing the consumption of processed food, milk and meat.
Restraints and Challenges
Major factors affecting the Kuwait edible meat market are low agro production, low animal feed production/stock and poor availability of labor. In addition to the already existing constraints, classification of red meat and processed meat as, possibly, carcinogenic foods by the WHO is reducing the consumption of these products in certain sections of the educated population. Moreover, the operating costs in the region are very high.
The Kuwaiti government encourages the establishment of new poultry farms and the expansion of existing ones to attain the maximum self-sufficiency possible in meat production. Hence, there are a lot of opportunities in the country regarding trade, food processing and infrastructure requirements. As many importers in this region import live animals, there exist great opportunities for setting up slaughter houses and processing plants in the region
About the Market
o Drivers: What are the key factors driving growth in the market?
o Restraints: Most relevant threats and restraints which hinder the growth of the market?
o Opportunities: Sectors of high return or quick turn around on investment?
o Market Concentration: Porter’s 5 Forces Analysis quantified by a comprehensive list of parameters.
o Market Share Analysis: Top players in the market (by value and volume).
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