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Thursday , February 9 2023

Study done on ‘competition’ between 6 local, Gulf dairy cos, factories in Kuwait

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KUWAIT CITY, June 16: The EXCPR Consulting and Business Management Company shed light on the dairy sector in Kuwait, indicating that the local market is witnessing competition between about six local and Gulf dairy companies and factories, reports Al-Anba daily. It explained that these six companies are Almarai Company, the National Agricultural Development Company (NADEC), Al-SafiDanone Company Ltd., Al-Othman Agricultural Production and Processing Company (NADA), KDD Company, and Kuwait Dairy Company – KDCOW.

These companies and others compete with each other to obtain the largest share of the local market by developing their production lines and keeping pace with the needs and desires of customers in the local market, in addition to diversifying the products offered. The most prominent products offered by these companies to customers in Kuwait are fresh milk, long-life milk, and long-life flavored milk, and yogurt products.

Competing
EXCPR stated that the study aims to measure the most actively competing companies in the dairy sector in Kuwait for the year 2022, with the aim of developing the quality level of services and products provided by companies. It revealed, based on the study, that one of these companies controls about 48.4 percent of the dairy sector in Kuwait, while another company takes up 21.6 percent of the local market.

The results of EXCPR research based on the data of customers’ consumption of dairy products in the local market in Kuwait, during the month of February 2022, indicate that the volume of consumption of the yogurt products constituted about 32.2 percent of the total consumption of dairy products in the local market, and the volume of consumption of the fresh milk product is about 27.2 percent of the total market volume. After monitoring the activity of competing companies in long-life milk products in the local market, it was revealed that the market share and great competition between the leading companies were equal at 31 percent. In contrast, the third place was taken by one of the companies with a rate of 18.5 percent of the total sector. The yogurt sector is witnessing great competition in the local market, with the competing companies relying mainly on promotional operations to sell more of their products to customers.

Controlled
One of the competing companies controlled about 44.7 percent of the total volume of the yogurt sector in Kuwait. The second and third places were taken by other competing companies at a rate of 17.5 percent and 12.6 percent respectively. In conclusion, the CEO of EXCPR Consulting Engr Nayef bin Abdul Jaleel Bastaki explained that developing the production lines and simulating the desires of customers are the most important factors in building the market share of companies in the future.

The diversity of products and their continuous presence, either on the shelves or in the minds of customers, is one of the important matters in the continuity of competition and for maintaining advanced positions. The market share is one of the basic and important indicators that the members of the board of directors and the rest of the executive management rely on, as it helps in understanding the company’s activity and its ability to compete in the markets, in addition to keeping up with the changes that appear in the behavior of customers from time to time.

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