In 2017, the production of the Sultanate of Oman reached approximately 97 million tons of dairy products. In 2019, the figure rose to 101 million tons. In the framework of the Sultanate of Oman Vision 2040, and its efforts to diversify income sources away from crude oil, does the dairy products market represent an attractive investment opportunity in the Sultanate of Oman?
What are dairy products?
Dairy products represent a high nutritional value; they are rich in protein and calcium. Dairy products help avoid many health risks, as milk reduces the risk of osteoporosis, and yogurt maintains stomach health. Dairy products include cheese, butter, powdered milk, whey products, and frozen products.
The dairy products industry in the Sultanate of Oman consists of products from cows, sheep, camels, and goats, and statistics indicate an increase in the volume of dairy products in the Sultanate of Oman, proportionally with the rise in the number of cows, camels, sheep, and goats.
In 2019, the number of milk-producing cows in the Sultanate of Oman rose to 405,000, representing an increase of approximately 21.6% compared to the number of cows in 2010.
The number of camels increased from 130,000 to 273,000 heads in 2019, representing a rise of 110% compared to the rates of 2010.
In 2010, the estimated number of sheep in the sultanate was approximately 389,000 head, and this figure rose to nearly 617,000 head by 2019.
In 2010, the number of goats in the sultanate reached approximately 1,719,000 heads, and this figure increased to 2,348,000 heads by 2019.
Global demand for dairy products and their derivatives, such as yogurt, cream, butter, cheese, flavored and powdered milk, is increasing. The market value of the global dairy sector was estimated at approximately 718.9 billion US dollars in 2019. It is expected that the market value of the sector will reach 1032.7 billion US dollars by 2024.
Based on this, Mashroo3k company indicates to investors wishing to invest in the Sultanate of Oman the necessity of placing the dairy products industry in the Sultanate of Oman among the most profitable projects in the coming years, according to precise studies of the dairy sector in the Sultanate of Oman.
