World - Evaporated And Condensed Milk - Market Analysis, Forecast, Size, Trends and Insights
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The demand for evaporated and condensed milk is on the rise globally, with market consumption expected to show steady growth over the next eight years. The market is projected to expand with a forecasted CAGR of +1.9% in volume and +4.1% in value from 2022 to 2030. The top consuming countries in 2022 were the United States, the Netherlands, and Germany, while the Netherlands and Germany were also key exporters. Condensed or evaporated milk (unsweetened) represented the majority of exports. The average export price for evaporated and condensed milk saw an increase in 2022, with significant variations by country of origin.
Market Forecast
Driven by increasing demand for evaporated and condensed milk worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.9% for the period from 2022 to 2030, which is projected to bring the market volume to 7.2M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +4.1% for the period from 2022 to 2030, which is projected to bring the market value to $14.8B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Evaporated And Condensed Milk
After two years of decline, consumption of evaporated and condensed milk increased by 2.4% to 6.2M tons in 2022. The total consumption volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. Over the period under review, global consumption reached the peak volume in 2022 and is likely to see gradual growth in the near future.
The global evaporated and condensed milk market size expanded slightly to $10.7B in 2022, surging by 4.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Global consumption peaked in 2022 and is expected to retain growth in the near future.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were the United States (1M tons), the Netherlands (640K tons) and Germany (564K tons), with a combined 36% share of global consumption. Peru, Malaysia, Singapore, Mexico, Belarus, the UK, the United Arab Emirates, Russia, Greece and China lagged somewhat behind, together comprising a further 34%.
From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +10.8%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($2.2B) led the market, alone. The second position in the ranking was taken by the Netherlands ($1.1B). It was followed by Peru.
From 2012 to 2022, the average annual rate of growth in terms of value in the United States was relatively modest. The remaining consuming countries recorded the following average annual rates of market growth: the Netherlands (+9.0% per year) and Peru (+3.0% per year).
The countries with the highest levels of evaporated and condensed milk per capita consumption in 2022 were the Netherlands (37 kg per person), Singapore (36 kg per person) and Belarus (19 kg per person).
From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +10.1%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Evaporated And Condensed Milk
In 2022, the amount of evaporated and condensed milk produced worldwide stood at 6M tons, therefore, remained relatively stable against 2021 figures. The total output volume increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 13% against the previous year. Global production peaked at 6.1M tons in 2020; however, from 2021 to 2022, production remained at a lower figure. The general positive trend in terms output was largely conditioned by a modest increase of the number of producing animals and a relatively flat trend pattern in yield figures.
In value terms, evaporated and condensed milk production reached $9.9B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 11% against the previous year. Global production peaked at $10B in 2020; however, from 2021 to 2022, production remained at a lower figure.
Production By Country
The countries with the highest volumes of production in 2022 were the United States (1M tons), Germany (764K tons) and the Netherlands (763K tons), together accounting for 42% of global production.
From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by the Netherlands (with a CAGR of +7.5%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Evaporated And Condensed Milk
In 2022, purchases abroad of evaporated and condensed milk increased by 7.7% to 2.1M tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 9.2%. As a result, imports reached the peak of 2.1M tons; afterwards, it flattened through to 2022.
In value terms, evaporated and condensed milk imports soared to $3.4B in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor 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
The countries with the highest levels of evaporated and condensed milk imports in 2022 were the United Arab Emirates (261K tons), the Netherlands (197K tons), Greece (148K tons), Saudi Arabia (136K tons), Germany (116K tons), Belgium (112K tons), France (85K tons), Oman (78K tons), Libya (59K tons), the UK (51K tons), Kuwait (45K tons) and Hong Kong SAR (41K tons), together amounting to 64% of total import. The United States (37K tons) held a minor share of total imports.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Kuwait (with a CAGR of +14.4%), while imports for the other global leaders experienced more modest paces of growth.
In value terms, the largest evaporated and condensed milk importing markets worldwide were Saudi Arabia ($313M), the United Arab Emirates ($302M) and the Netherlands ($258M), with a combined 26% share of global imports. Germany, Greece, France, Belgium, Oman, the UK, Libya, Kuwait, the United States and Hong Kong SAR lagged somewhat behind, together comprising a further 39%.
Kuwait, with a CAGR of +11.2%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Imports By Type
In 2022, condensed or evaporated milk (unsweetened) (1.5M tons) represented the main type of evaporated and condensed milk, making up 72% of total imports. It was distantly followed by condensed or evaporated milk (sweetened) (574K tons), mixing up a 28% share of total imports.
Condensed or evaporated milk (unsweetened) was also the fastest-growing in terms of imports, with a CAGR of +2.7% from 2012 to 2022. condensed or evaporated milk (sweetened) (-1.0%) illustrated a downward trend over the same period. While the share of condensed or evaporated milk (unsweetened) (+7.9 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of condensed or evaporated milk (sweetened) (-7.9 p.p.) displayed negative dynamics.
In value terms, condensed or evaporated milk (unsweetened) ($2.2B) and condensed or evaporated milk (sweetened) ($1.2B) were the products with the highest levels of imports in 2022.
Condensed or evaporated milk (unsweetened), with a CAGR of +3.2%, saw the highest growth rate of the value of imports, in terms of the main imported products over the period under review.
Import Prices By Type
In 2022, the average evaporated and condensed milk import price amounted to $1,646 per ton, picking up by 11% against the previous year. Overall, the import price showed a relatively flat trend pattern. Global import price peaked at $1,653 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major imported products. In 2022, the product with the highest price was condensed or evaporated milk (sweetened) ($2,033 per ton), while the price for condensed or evaporated milk (unsweetened) stood at $1,496 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by sweetened condensed and evaporated milk (+1.5%).
Import Prices By Country
The average evaporated and condensed milk import price stood at $1,646 per ton in 2022, picking up by 11% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $1,653 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the UK ($2,456 per ton), while the United Arab Emirates ($1,160 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.0%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Evaporated And Condensed Milk
In 2022, approx. 1.8M tons of evaporated and condensed milk were exported worldwide; almost unchanged from the previous year. The total export volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when exports increased by 11%. The global exports peaked at 2M tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.
In value terms, evaporated and condensed milk exports soared to $3.1B in 2022. The total export value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 18%. Over the period under review, the global exports reached the peak figure in 2022 and are likely to see steady growth in years to come.
Exports By Country
The Netherlands (320K tons) and Germany (315K tons) were the key exporters of evaporated and condensed milk in 2022, recording near 18% and 17% of total exports, respectively. It was distantly followed by Saudi Arabia (172K tons), Belgium (159K tons), France (102K tons) and the United Arab Emirates (95K tons), together mixing up a 29% share of total exports. Australia (53K tons), Malaysia (49K tons), Belarus (47K tons), the UK (40K tons), Togo (35K tons), Spain (35K tons) and Luxembourg (33K tons) took a little share of total exports.
From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +18.3%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, the Netherlands ($592M), Germany ($492M) and Belgium ($388M) appeared to be the countries with the highest levels of exports in 2022, with a combined 47% share of global exports. Saudi Arabia, the United Arab Emirates, France, Australia, Belarus, Spain, Malaysia, the UK, Luxembourg and Togo lagged somewhat behind, together comprising a further 31%.
The United Arab Emirates, with a CAGR of +14.3%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Exports By Type
In 2022, condensed or evaporated milk (unsweetened) (1.3M tons) was the main type of evaporated and condensed milk, generating 69% of total exports. It was distantly followed by condensed or evaporated milk (sweetened) (563K tons), comprising a 31% share of total exports.
Condensed or evaporated milk (unsweetened) was also the fastest-growing in terms of exports, with a CAGR of +1.2% from 2012 to 2022. Condensed or evaporated milk (sweetened) experienced a relatively flat trend pattern. The shares of the largest types remained relatively stable throughout the analyzed period.
In value terms, condensed or evaporated milk (unsweetened) ($2B) and condensed or evaporated milk (sweetened) ($1.1B) were the products with the highest levels of exports in 2022.
Condensed or evaporated milk (unsweetened), with a CAGR of +1.9%, recorded the highest rates of growth with regard to the value of exports, among the main exported products over the period under review.
Export Prices By Type
In 2022, the average evaporated and condensed milk export price amounted to $1,719 per ton, picking up by 15% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat amongst the major exported products. In 2022, the product with the highest price was condensed or evaporated milk (sweetened) ($2,022 per ton), while the average price for exports of condensed or evaporated milk (unsweetened) amounted to $1,585 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by sweetened condensed and evaporated milk (+1.0%).
Export Prices By Country
The average evaporated and condensed milk export price stood at $1,719 per ton in 2022, increasing by 15% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($2,432 per ton), while Togo ($628 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.1%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global market for evaporated and condensed milk. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 889 - Whole Milk, Condensed
- FCL 894 - Whole Milk, Evaporated
- FCL 895 - Skim Milk, Evaporated
- FCL 896 - Skim Milk, Condensed
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
- PRODUCING ANIMALS AND YIELD BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Producing Animals, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Producing Animals, 2012–2023
- Yield, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Producing Animals, By Country, 2023
- Producing Animals, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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