U.S. - Milk - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMilk Prices in the United States
U.S. Milk Export Price per Ton in June 2022
In June 2022, the milk price per ton stood at $966.2 (FOB, US), with an increase of 3.1% against the previous month. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2022 when the average export price increased by 3.7% against the previous month. As a result, the export price attained the peak level of $1.0K per ton. From March 2022 to June 2022, the the average export prices remained at a somewhat lower figure.
Average prices varied somewhat for the major foreign markets. In June 2022, the countries with the highest prices were the Dominican Republic ($1.2K per ton) and Taiwan (Chinese) ($999.0 per ton), while the average price for exports to Canada ($847.0 per ton) and Mexico ($996.0 per ton) were amongst the lowest.
From January 2022 to June 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+4.5%), while the prices for the other major destinations experienced a decline.
U.S. Milk Export Prices by Type
There were significant differences in the average prices for the major types of exported product. In August 2022, the product with the highest price was whole fresh milk ($1.1K per ton), while the average price for exports of skim milk amounted to $673.4 per ton.
From January 2022 to August 2022, the most notable rate of growth in terms of prices was recorded for the following types: whole fresh milk (+1.5%).
U.S. Milk Exports
In August 2022, milk exports from the United States dropped to 11K tons, waning by -10.4% against the previous month's figure. Overall, total exports indicated a remarkable increase from January 2022 to August 2022: its volume increased at an average monthly rate of +7.4% over the last seven-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2022 figures, exports decreased by -23.6% against May 2022 indices. The pace of growth appeared the most rapid in February 2022 with an increase of 57% against the previous month.
In value terms, milk exports dropped to $12M (IndexBox estimates) in August 2022. In general, total exports indicated a resilient increase from January 2022 to August 2022: its value increased at an average monthly rate of +8.1% over the last seven months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2022 figures, exports decreased by -14.3% against May 2022 indices. The most prominent rate of growth was recorded in February 2022 when exports increased by 63% against the previous month.
U.S. Milk Exports by Type
Whole fresh milk (10K tons) was the largest type of milk exported from the United States, with a 93% share of total exports. Moreover, whole fresh milk exceeded the volume of the second product type, skim milk (808 tons), more than tenfold.
From January 2022 to August 2022, the average monthly rate of growth in terms of the volume of export of whole fresh milk stood at +7.0%.
In value terms, whole fresh milk ($11M) remains the largest type of milk exported from the United States, comprising 95% of total exports. The second position in the ranking was held by skim milk ($544K), with a 4.7% share of total exports.
From January 2022 to August 2022, the average monthly rate of growth in terms of the export volume of whole fresh milk totaled +8.6%.
U.S. Milk Exports by Country
Taiwan (Chinese) (5.9K tons), Canada (4.5K tons) and Mexico (611 tons) were the main destinations of milk exports from the United States, with a combined 94% share of total exports.
From January 2022 to June 2022, the biggest increases were in Taiwan (Chinese) (with a CAGR of +19.1%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the largest markets for milk exported from the United States were Taiwan (Chinese) ($5.9M), Canada ($3.8M) and the Dominican Republic ($633K), together accounting for 91% of total exports.
Taiwan (Chinese), with a CAGR of +16.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the milk market in the U.S.. 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 1130 - Camel milk
- FCL 882 - Cow milk, whole (fresh)
- FCL 1020 - Goat milk
- FCL 982 - Sheep milk
- FCL 951 - Buffalo milk
- FCL 888 - Skim Milk of Cows
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- 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
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- 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 -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- 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 Slaughtered, 2012–2023
- Yield, 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 Of Origin, 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, By Country Of Destination, 2012–2023
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This report provides an in-depth analysis of the milk market in the U.S..
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USDA forecasts that milk production in the U.S. will rise by 2.1% in 2021 thanks to gains in yield per cow as well as a slight increase in the number of milk cows. The average yearly price received by farmers for cow milk in 2021 is predicted to grow by 3.9% y-o-y amidst a rally in prices for animal feed. Rising consumer demand for cheese and butter continues to drive the market on the backdrop of lower demand for beverage milk. Demand in Asia for imported dairy products features as another factor boosting milk processing in the U.S.
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The import value of Skim Milk saw a significant decline to $295K in May 2023.
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In November 2022, the whole fresh milk price stood at $1,646 per ton (FOB, US), standing approximately at the previous month.
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In August 2022, the whole fresh milk price per ton stood at $1.1 per kg, growing by 1.7% against the previous month.
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In May 2022, the whole fresh milk price per ton amounted to $904 (FOB, US), with a decrease of -2.3% against the previous month.
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Explore the top import markets for milk based on the data provided by the IndexBox platform. Discover the countries with the highest import values for milk in 2022.
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From the shift towards plant-based alternatives to the growing demand for organic and sustainable milk products, the milk market is undergoing significant changes.
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The global milk market reduced to $778.1B in 2021, remaining constant against the previous year.
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Driven by increasing demand worldwide, the milk market is forecast to expand with an anticipated CAGR of +1.7% for the period from 2020 to 2030, which is projected to bring the market volume to 1.2B tons by the end of 2030.
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Germany dominated in the global milk trade in 2014. In 2014, Germany exported X thousand tons of milk totaling X million USD, X% over the previous year. Its primary trading partner was Italy, where it supplied X% of its total milk exports in
