Africa: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in Africa

In 2022, the African market for condensed or evaporated milk (sweetened) increased by 3.1% to $X, rising for the fifth consecutive year after four years of decline. Overall, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 8%. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Condensed Or Evaporated Milk (Sweetened) in Africa

In value terms, sweetened condensed and evaporated milk production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports in Africa

In 2022, shipments abroad of condensed or evaporated milk (sweetened) increased by 25% to X tons, rising for the second consecutive year after three years of decline. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.2% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 38% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, sweetened condensed and evaporated milk exports surged to $X in 2022. Total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +36.7% against 2020 indices. The growth pace was the most rapid in 2014 when exports increased by 36% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Togo prevails in exports structure, reaching X tons, which was near 85% of total exports in 2022. It was distantly followed by South Africa (X tons), mixing up a 7.4% share of total exports. The following exporters - Senegal (X tons) and Ghana (X tons) - each resulted at a 3.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to sweetened condensed and evaporated milk exports from Togo stood at +15.1%. At the same time, Senegal (+60.2%) and Ghana (+11.8%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Africa, with a CAGR of +60.2% from 2012-2022. By contrast, South Africa (-6.2%) illustrated a downward trend over the same period. While the share of Togo (+47 p.p.) and Senegal (+2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Africa (-18.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) remains the largest sweetened condensed and evaporated milk supplier in Africa, comprising 67% of total exports. The second position in the ranking was taken by South Africa ($X), with an 18% share of total exports. It was followed by Ghana, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Togo amounted to +13.0%. The remaining exporting countries recorded the following average annual rates of exports growth: South Africa (-4.6% per year) and Ghana (+22.8% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, waning by -3.6% against the previous year. In general, the export price showed a pronounced downturn. The pace of growth appeared the most rapid in 2016 an increase of 9.2%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+9.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports in Africa

In 2022, the amount of condensed or evaporated milk (sweetened) imported in Africa rose modestly to X tons, growing by 3.1% on 2021. The total import volume increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when imports increased by 32% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, sweetened condensed and evaporated milk imports dropped to $X in 2022. Overall, imports, however, showed a slight decline. The most prominent rate of growth was recorded in 2019 with an increase of 25% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Burkina Faso (X tons), Togo (X tons), Libya (X tons), Cote d'Ivoire (X tons) and Madagascar (X tons) represented the largest importer of condensed or evaporated milk (sweetened) in Africa, constituting 58% of total import. The following importers - Cameroon (X tons), Nigeria (X tons), Ghana (X tons), Mozambique (X tons), Mali (X tons), Tunisia (X tons), South Africa (X tons) and Congo (X tons) - together made up 20% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Madagascar (with a CAGR of +29.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sweetened condensed and evaporated milk importing markets in Africa were Libya ($X), Burkina Faso ($X) and Madagascar ($X), with a combined 27% share of total imports.

Among the main importing countries, Madagascar, with a CAGR of +24.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, with a decrease of -6.9% against the previous year. Overall, the import price showed a pronounced contraction. The pace of growth appeared the most rapid in 2018 an increase of 5.5% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Africa ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+4.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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