Africa: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Africa

For the fourth year in a row, the African evaporated and condensed milk market recorded growth in sales value, which increased by 3.5% to $X in 2022. Overall, consumption, however, saw a pronounced decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Evaporated And Condensed Milk in Africa

In value terms, evaporated and condensed milk production contracted modestly to $X in 2022 estimated in export price. Overall, production, however, showed a pronounced contraction. The pace of growth appeared the most rapid in 2016 when the production volume increased by 27% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were South Africa (X tons), Togo (X tons) and Zimbabwe (X tons), together comprising 95% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Togo (with a CAGR of +7.2%), while production for the other leaders experienced mixed trends in the production figures.

Exports of Evaporated And Condensed Milk

Exports in Africa

After two years of decline, shipments abroad of evaporated and condensed milk increased by 9.7% to X tons in 2022. The total export volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2019 when exports increased by 15%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, evaporated and condensed milk exports expanded sharply to $X in 2022. In general, exports, however, continue to indicate a mild descent. The pace of growth was the most pronounced in 2014 with an increase of 11% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Togo (X tons) and South Africa (X tons) dominates exports structure, together mixing up 92% of total exports. It was distantly followed by Ghana (X tons), making up a 5.1% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +15.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest evaporated and condensed milk supplying countries in Africa were Togo ($X), South Africa ($X) and Ghana ($X), together comprising 91% of total exports.

Togo, with a CAGR of +12.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, approximately reflecting the previous year. In general, the export price recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2018 when the export price increased by 8.6% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while South Africa ($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 (+0.4%), while the other leaders experienced a decline in the export price figures.

Imports of Evaporated And Condensed Milk

Imports in Africa

In 2022, purchases abroad of evaporated and condensed milk was finally on the rise to reach X tons after two years of decline. In general, imports, however, continue to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 29% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, evaporated and condensed milk imports reached $X in 2022. Overall, imports, however, saw a pronounced setback. The pace of growth appeared the most rapid in 2014 with an increase of 25%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Libya was the largest importing country with an import of around X tons, which finished at 31% of total imports. Burkina Faso (X tons) ranks second in terms of the total imports with a 9.6% share, followed by Togo (8.1%), Ghana (6.3%) and Cote d'Ivoire (5.3%). Mauritania (X tons), Gambia (X tons), Madagascar (X tons), Cameroon (X tons), Nigeria (X tons), Gabon (X tons), Somalia (X tons) and Djibouti (X tons) followed a long way behind the leaders.

Libya experienced a relatively flat trend pattern with regard to volume of imports of evaporated and condensed milk. At the same time, Madagascar (+24.9%), Burkina Faso (+17.7%), Togo (+14.7%), Somalia (+6.7%), Ghana (+5.2%), Gabon (+4.1%), Gambia (+3.7%) and Cote d'Ivoire (+2.6%) displayed positive paces of growth. Moreover, Madagascar emerged as the fastest-growing importer imported in Africa, with a CAGR of +24.9% from 2012-2022. By contrast, Cameroon (-2.6%), Djibouti (-4.6%), Mauritania (-6.3%) and Nigeria (-14.0%) illustrated a downward trend over the same period. While the share of Burkina Faso (+8 p.p.), Togo (+6.3 p.p.), Libya (+3.8 p.p.), Madagascar (+3 p.p.), Ghana (+3 p.p.), Cote d'Ivoire (+1.7 p.p.) and Gambia (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mauritania (-2.7 p.p.) and Nigeria (-8.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Libya ($X) constitutes the largest market for imported evaporated and condensed milk in Africa, comprising 37% of total imports. The second position in the ranking was taken by Ghana ($X), with a 6.5% share of total imports. It was followed by Burkina Faso, with a 5.6% share.

In Libya, evaporated and condensed milk imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+8.4% per year) and Burkina Faso (+18.8% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, falling by -3.4% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 9.8% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a 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 Gabon ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Somalia (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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