ASEAN: Market for Powdered, Evaporated And Condensed Milk 2024

Market Size for Powdered, Evaporated And Condensed Milk in ASEAN

In 2022, the ASEAN market for powdered, evaporated and condensed milk increased by X% to $X, rising for the sixth consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to continue growth in the immediate term.

Production of Powdered, Evaporated And Condensed Milk in ASEAN

In value terms, powdered, evaporated and condensed milk production totaled $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Powdered, Evaporated And Condensed Milk

Exports in ASEAN

In 2022, exports of powdered, evaporated and condensed milk in ASEAN contracted markedly to X tons, dropping by X% against the previous year. Overall, exports showed a noticeable descent. The growth pace was the most rapid in 2015 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, powdered, evaporated and condensed milk exports rose significantly to $X in 2022. In general, exports saw a perceptible slump. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Malaysia (X tons), distantly followed by Singapore (X tons), Vietnam (X tons), Thailand (X tons), Indonesia (X tons) and the Philippines (X tons) represented the main exporters of powdered, evaporated and condensed milk, together generating X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, Singapore ($X), Malaysia ($X) and Vietnam ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, surging by X% against the previous year. Overall, the export price recorded 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.

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 the Philippines ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Imports of Powdered, Evaporated And Condensed Milk

Imports in ASEAN

In 2022, after three years of decline, there was significant growth in purchases abroad of powdered, evaporated and condensed milk, when their volume increased by X% to X tons. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, powdered, evaporated and condensed milk imports skyrocketed to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons), distantly followed by the Philippines (X tons), Malaysia (X tons), Vietnam (X tons), Thailand (X tons) and Singapore (X tons) represented the key importers of powdered, evaporated and condensed milk, together achieving X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), the Philippines ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, Indonesia, with a CAGR of X%, 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

The import price in ASEAN stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered, evaporated and condensed milk import price increased by X% against 2016 indices. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Malaysia ($X per ton) and Thailand ($X per ton), while Vietnam ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform