Australia and Oceania: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in Australia and Oceania

The market for condensed or evaporated milk (unsweetened) in Australia and Oceania totaled $X in 2021, growing by 4.7% against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Condensed Or Evaporated Milk (Unsweetened) in Australia and Oceania

In value terms, unsweetened condensed and evaporated milk production shrank to $X in 2021 estimated in export price. In general, production posted a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 46% against the previous year. The level of production peaked at $X in 2020, and then declined in the following year.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports in Australia and Oceania

For the third consecutive year, Australia and Oceania recorded growth in shipments abroad of condensed or evaporated milk (unsweetened), which increased by 7.9% to X tons in 2021. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2016 with an increase of 70% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, unsweetened condensed and evaporated milk exports stood at $X in 2021. In general, exports continue to indicate significant growth. The growth pace was the most rapid in 2016 with an increase of 54%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

Australia dominates exports structure, accounting for X tons, which was near 93% of total exports in 2021. It was distantly followed by New Zealand (X tons), making up a 7.3% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to unsweetened condensed and evaporated milk exports from Australia stood at +26.4%. At the same time, New Zealand (+55.1%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +55.1% from 2012-2021. New Zealand (+6.1 p.p.) significantly strengthened its position in terms of the total exports, while Australia saw its share reduced by -5.6% from 2012 to 2021, respectively.

In value terms, Australia ($X) remains the largest unsweetened condensed and evaporated milk supplier in Australia and Oceania, comprising 93% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 6.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia amounted to +24.6%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the export price showed a slight curtailment. The growth pace was the most rapid in 2018 when the export price increased by 13% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (-1.5%).

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports in Australia and Oceania

In 2021, overseas purchases of condensed or evaporated milk (unsweetened) increased by 81% to X tons, rising for the third consecutive year after two years of decline. In general, imports saw strong growth. The pace of growth was the most pronounced in 2016 with an increase of 277% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, unsweetened condensed and evaporated milk imports skyrocketed to $X in 2021. Overall, imports showed a strong increase. The most prominent rate of growth was recorded in 2016 when imports increased by 471% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Australia dominates imports structure, recording X tons, which was approx. 90% of total imports in 2021. It was distantly followed by New Zealand (X tons), achieving a 4.6% share of total imports. Fiji (X tons) followed a long way behind the leaders.

Australia was also the fastest-growing in terms of the condensed or evaporated milk (unsweetened) imports, with a CAGR of +24.6% from 2012 to 2021. New Zealand (-3.2%) and Fiji (-7.4%) illustrated a downward trend over the same period. While the share of Australia (+50 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Fiji (-12.6 p.p.) and New Zealand (-15 p.p.) displayed negative dynamics.

In value terms, Australia ($X) constitutes the largest market for imported condensed or evaporated milk (unsweetened) in Australia and Oceania, comprising 86% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 6.5% share of total imports.

In Australia, unsweetened condensed and evaporated milk imports expanded at an average annual rate of +27.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (-2.7% per year) and Fiji (-10.8% per year).

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per ton, with a decrease of -5.2% against the previous year. In general, the import price showed a mild reduction. The growth pace was the most rapid in 2016 an increase of 51%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+1.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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