Australia and Oceania: Powdered Milk Market 2024

Powdered Milk Market Size in Australia and Oceania

In 2022, the powdered milk market in Australia and Oceania decreased by -6.3% to $X, falling for the third year in a row after two years of growth. In general, consumption saw a deep setback. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Powdered Milk Production in Australia and Oceania

In value terms, powdered milk production amounted to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 27% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

New Zealand (X tons) remains the largest powdered milk producing country in Australia and Oceania, accounting for 93% of total volume. Moreover, powdered milk production in New Zealand exceeded the figures recorded by the second-largest producer, Australia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in New Zealand amounted to +4.9%.

Powdered Milk Exports

Exports in Australia and Oceania

In 2022, approx. X tons of powdered milk were exported in Australia and Oceania; jumping by 38% against 2021. The total export volume increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, powdered milk exports surged to $X in 2022. Overall, exports posted a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

New Zealand dominates exports structure, recording X tons, which was approx. 93% of total exports in 2022. It was distantly followed by Australia (X tons), creating a 7.2% share of total exports.

New Zealand was also the fastest-growing in terms of the powdered milk exports, with a CAGR of +5.1% from 2012 to 2022. Australia (-2.8%) illustrated a downward trend over the same period. While the share of New Zealand (+7.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Australia (-7.3 p.p.) displayed negative dynamics.

In value terms, New Zealand ($X) remains the largest powdered milk supplier in Australia and Oceania, comprising 91% of total exports. The second position in the ranking was taken by Australia ($X), with an 8.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in New Zealand amounted to +6.6%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, surging by 7.5% against the previous year. Export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk export price increased by +69.7% against 2016 indices. The pace of growth was the most pronounced in 2017 when the export price increased by 28%. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+3.9%).

Powdered Milk Imports

Imports in Australia and Oceania

In 2022, overseas purchases of powdered milk decreased by -1.8% to X tons, falling for the second consecutive year after seven years of growth. Overall, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2019 when imports increased by 28%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, powdered milk imports reached $X in 2022. Over the period under review, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 27% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Australia prevails in imports structure, finishing at X tons, which was approx. 77% of total imports in 2022. Fiji (X tons) held the second position in the ranking, followed by New Zealand (X tons). All these countries together held near 13% share of total imports. The following importers - New Caledonia (X tons), Papua New Guinea (X tons) and French Polynesia (X tons) - each recorded a 6.5% share of total imports.

Australia was also the fastest-growing in terms of the powdered milk imports, with a CAGR of +12.6% from 2012 to 2022. At the same time, Fiji (+2.8%) and French Polynesia (+1.4%) displayed positive paces of growth. By contrast, New Caledonia (-1.3%), Papua New Guinea (-4.0%) and New Zealand (-6.2%) illustrated a downward trend over the same period. Australia (+30 p.p.) significantly strengthened its position in terms of the total imports, while New Caledonia, Fiji, Papua New Guinea and New Zealand saw its share reduced by -3.2%, -4.2%, -4.8% and -13.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported powdered milk in Australia and Oceania, comprising 75% of total imports. The second position in the ranking was held by Fiji ($X), with a 9% share of total imports. It was followed by New Zealand, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia totaled +18.8%. The remaining importing countries recorded the following average annual rates of imports growth: Fiji (+3.9% per year) and New Zealand (-3.7% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, with an increase of 7.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2013 when the import price increased by 33%. Over the period under review, import prices attained the maximum 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 New Zealand ($X per ton) and Fiji ($X per ton), while Papua New Guinea ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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