Australia and Oceania: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Australia and Oceania

The evaporated and condensed milk market in Australia and Oceania skyrocketed to $X in 2022, jumping by 17% against the previous year. Overall, consumption posted buoyant growth. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Production of Evaporated And Condensed Milk in Australia and Oceania

In value terms, evaporated and condensed milk production totaled $X in 2022 estimated in export price. Overall, production posted a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 52%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of evaporated and condensed milk production was Australia (X tons), accounting for 73% of total volume. Moreover, evaporated and condensed milk production in Australia exceeded the figures recorded by the second-largest producer, New Zealand (X tons), threefold.

In Australia, evaporated and condensed milk production increased at an average annual rate of +15.1% over the period from 2012-2022.

Exports of Evaporated And Condensed Milk

Exports in Australia and Oceania

In 2022, approx. X tons of evaporated and condensed milk were exported in Australia and Oceania; increasing by 23% compared with the previous year. Over the period under review, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 54% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, evaporated and condensed milk exports surged to $X in 2022. Overall, exports saw a prominent increase. The growth pace was the most rapid in 2016 when exports increased by 40% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Australia (X tons) was the key exporter of evaporated and condensed milk, committing 76% of total exports. It was distantly followed by New Zealand (X tons), generating a 24% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to evaporated and condensed milk exports from Australia stood at +15.5%. At the same time, New Zealand (+35.6%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +35.6% from 2012-2022. New Zealand (+18 p.p.) significantly strengthened its position in terms of the total exports, while Australia saw its share reduced by -17.9% from 2012 to 2022, respectively.

In value terms, Australia ($X) remains the largest evaporated and condensed milk supplier in Australia and Oceania, comprising 79% of total exports. The second position in the ranking was held by New Zealand ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Australia amounted to +12.5%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the export price recorded a perceptible curtailment. The pace of growth was the most pronounced in 2018 an increase of 10% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably 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 amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (-2.6%).

Imports of Evaporated And Condensed Milk

Imports in Australia and Oceania

After three years of growth, overseas purchases of evaporated and condensed milk decreased by -1.3% to X tons in 2022. In general, imports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 54%. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined slightly in the following year.

In value terms, evaporated and condensed milk imports expanded notably to $X in 2022. Overall, imports, however, posted strong growth. The most prominent rate of growth was recorded in 2020 when imports increased by 58% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

Australia represented the main importer of evaporated and condensed milk in Australia and Oceania, with the volume of imports accounting for X tons, which was approx. 68% of total imports in 2022. It was distantly followed by New Zealand (X tons), generating a 17% share of total imports. Fiji (X tons), Solomon Islands (X tons), Vanuatu (X tons), Papua New Guinea (X tons) and Kiribati (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to evaporated and condensed milk imports into Australia stood at +18.1%. At the same time, Solomon Islands (+49.5%), Kiribati (+17.5%), Vanuatu (+6.3%) and Fiji (+1.8%) displayed positive paces of growth. Moreover, Solomon Islands emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +49.5% from 2012-2022. By contrast, New Zealand (-1.7%) and Papua New Guinea (-2.0%) illustrated a downward trend over the same period. Australia (+39 p.p.) and Solomon Islands (+2.6 p.p.) significantly strengthened its position in terms of the total imports, while Fiji, Papua New Guinea and New Zealand saw its share reduced by -2.7%, -3.3% and -27.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported evaporated and condensed milk in Australia and Oceania, comprising 69% of total imports. The second position in the ranking was taken by New Zealand ($X), with an 18% share of total imports. It was followed by Solomon Islands, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia amounted to +18.5%. In the other countries, the average annual rates were as follows: New Zealand (-1.1% per year) and Solomon Islands (+53.9% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, surging by 14% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 25%. The level of import peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Solomon Islands (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :