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

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

The Australian market for condensed or evaporated milk (unsweetened) was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption saw resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Condensed Or Evaporated Milk (Unsweetened) in Australia

In value terms, unsweetened condensed and evaporated milk production shrank slightly to $X in 2021 estimated in export price. In general, production, however, continues to indicate significant growth. The pace of growth was the most pronounced in 2015 with an increase of 52% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then reduced modestly in the following year.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Australia

For the third consecutive year, Australia recorded growth in shipments abroad of condensed or evaporated milk (unsweetened), which increased by 0.2% to X tons in 2021. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 70%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, unsweetened condensed and evaporated milk exports shrank slightly to $X in 2021. Over the period under review, exports posted a significant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 55%. The exports peaked at $X in 2020, and then fell in the following year.

Exports by Country

Taiwan (Chinese) (X tons), Malaysia (X tons) and China (X tons) were the main destinations of unsweetened condensed and evaporated milk exports from Australia, together accounting for 89% of total exports. These countries were followed by Japan, Indonesia, Vietnam and Hong Kong SAR, which together accounted for a further 9.6%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +9,016.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for unsweetened condensed and evaporated milk exported from Australia were Taiwan (Chinese) ($X), Malaysia ($X) and China ($X), with a combined 86% share of total exports. These countries were followed by Japan, Indonesia, Hong Kong SAR and Vietnam, which together accounted for a further 12%.

Among the main countries of destination, Vietnam, with a CAGR of +4,876.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, flattening at the previous year. Over the period under review, the export price recorded a slight slump. The pace of growth appeared the most rapid in 2018 when the average export price increased by 13% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Australia

In 2021, supplies from abroad of condensed or evaporated milk (unsweetened) increased by 120% to X tons, rising for the third year in a row after two years of decline. Overall, imports showed a significant increase. The growth pace was the most rapid in 2016 when imports increased by 724%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, unsweetened condensed and evaporated milk imports soared to $X in 2021. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 2,113%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Mexico (X tons) constituted the largest supplier of unsweetened condensed and evaporated milk to Australia, accounting for a 54% share of total imports. Moreover, unsweetened condensed and evaporated milk imports from Mexico exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Mexico amounted to +565.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+78.9% per year) and the Netherlands (+185.0% per year).

In value terms, Mexico ($X) constituted the largest supplier of condensed or evaporated milk (unsweetened) to Australia, comprising 51% of total imports. The second position in the ranking was held by Lithuania ($X), with a 21% share of total imports. It was followed by the Netherlands, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico totaled +702.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+73.6% per year) and the Netherlands (+236.2% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, growing by 21% against the previous year. In general, the import price showed a slight expansion. The most prominent rate of growth was recorded in 2016 an increase of 169% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+20.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :