Bangladesh: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Bangladesh

The Bangladeshi evaporated and condensed milk market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption, however, saw prominent growth. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Evaporated And Condensed Milk in Bangladesh

In value terms, evaporated and condensed milk production stood at $X in 2022 estimated in export price. Over the period under review, production continues to indicate a dramatic slump. The growth pace was the most rapid in 2018 with an increase of 9,831,000% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Evaporated And Condensed Milk

Exports from Bangladesh

After three years of decline, overseas shipments of evaporated and condensed milk increased by 47% to X tons in 2022. In general, exports, however, recorded a sharp descent. The pace of growth was the most pronounced in 2015 when exports increased by 478%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk exports soared to $X in 2022. Over the period under review, exports, however, saw a dramatic decline. The pace of growth was the most pronounced in 2015 with an increase of 387%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Maldives (X tons), New Zealand (X tons) and Brunei Darussalam (X kg) were the main destinations of evaporated and condensed milk exports from Bangladesh, together comprising 98% of total exports.

From 2012 to 2022, the biggest increases were recorded for Brunei Darussalam (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, Maldives ($X), New Zealand ($X) and Brunei Darussalam ($X) were the largest markets for evaporated and condensed milk exported from Bangladesh worldwide, together comprising 96% of total exports.

Among the main countries of destination, Brunei Darussalam, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average evaporated and condensed milk export price stood at $X per ton in 2022, falling by -8.1% against the previous year. Over the period under review, the export price continues to indicate a mild curtailment. The pace of growth was the most pronounced in 2021 an increase of 14% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Maldives ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+8.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Evaporated And Condensed Milk

Imports into Bangladesh

In 2022, purchases abroad of evaporated and condensed milk was finally on the rise to reach X tons after two years of decline. Over the period under review, imports posted strong growth. The pace of growth was the most pronounced in 2019 with an increase of 324%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, evaporated and condensed milk imports reached $X in 2022. Overall, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 359%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Australia (X tons), Malaysia (X tons) and New Zealand (X tons) were the main suppliers of evaporated and condensed milk imports to Bangladesh, together comprising 47% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by New Zealand (with a CAGR of +56.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Germany ($X) and the United States ($X) were the largest evaporated and condensed milk suppliers to Bangladesh, together accounting for 42% of total imports.

Germany, with a CAGR of +55.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average evaporated and condensed milk import price amounted to $X per ton, rising by 5.1% against the previous year. Over the last decade, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2017 an increase of 29%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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