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

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

In 2021, the Brazilian market for condensed or evaporated milk (unsweetened) increased by 2.1% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Production of Condensed Or Evaporated Milk (Unsweetened) in Brazil

In value terms, unsweetened condensed and evaporated milk production stood at $X in 2021 estimated in export price. In general, production continues to indicate a notable expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 157%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Brazil

In 2021, shipments abroad of condensed or evaporated milk (unsweetened) increased by 70% to X kg, rising for the sixth consecutive year after two years of decline. Overall, exports, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 191% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, unsweetened condensed and evaporated milk exports expanded significantly to $X in 2021. In general, exports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2019 when exports increased by 441% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Venezuela (X kg), Angola (X kg) and Saudi Arabia (X kg) were the main destinations of unsweetened condensed and evaporated milk exports from Brazil, with a combined 73% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of +25.7%), while the other leaders experienced more modest paces of growth.

In value terms, Venezuela ($X) remains the key foreign market for condensed or evaporated milk (unsweetened) exports from Brazil, comprising 70% of total exports. The second position in the ranking was taken by Angola ($X), with a 9.1% share of total exports. It was followed by the Philippines, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value to Venezuela stood at -5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (+3.8% per year) and the Philippines (-4.7% per year).

Export Prices by Country

The average export price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, which is down by -36% against the previous year. In general, the export price showed a pronounced descent. The pace of growth was the most pronounced in 2019 when the average export price increased by 86%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Belize ($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 Venezuela (+1.5%), while the prices for the other major destinations experienced a decline.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Brazil

In 2021, purchases abroad of condensed or evaporated milk (unsweetened) increased by 13% to X tons, rising for the third consecutive year after two years of decline. Overall, imports recorded modest growth. The growth pace was the most rapid in 2016 with an increase of 116% against the previous year. As a result, imports attained 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 rose rapidly to $X in 2021. In general, imports saw a pronounced expansion. The pace of growth appeared the most rapid in 2016 with an increase of 103%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Portugal (X tons) and the United States (X tons) were the main suppliers of unsweetened condensed and evaporated milk imports to Brazil.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +12.1%).

In value terms, Portugal ($X) constituted the largest supplier of condensed or evaporated milk (unsweetened) to Brazil, comprising 73% of total imports. The second position in the ranking was taken by the United States ($X), with a 27% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Portugal amounted to +3.5%.

Import Prices by Country

In 2021, the average import price for condensed or evaporated milk (unsweetened) amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the import price saw a moderate expansion. The most prominent rate of growth was recorded in 2017 an increase of 104% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see steady growth in years to come.

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 Portugal ($X per ton), while the price for the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+6.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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