Canada: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in Canada

The Canadian market for condensed or evaporated milk (sweetened) contracted modestly to $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Condensed Or Evaporated Milk (Sweetened) in Canada

In value terms, sweetened condensed and evaporated milk production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 50% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Canada

In 2022, overseas shipments of condensed or evaporated milk (sweetened) increased by 26% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 99%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, sweetened condensed and evaporated milk exports surged to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 103% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; afterwards, it flattened through to 2022.

Exports by Country

The United States (X tons) was the main destination for sweetened condensed and evaporated milk exports from Canada, accounting for a 85% share of total exports. Moreover, sweetened condensed and evaporated milk exports to the United States exceeded the volume sent to the second major destination, the Philippines (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest.

In value terms, the United States ($X) remains the key foreign market for condensed or evaporated milk (sweetened) exports from Canada, comprising 88% of total exports. The second position in the ranking was held by the Philippines ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +1.7%.

Export Prices by Country

In 2022, the average export price for condensed or evaporated milk (sweetened) amounted to $X per ton, rising by 7.9% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 42%. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Philippines stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+11.0%).

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Canada

In 2022, the amount of condensed or evaporated milk (sweetened) imported into Canada dropped slightly to X tons, shrinking by -2.4% on 2021. Overall, imports saw a precipitous contraction. The growth pace was the most rapid in 2015 with an increase of 90%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, sweetened condensed and evaporated milk imports surged to $X in 2022. Over the period under review, imports continue to indicate a significant curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 97%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest sweetened condensed and evaporated milk supplier to Canada, with a 74% share of total imports. Moreover, sweetened condensed and evaporated milk imports from the Netherlands exceeded the figures recorded by the second-largest supplier, the United States (X kg), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands amounted to +25.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-45.7% per year) and Poland (+99.5% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to Canada, comprising 76% of total imports. The second position in the ranking was taken by the United States ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the Netherlands stood at +22.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-45.3% per year) and Poland (+83.4% per year).

Import Prices by Country

In 2022, the average import price for condensed or evaporated milk (sweetened) amounted to $X per ton, growing by 43% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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 the Netherlands ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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