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

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

The Chilean market for condensed or evaporated milk (unsweetened) surged to $X in 2021, with an increase of 37% against the previous year. Over the period under review, consumption showed prominent growth. Unsweetened condensed and evaporated milk consumption peaked in 2021 and is likely to continue growth in the immediate term.

Production of Condensed Or Evaporated Milk (Unsweetened) in Chile

In value terms, unsweetened condensed and evaporated milk production shrank to $X in 2021 estimated in export price. Overall, production continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2018 when the production volume increased by 14%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Chile

In 2021, approx. X tons of condensed or evaporated milk (unsweetened) were exported from Chile; increasing by 16% compared with the previous year's figure. Overall, exports showed prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by 211% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, unsweetened condensed and evaporated milk exports surged to $X in 2021. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 263% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Bolivia (X tons) was the main destination for unsweetened condensed and evaporated milk exports from Chile, accounting for a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bolivia totaled +10.5%.

In value terms, Bolivia ($X) also remains the key foreign market for condensed or evaporated milk (unsweetened) exports from Chile.

From 2012 to 2021, the average annual rate of growth in terms of value to Bolivia totaled +28.5%.

Export Prices by Country

The average export price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, with an increase of 13% against the previous year. In general, the export price continues to indicate resilient growth. The pace of growth appeared the most rapid in 2019 when the average export price increased by 176%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Bolivia.

From 2012 to 2021, the rate of growth in terms of prices for Bolivia amounted to +16.3% per year.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Chile

For the third consecutive year, Chile recorded growth in overseas purchases of condensed or evaporated milk (unsweetened), which increased by 3.2% to X tons in 2021. Overall, imports recorded a prominent expansion. The growth pace was the most rapid in 2013 with an increase of 101%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, unsweetened condensed and evaporated milk imports skyrocketed to $X in 2021. In general, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 72% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Peru (X tons) constituted the largest supplier of unsweetened condensed and evaporated milk to Chile, accounting for a 72% share of total imports. Moreover, unsweetened condensed and evaporated milk imports from Peru exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Peru totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+1,199.0% per year) and Germany (+567.2% per year).

In value terms, Peru ($X), Mexico ($X) and Germany ($X) appeared to be the largest unsweetened condensed and evaporated milk suppliers to Chile, together accounting for 97% of total imports.

Mexico, with a CAGR of +754.0%, recorded the highest growth rate of the value of imports, among 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 2021, the average import price for condensed or evaporated milk (unsweetened) amounted to $X per ton, picking up by 55% against the previous year. Over the period under review, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unsweetened condensed and evaporated milk import price increased by +65.1% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Mexico ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (-1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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