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

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

The Chinese market for condensed or evaporated milk (unsweetened) expanded notably to $X in 2021, surging by 8.3% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Production of Condensed Or Evaporated Milk (Unsweetened) in China

In value terms, unsweetened condensed and evaporated milk production contracted to $X in 2021 estimated in export price. Overall, production, however, saw a mild increase. The pace of growth appeared the most rapid in 2017 with an increase of 36% against the previous year. Unsweetened condensed and evaporated milk production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from China

In 2021, shipments abroad of condensed or evaporated milk (unsweetened) increased by 2.3% to X tons, rising for the third consecutive year after two years of decline. Overall, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 268%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, unsweetened condensed and evaporated milk exports expanded sharply to $X in 2021. In general, exports, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 170%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for unsweetened condensed and evaporated milk exports from China, with a approx. 99.9% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR amounted to -12.4%.

In value terms, Hong Kong SAR ($X) also remains the key foreign market for condensed or evaporated milk (unsweetened) exports from China.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR stood at -9.7%.

Export Prices by Country

In 2021, the average export price for condensed or evaporated milk (unsweetened) amounted to $X per ton, growing by 6.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 38% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Hong Kong SAR amounted to +3.1% per year.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into China

In 2021, the amount of condensed or evaporated milk (unsweetened) imported into China soared to X tons, with an increase of 180% against 2020 figures. In general, imports enjoyed a resilient expansion. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, unsweetened condensed and evaporated milk imports skyrocketed to $X in 2021. Overall, imports posted a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest unsweetened condensed and evaporated milk supplier to China, accounting for a 58% share of total imports. Moreover, unsweetened condensed and evaporated milk imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Australia (X tons), threefold. The third position in this ranking was held by Italy (X tons), with an 18% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands totaled +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+35.2% per year) and Italy (+215.3% per year).

In value terms, the Netherlands ($X), Italy ($X) and Australia ($X) were the largest unsweetened condensed and evaporated milk suppliers to China, with a combined 95% share of total imports.

Italy, with a CAGR of +206.2%, recorded the highest rates of growth with regard to 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, shrinking by -5.6% against the previous year. Over the period under review, the import price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2017 an increase of 33% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+13.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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