China: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in China

In 2022, the Chinese evaporated and condensed milk market decreased by -3.4% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Evaporated And Condensed Milk in China

In value terms, evaporated and condensed milk production rose rapidly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2020 with an increase of 34% against the previous year. Evaporated and condensed milk production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Evaporated And Condensed Milk

Exports from China

After two years of decline, shipments abroad of evaporated and condensed milk increased by 48% to X tons in 2022. Overall, exports, however, showed a noticeable decline. The pace of growth appeared the most rapid in 2016 when exports increased by 67% against the previous year. The exports peaked 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 skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a pronounced decrease. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) and Canada (X tons) were the main destinations of evaporated and condensed milk exports from China.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +34.9%).

In value terms, the largest markets for evaporated and condensed milk exported from China were Canada ($X) and the United States ($X).

The United States, with a CAGR of +31.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average evaporated and condensed milk export price stood at $X per ton in 2022, falling by -7.1% against the previous year. Overall, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, evaporated and condensed milk export price increased by +36.7% against 2019 indices. The pace of growth was the most pronounced in 2020 when the average export price increased by 25% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Evaporated And Condensed Milk

Imports into China

Evaporated and condensed milk imports into China fell notably to X tons in 2022, reducing by -30.7% on the previous year's figure. In general, imports, however, posted resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 104%. Imports peaked at X tons in 2021, and then dropped remarkably in the following year.

In value terms, evaporated and condensed milk imports shrank rapidly to $X in 2022. Overall, imports, however, showed a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 74% against the previous year. As a result, imports attained the peak of $X, and then reduced remarkably in the following year.

Imports by Country

Australia (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of evaporated and condensed milk imports to China, with a combined 89% share of total imports. Belgium, Thailand and Malaysia lagged somewhat behind, together accounting for a further 9%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +161.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), the Netherlands ($X) and Belgium ($X) constituted the largest evaporated and condensed milk suppliers to China, together accounting for 84% of total imports. Germany, Thailand and Malaysia lagged somewhat behind, together comprising a further 13%.

In terms of the main suppliers, Malaysia, with a CAGR of +140.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average evaporated and condensed milk import price stood at $X per ton in 2022, waning by -2.1% against the previous year. Over the period under review, the import price continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 19%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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