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

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

The Estonian market for condensed or evaporated milk (sweetened) rose remarkably to $X in 2022, picking up by 7.3% against the previous year. Over the period under review, consumption continues to indicate a remarkable increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Production of Condensed Or Evaporated Milk (Sweetened) in Estonia

In value terms, sweetened condensed and evaporated milk production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the production volume increased by 22%. Over the period under review, production hit record highs in 2022 and is likely to see steady growth in the immediate term.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Estonia

In 2022, overseas shipments of condensed or evaporated milk (sweetened) decreased by -27.4% to X tons, falling for the second consecutive year after four years of growth. Overall, exports showed a significant contraction. The pace of growth was the most pronounced in 2020 with an increase of 70% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk exports declined rapidly to $X in 2022. Over the period under review, exports showed a dramatic setback. The growth pace was the most rapid in 2017 with an increase of 62% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Latvia (X tons), Lithuania (X tons) and Finland (X tons) were the main destinations of sweetened condensed and evaporated milk exports from Estonia, with a combined 99.9% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Finland (with a CAGR of -5.8%), while the other leaders experienced a decline.

In value terms, Latvia ($X), Lithuania ($X) and Finland ($X) constituted the largest markets for sweetened condensed and evaporated milk exported from Estonia worldwide, together accounting for 99.9% of total exports.

Finland, with a CAGR of -2.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average export price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, waning by -9.3% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 23%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Estonia

For the fourth year in a row, Estonia recorded growth in purchases abroad of condensed or evaporated milk (sweetened), which increased by 1.9% to X tons in 2022. Overall, imports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 26% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, sweetened condensed and evaporated milk imports rose sharply to $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.3% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 29%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Latvia (X tons), the Netherlands (X tons) and Lithuania (X tons) were the main suppliers of sweetened condensed and evaporated milk imports to Estonia, with a combined 94% share of total imports. Ukraine and Germany lagged somewhat behind, together comprising a further 3.7%.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +230.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sweetened condensed and evaporated milk suppliers to Estonia were Latvia ($X), the Netherlands ($X) and Lithuania ($X), with a combined 90% share of total imports. Ukraine and Germany lagged somewhat behind, together comprising a further 4.6%.

Ukraine, with a CAGR of +297.0%, saw 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

The average import price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, growing by 9.1% against the previous year. Over the period under review, the import price, however, saw a perceptible decline. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, 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 Germany ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+20.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform