Estonia: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Estonia

For the fourth consecutive year, the Estonian evaporated and condensed milk market recorded growth in sales value, which increased by 1.6% to $X in 2022. In general, consumption posted a mild expansion. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Evaporated And Condensed Milk in Estonia

In value terms, evaporated and condensed milk production stood at $X in 2022 estimated in export price. Over the period under review, production, however, showed a slight descent. The most prominent rate of growth was recorded in 2016 with an increase of 173%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Evaporated And Condensed Milk

Exports from Estonia

In 2022, shipments abroad of evaporated and condensed milk increased by 32% to X tons, rising for the fifth consecutive year after two years of decline. In general, exports, however, recorded a deep reduction. The pace of growth appeared the most rapid in 2014 when exports increased by 891%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk exports skyrocketed to $X in 2022. Overall, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of 582%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Latvia (X tons), Lithuania (X tons) and Finland (X tons) were the main destinations of evaporated and condensed milk exports from Estonia, together comprising 99.9% of total exports.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +2.9%), while shipments for the other leaders experienced a decline.

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

In terms of the main countries of destination, Finland, with a CAGR of +7.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average evaporated and condensed milk export price amounted to $X per ton, falling by -4.1% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 67% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Lithuania ($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 Finland (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Evaporated And Condensed Milk

Imports into Estonia

In 2022, overseas purchases of evaporated and condensed milk increased by 5.9% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 739% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, evaporated and condensed milk imports amounted to $X in 2022. In general, imports posted a resilient increase. The pace of growth was the most pronounced in 2014 when imports increased by 334%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Latvia (X tons), the Netherlands (X tons) and Lithuania (X tons) were the main suppliers of evaporated and condensed milk imports to Estonia, together comprising 89% of total imports. Germany, Ukraine, Finland and Poland lagged somewhat behind, together accounting for a further 9.5%.

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 evaporated and condensed milk suppliers to Estonia were Latvia ($X), the Netherlands ($X) and Lithuania ($X), with a combined 85% share of total imports. Germany, Finland, Ukraine and Poland lagged somewhat behind, together comprising a further 12%.

Ukraine, with a CAGR of +297.0%, saw the highest growth rate of the value of imports, in terms of 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 evaporated and condensed milk import price stood at $X per ton in 2022, growing by 8.1% against the previous year. Overall, the import price, however, continues to indicate a noticeable reduction. The pace of growth was the most pronounced in 2016 when the average import price increased by 50%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Finland ($X per ton), while the price for Latvia ($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