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

Market Size for Condensed Or Evaporated Milk (Sweetened) in the EU

In 2022, the EU market for condensed or evaporated milk (sweetened) was finally on the rise to reach $X after two years of decline. In general, consumption continues to indicate strong growth. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Production of Condensed Or Evaporated Milk (Sweetened) in the EU

In value terms, sweetened condensed and evaporated milk production soared to $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +92.6% against 2015 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 20% against the previous year. The level of production peaked in 2022 and is likely to continue growth in the near future.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports in the EU

In 2022, after three years of growth, there was decline in overseas shipments of condensed or evaporated milk (sweetened), when their volume decreased by -2.5% to X tons. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.3% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of 19% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, sweetened condensed and evaporated milk exports rose significantly to $X in 2022. Total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.6% against 2016 indices. The growth pace was the most rapid in 2013 with an increase of 37% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Belgium (X tons) and the Netherlands (X tons) represented roughly 61% of total exports in 2022. Germany (X tons) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Spain (12%). Lithuania (X tons), France (X tons) and Austria (X tons) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +20.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest sweetened condensed and evaporated milk supplying countries in the European Union were Belgium ($X), the Netherlands ($X) and Germany ($X), together comprising 76% of total exports.

In terms of the main exporting countries, Belgium, with a CAGR of +12.4%, 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 more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, surging by 13% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 15%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while Austria ($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 (+2.3%), while the other leaders experienced mixed trends in the export price figures.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports in the EU

In 2022, purchases abroad of condensed or evaporated milk (sweetened) increased by 13% to X tons, rising for the second year in a row after two years of decline. Total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.4% 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 +19.3% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 36% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk imports soared to $X in 2022. The total import value increased at an average annual rate of +3.1% over the period 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 2013 when imports increased by 22% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

The purchases of the three major importers of condensed or evaporated milk (sweetened), namely the Netherlands, France and Germany, represented more than half of total import. Spain (X tons) ranks next in terms of the total imports with an 8.9% share, followed by Belgium (5.5%), Greece (4.9%) and Portugal (4.5%). The following importers - Poland (X tons), Italy (X tons), Denmark (X tons), Ireland (X tons), Lithuania (X tons) and Hungary (X tons) - together made up 16% of total imports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +26.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Netherlands ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 52% of total imports. Spain, Poland, Belgium, Italy, Greece, Portugal, Denmark, Hungary, Lithuania and Ireland lagged somewhat behind, together accounting for a further 39%.

In terms of the main importing countries, Denmark, with a CAGR of +23.9%, saw 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 import price in the European Union stood at $X per ton in 2022, increasing by 5.5% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 8.4% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Poland ($X per ton), while Ireland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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