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

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

In 2022, after two years of growth, there was significant decline in the Finnish market for condensed or evaporated milk (sweetened), when its value decreased by -17.4% to $X. Over the period under review, consumption, however, saw a resilient increase. Over the period under review, the market reached the maximum level at $X in 2021, and then shrank remarkably in the following year.

Production of Condensed Or Evaporated Milk (Sweetened) in Finland

In value terms, sweetened condensed and evaporated milk production fell slightly to $X in 2022 estimated in export price. In general, production faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when the production volume increased by 7.2% against the previous year. Sweetened condensed and evaporated milk production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Finland

In 2022, approx. X tons of condensed or evaporated milk (sweetened) were exported from Finland; increasing by 158% against the year before. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 2,300%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, sweetened condensed and evaporated milk exports surged to $X in 2022. Over the period under review, exports enjoyed significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 20,544%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

Estonia (X kg), Russia (X kg) and the UK (X kg) were the main destinations of sweetened condensed and evaporated milk exports from Finland, with a combined 100% 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 Russia (with a CAGR of +1,914.9%), while the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), Russia ($X) and the UK ($X) appeared to be the largest markets for sweetened condensed and evaporated milk exported from Finland worldwide, with a combined 100% share of total exports.

In terms of the main countries of destination, Russia, with a CAGR of +2,340.1%, saw the highest growth rate of 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 average export price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, picking up by 72% against the previous year. Overall, the export price, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2017 when the average export price increased by 4,981%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to the UK ($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 Russia (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Finland

After two years of growth, purchases abroad of condensed or evaporated milk (sweetened) decreased by -28.4% to X tons in 2022. In general, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by 54%. Over the period under review, imports reached the maximum at X tons in 2021, and then declined rapidly in the following year.

In value terms, sweetened condensed and evaporated milk imports shrank to $X in 2022. Overall, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 34%. Over the period under review, imports reached the maximum at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest sweetened condensed and evaporated milk supplier to Finland, with a 52% share of total imports. Moreover, sweetened condensed and evaporated milk imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Lithuania (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands amounted to +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.3% per year) and Lithuania (-0.6% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to Finland, comprising 55% of total imports. The second position in the ranking was taken by Belgium ($X), with an 11% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands amounted to +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+38.5% per year) and Germany (-1.3% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, surging by 22% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 France ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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