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

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

The Greek market for condensed or evaporated milk (sweetened) surged to $X in 2022, increasing by 96% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a resilient increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Greece

In 2022, overseas shipments of condensed or evaporated milk (sweetened) decreased by -9.6% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, saw a strong expansion. The growth pace was the most rapid in 2016 with an increase of 110%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, sweetened condensed and evaporated milk exports fell to $X in 2022. Over the period under review, exports, however, showed a noticeable increase. The most prominent rate of growth was recorded in 2016 with an increase of 262% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Cyprus (X tons) was the main destination for sweetened condensed and evaporated milk exports from Greece, with a 89% share of total exports. Moreover, sweetened condensed and evaporated milk exports to Cyprus exceeded the volume sent to the second major destination, Serbia (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Cyprus amounted to +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+41.6% per year) and Bulgaria (+30.0% per year).

In value terms, Cyprus ($X) remains the key foreign market for condensed or evaporated milk (sweetened) exports from Greece, comprising 90% of total exports. The second position in the ranking was held by Serbia ($X), with a 5.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Cyprus amounted to +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+30.4% per year) and Bulgaria (+30.9% per year).

Export Prices by Country

The average export price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the export price showed a perceptible decline. The most prominent rate of growth was recorded in 2016 when the average export price increased by 72%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Bulgaria ($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 Belgium (+12.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Greece

In 2022, the amount of condensed or evaporated milk (sweetened) imported into Greece surged to X tons, picking up by 82% against 2021 figures. In general, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +9.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sweetened condensed and evaporated milk imports surged to $X in 2022. Overall, imports posted prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of sweetened condensed and evaporated milk to Greece, accounting for a 46% share of total imports. Moreover, sweetened condensed and evaporated milk imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+3.9% per year) and Italy (+63.4% per year).

In value terms, Germany ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to Greece, comprising 50% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 19% share of total imports. It was followed by Italy, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+4.2% per year) and Italy (+40.1% per year).

Import Prices by Country

In 2022, the average import price for condensed or evaporated milk (sweetened) amounted to $X per ton, increasing by 7.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2018 when the average import price increased by 39% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 Belgium ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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