Greece: Market for Evaporated And Condensed Milk 2025

Market Size for Evaporated And Condensed Milk in Greece

In 2022, the Greek evaporated and condensed milk market increased by 17% to $X, rising for the fourth year in a row after four years of decline. In general, the total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +74.8% against 2018 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Evaporated And Condensed Milk in Greece

In value terms, evaporated and condensed milk production fell markedly to $X in 2022 estimated in export price. Over the period under review, production showed a sharp downturn. The pace of growth appeared the most rapid in 2021 with an increase of 282%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Evaporated And Condensed Milk

Exports from Greece

For the third consecutive year, Greece recorded growth in overseas shipments of evaporated and condensed milk, which increased by 45% to X tons in 2022. Overall, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by 111%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk exports soared to $X in 2022. Over the period under review, exports posted moderate growth. The pace of growth appeared the most rapid in 2018 when exports increased by 48%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Romania (X tons), Cyprus (X tons) and Bulgaria (X tons) were the main destinations of evaporated and condensed milk exports from Greece, together comprising 96% 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 Romania (with a CAGR of +16.4%), while the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X), Romania ($X) and Bulgaria ($X) were the largest markets for evaporated and condensed milk exported from Greece worldwide, with a combined 95% share of total exports.

Romania, with a CAGR of +18.8%, 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 mixed trend patterns.

Export Prices by Country

In 2022, the average evaporated and condensed milk export price amounted to $X per ton, declining by -14.9% against the previous year. In general, the export price recorded a perceptible slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 50%. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 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 Cyprus ($X per ton), while the average price for exports to Romania ($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 Libya (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Evaporated And Condensed Milk

Imports into Greece

For the fourth year in a row, Greece recorded growth in overseas purchases of evaporated and condensed milk, which increased by 1.3% to X tons in 2022. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 22%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, evaporated and condensed milk imports skyrocketed to $X in 2022. Overall, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.9% 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 +90.9% against 2018 indices. 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 evaporated and condensed milk to Greece, with a 51% share of total imports. Moreover, evaporated and condensed milk imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. Belgium (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-1.3% per year) and Belgium (+11.2% per year).

In value terms, the largest evaporated and condensed milk suppliers to Greece were Germany ($X), the Netherlands ($X) and Belgium ($X), with a combined 87% share of total imports. France, Romania and Poland lagged somewhat behind, together accounting for a further 9%.

Among the main suppliers, France, with a CAGR of +10.5%, 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

In 2022, the average evaporated and condensed milk import price amounted to $X per ton, increasing by 24% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and Romania ($X per ton), while the price for France ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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