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

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

The Indian market for condensed or evaporated milk (sweetened) surged to $X in 2022, growing by 63% against the previous year. Over the period under review, consumption showed resilient growth. Sweetened condensed and evaporated milk consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Condensed Or Evaporated Milk (Sweetened) in India

In value terms, sweetened condensed and evaporated milk production skyrocketed to $X in 2022 estimated in export price. In general, production showed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 180% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from India

After two years of growth, overseas shipments of condensed or evaporated milk (sweetened) decreased by -63% to X tons in 2022. In general, exports, however, enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 296% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, sweetened condensed and evaporated milk exports declined remarkably to $X in 2022. Over the period under review, exports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2016 with an increase of 329%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons), Saint Vincent and the Grenadines (X tons) and Nepal (X tons) were the main destinations of sweetened condensed and evaporated milk exports from India, with a combined 55% share of total exports. The United States, Singapore, New Zealand, Qatar and Nigeria lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by New Zealand (with a CAGR of +44.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Nepal ($X) and Saint Vincent and the Grenadines ($X) appeared to be the largest markets for sweetened condensed and evaporated milk exported from India worldwide, together accounting for 58% of total exports. The United States, Singapore, Qatar, New Zealand and Nigeria lagged somewhat behind, together accounting for a further 30%.

Among the main countries of destination, Qatar, with a CAGR of +54.3%, 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

In 2022, the average export price for condensed or evaporated milk (sweetened) amounted to $X per ton, picking up by 32% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $X per ton in 2017; however, from 2018 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 Qatar ($X per ton), while the average price for exports to Singapore ($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 Qatar (+12.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into India

In 2022, the amount of condensed or evaporated milk (sweetened) imported into India soared to X tons, picking up by 55% on 2021. Overall, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 782% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk imports surged to $X in 2022. In general, imports posted a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 581% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons), Denmark (X tons) and Germany (X tons) were the main suppliers of sweetened condensed and evaporated milk imports to India, with a combined 73% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +26.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to India, comprising 67% of total imports. The second position in the ranking was held by Denmark ($X), with a 9% share of total imports. It was followed by Germany, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from Saudi Arabia amounted to +30.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-2.3% per year) and Germany (+10.1% per year).

Import Prices by Country

In 2022, the average import price for condensed or evaporated milk (sweetened) amounted to $X per ton, shrinking by -9.4% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 36%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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