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

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

The Indian market for condensed or evaporated milk (unsweetened) fell significantly to $X in 2021, declining by -15.9% against the previous year. In general, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +18.7% against 2019 indices. As a result, consumption attained the peak level of $X, and then reduced markedly in the following year.

Production of Condensed Or Evaporated Milk (Unsweetened) in India

In value terms, unsweetened condensed and evaporated milk production declined sharply to $X in 2021 estimated in export price. Overall, production, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2020 when the production volume increased by 126% against the previous year. As a result, production attained the peak level of $X, and then shrank remarkably in the following year.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from India

In 2021, approx. X tons of condensed or evaporated milk (unsweetened) were exported from India; falling by -48.5% against 2020. In general, exports, however, enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 2,735%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, unsweetened condensed and evaporated milk exports declined dramatically to $X in 2021. Over the period under review, exports, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 3,691%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Afghanistan (X tons) was the main destination for unsweetened condensed and evaporated milk exports from India, with a 84% share of total exports. Moreover, unsweetened condensed and evaporated milk exports to Afghanistan exceeded the volume sent to the second major destination, Oman (X tons), sixfold. The third position in this ranking was held by Bhutan (X kg), with a 0.1% share.

From 2012 to 2021, the average annual growth rate of volume to Afghanistan totaled +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+66.3% per year) and Bhutan (-32.1% per year).

In value terms, Afghanistan ($X) remains the key foreign market for condensed or evaporated milk (unsweetened) exports from India, comprising 65% of total exports. The second position in the ranking was held by Oman ($X), with a 25% share of total exports. It was followed by Bhutan, with a 0.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Afghanistan totaled +20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+60.4% per year) and Bhutan (-22.3% per year).

Export Prices by Country

The average export price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, jumping by 42% against the previous year. In general, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unsweetened condensed and evaporated milk export price increased by +89.5% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 85%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+25.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into India

In 2021, approx. X tons of condensed or evaporated milk (unsweetened) were imported into India; dropping by -38.4% compared with 2020. Overall, imports showed a drastic downturn. The growth pace was the most rapid in 2019 when imports increased by 1,373% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, unsweetened condensed and evaporated milk imports dropped remarkably to $X in 2021. In general, imports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when imports increased by 1,376%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest supplier of unsweetened condensed and evaporated milk to India, with a 88% share of total imports. Moreover, unsweetened condensed and evaporated milk imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X kg), more than tenfold. The UK (X kg) ranked third in terms of total imports with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+7.4% per year) and the UK (-30.4% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of condensed or evaporated milk (unsweetened) to India, comprising 89% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 3.6% share of total imports. It was followed by the United States, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Saudi Arabia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-2.6% per year) and the United States (-36.6% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, picking up by 37% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 44%. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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