India: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in India

The Indian evaporated and condensed milk market soared to $X in 2022, jumping by 25% against the previous year. Overall, consumption showed prominent growth. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Evaporated And Condensed Milk in India

In value terms, evaporated and condensed milk production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2020 with an increase of 175%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Evaporated And Condensed Milk

Exports from India

In 2022, shipments abroad of evaporated and condensed milk decreased by -56.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2014 with an increase of 267%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk exports declined markedly to $X in 2022. Overall, exports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 296%. 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) was the main destination for evaporated and condensed milk exports from India, accounting for a 36% share of total exports. Moreover, evaporated and condensed milk exports to the United Arab Emirates exceeded the volume sent to the second major destination, Nepal (X tons), threefold. The third position in this ranking was taken by Saint Vincent and the Grenadines (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at +43.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+33.0% per year) and Saint Vincent and the Grenadines (0.0% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for evaporated and condensed milk exports from India, comprising 52% of total exports. The second position in the ranking was held by Nepal ($X), with a 10% share of total exports. It was followed by the United States, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates totaled +52.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+28.6% per year) and the United States (+10.0% per year).

Export Prices by Country

In 2022, the average evaporated and condensed milk export price amounted to $X per ton, growing by 83% against the previous year. Over the period under review, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Evaporated And Condensed Milk

Imports into India

In 2022, overseas purchases of evaporated and condensed milk decreased by -36.3% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 945% against the previous year. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk imports declined sharply to $X in 2022. In general, imports, however, showed resilient growth. The growth pace was the most rapid in 2019 with an increase of 769% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Saudi Arabia (X tons), Denmark (X tons) and Germany (X tons) were the main suppliers of evaporated and condensed milk imports to India, together accounting for 72% 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 ($X) constituted the largest supplier of evaporated and condensed milk to India, comprising 59% of total imports. The second position in the ranking was held by Australia ($X), with a 13% share of total imports. It was followed by Denmark, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Saudi Arabia totaled +30.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+0.6% per year) and Denmark (-2.3% per year).

Import Prices by Country

In 2022, the average evaporated and condensed milk import price amounted to $X per ton, declining by -28.2% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 53%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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