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

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

For the seventh consecutive year, the Indonesian market for condensed or evaporated milk (sweetened) recorded growth in sales value, which increased by 8.3% to $X in 2022. In general, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +132.4% against 2013 indices. Sweetened condensed and evaporated milk consumption peaked in 2022 and is likely to see steady growth in the near future.

Production of Condensed Or Evaporated Milk (Sweetened) in Indonesia

In value terms, sweetened condensed and evaporated milk production fell to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a noticeable decline. The pace of growth appeared the most rapid in 2018 when the production volume increased by 30%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Indonesia

In 2022, approx. X tons of condensed or evaporated milk (sweetened) were exported from Indonesia; dropping by -8.4% against the year before. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 31% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, sweetened condensed and evaporated milk exports rose slightly to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by 44% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The Philippines (X tons), Vietnam (X tons) and Singapore (X tons) were the main destinations of sweetened condensed and evaporated milk exports from Indonesia, with a combined 96% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +162.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sweetened condensed and evaporated milk exported from Indonesia were the Philippines ($X), Vietnam ($X) and Singapore ($X), together accounting for 92% of total exports.

Among the main countries of destination, the Philippines, with a CAGR of +153.2%, recorded the highest rates of growth with regard to 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, growing by 14% against the previous year. Over the period under review, the export price, however, continues to indicate a mild setback. The most prominent rate of growth was recorded in 2018 an increase of 26% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Singapore ($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 Vietnam (-0.8%), while the prices for the other major destinations experienced a decline.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Indonesia

For the fifth consecutive year, Indonesia recorded growth in purchases abroad of condensed or evaporated milk (sweetened), which increased by 1.9% to X tons in 2022. Over the period under review, imports saw a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of 86% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, sweetened condensed and evaporated milk imports rose notably to $X in 2022. In general, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 83%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of sweetened condensed and evaporated milk to Indonesia, with a 84% share of total imports. Moreover, sweetened condensed and evaporated milk imports from Malaysia exceeded the figures recorded by the second-largest supplier, the UK (X tons), sevenfold.

From 2012 to 2022, the average annual growth rate of volume from Malaysia stood at +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+10.2% per year) and France (+13.5% per year).

In value terms, Malaysia ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to Indonesia, comprising 68% of total imports. The second position in the ranking was taken by the UK ($X), with a 21% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia totaled +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+10.9% per year) and France (+21.0% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, picking up by 11% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 25% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 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 France ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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