Indonesia: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Indonesia

The Indonesian evaporated and condensed milk market rose markedly to $X in 2022, surging by 6.9% against the previous year. Over the period under review, consumption showed notable growth. Evaporated and condensed milk consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Evaporated And Condensed Milk in Indonesia

In value terms, evaporated and condensed milk production dropped to $X in 2022 estimated in export price. In general, production, however, showed a perceptible downturn. The growth pace was the most rapid in 2018 when the production volume increased by 31% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Evaporated And Condensed Milk

Exports from Indonesia

In 2022, the amount of evaporated and condensed milk exported from Indonesia declined to X tons, which is down by -8.3% against 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 31% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, evaporated and condensed milk exports stood at $X in 2022. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 45%. Over the period under review, the exports reached the peak figure 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 evaporated and condensed milk exports from Indonesia, together accounting for 93% of total exports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +87.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for evaporated and condensed milk exported from Indonesia were the Philippines ($X), Vietnam ($X) and Singapore ($X), with a combined 88% share of total exports.

The Philippines, with a CAGR of +82.5%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average evaporated and condensed milk export price stood at $X per ton in 2022, picking up by 14% against the previous year. Over the period under review, the export price, however, showed a mild downturn. The pace of growth was the most pronounced in 2018 an increase of 27%. 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.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Singapore ($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 Nigeria (+17.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Evaporated And Condensed Milk

Imports into Indonesia

For the fifth year in a row, Indonesia recorded growth in purchases abroad of evaporated and condensed milk, which increased by 0.8% to X tons in 2022. Over the period under review, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 82% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, evaporated and condensed milk imports expanded rapidly to $X in 2022. Overall, imports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of 76% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of evaporated and condensed milk to Indonesia, with a 82% share of total imports. Moreover, evaporated and condensed milk imports from Malaysia exceeded the figures recorded by the second-largest supplier, the UK (X tons), sevenfold. The third position in this ranking was taken by France (X tons), with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia stood at +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+10.2% per year) and France (+161.6% per year).

In value terms, Malaysia ($X) constituted the largest supplier of evaporated and condensed milk to Indonesia, comprising 65% of total imports. The second position in the ranking was held by the UK ($X), with a 20% share of total imports. It was followed by France, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia amounted to +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+10.9% per year) and France (+178.1% per year).

Import Prices by Country

The average evaporated and condensed milk import price stood at $X per ton in 2022, surging by 9% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 26%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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