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

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

In 2022, the Italian market for condensed or evaporated milk (sweetened) increased by 24% to $X, rising for the fifth year in a row after two years of decline. Over the period under review, consumption recorded a prominent expansion. Sweetened condensed and evaporated milk consumption peaked in 2022 and is likely to see steady growth in years to come.

Production of Condensed Or Evaporated Milk (Sweetened) in Italy

In value terms, sweetened condensed and evaporated milk production soared to $X in 2022 estimated in export price. Over the period under review, production enjoyed significant growth. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Italy

In 2022, approx. X tons of condensed or evaporated milk (sweetened) were exported from Italy; reducing by -27.8% on the previous year. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 167% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, sweetened condensed and evaporated milk exports declined to $X in 2022. Overall, exports continue to indicate a pronounced setback. The growth pace was the most rapid in 2017 with an increase of 80%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Qatar (X tons) was the main destination for sweetened condensed and evaporated milk exports from Italy, accounting for a 41% share of total exports. Moreover, sweetened condensed and evaporated milk exports to Qatar exceeded the volume sent to the second major destination, Belgium (X tons), sixfold. Switzerland (X tons) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+17.1% per year) and Switzerland (+29.6% per year).

In value terms, Qatar ($X) emerged as the key foreign market for condensed or evaporated milk (sweetened) exports from Italy, comprising 35% of total exports. The second position in the ranking was taken by Lebanon ($X), with a 10% share of total exports. It was followed by Switzerland, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value to Qatar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (+17.9% per year) and Switzerland (+29.5% per year).

Export Prices by Country

In 2022, the average export price for condensed or evaporated milk (sweetened) amounted to $X per ton, picking up by 18% against the previous year. Over the period under review, the export price, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2019 an increase of 75%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to the Philippines ($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 the Philippines (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Italy

In 2022, overseas purchases of condensed or evaporated milk (sweetened) increased by 10% to X tons, rising for the third year in a row after four years of decline. Overall, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.5% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 33% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, sweetened condensed and evaporated milk imports surged to $X in 2022. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.1% against 2017 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 41%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), Belgium (X tons) and Spain (X tons) were the main suppliers of sweetened condensed and evaporated milk imports to Italy, together accounting for 88% of total imports. Slovakia, France, the Netherlands and Slovenia lagged somewhat behind, together comprising a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of +70.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sweetened condensed and evaporated milk suppliers to Italy were Belgium ($X), Germany ($X) and Spain ($X), together accounting for 86% of total imports. France, Slovakia, the Netherlands and Slovenia lagged somewhat behind, together comprising a further 12%.

Slovenia, with a CAGR of +69.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for condensed or evaporated milk (sweetened) amounted to $X per ton, rising by 7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2021 an increase of 15% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :