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

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

After two years of growth, the Italian market for condensed or evaporated milk (unsweetened) decreased by -11.3% to $X in 2021. Over the period under review, consumption saw a significant increase. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Production of Condensed Or Evaporated Milk (Unsweetened) in Italy

In value terms, unsweetened condensed and evaporated milk production reduced to $X in 2021 estimated in export price. In general, production, however, continues to indicate significant growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 1,268% against the previous year. Unsweetened condensed and evaporated milk production peaked at $X in 2020, and then shrank in the following year.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Italy

Unsweetened condensed and evaporated milk exports from Italy skyrocketed to X tons in 2021, picking up by 351% on the previous year's figure. Over the period under review, exports, however, showed a abrupt shrinkage. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, unsweetened condensed and evaporated milk exports surged to $X in 2021. Overall, exports recorded a notable expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for unsweetened condensed and evaporated milk exports from Italy, accounting for a 57% share of total exports. Moreover, unsweetened condensed and evaporated milk exports to China exceeded the volume sent to the second major destination, Hungary (X tons), fivefold. South Korea (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +58.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+36.6% per year) and South Korea (+45.0% per year).

In value terms, China ($X) emerged as the key foreign market for condensed or evaporated milk (unsweetened) exports from Italy, comprising 69% of total exports. The second position in the ranking was taken by France ($X), with a 5.1% share of total exports. It was followed by Hungary, with a 5% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to +81.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-13.0% per year) and Hungary (+39.2% per year).

Export Prices by Country

In 2021, the average export price for condensed or evaporated milk (unsweetened) amounted to $X per ton, shrinking by -30% against the previous year. Over the period under review, the export price, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2019 an increase of 206%. The export price peaked at $X per ton in 2020, and then contracted notably in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to South Korea ($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 Poland (+27.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Italy

In 2021, the amount of condensed or evaporated milk (unsweetened) imported into Italy soared to X tons, jumping by 19% against the previous year's figure. Overall, imports saw strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 62% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, unsweetened condensed and evaporated milk imports shrank to $X in 2021. In general, imports saw prominent growth. The pace of growth was the most pronounced in 2016 when imports increased by 123% against the previous year. Imports peaked at $X in 2020, and then contracted in the following year.

Imports by Country

In 2021, Germany (X tons) constituted the largest unsweetened condensed and evaporated milk supplier to Italy, accounting for a 64% share of total imports. Moreover, unsweetened condensed and evaporated milk imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. Austria (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+12.6% per year) and Austria (+123.2% per year).

In value terms, Germany ($X) constituted the largest supplier of condensed or evaporated milk (unsweetened) to Italy, comprising 54% of total imports. The second position in the ranking was held by Austria ($X), with a 17% share of total imports. It was followed by the Netherlands, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+110.1% per year) and the Netherlands (+12.4% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, waning by -24.9% against the previous year. Overall, the import price recorded a mild descent. The growth pace was the most rapid in 2016 an increase of 44%. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 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 Netherlands ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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