Latin America and the Caribbean: Market for Powdered, Condensed Or Evaporated Milk 2024

Market Size for Powdered, Condensed Or Evaporated Milk in Latin America and the Caribbean

The Latin American market for powdered, condensed or evaporated milk expanded rapidly to $X in 2022, with an increase of X% against the previous year. Overall, consumption, however, saw a slight reduction. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Powdered, Condensed Or Evaporated Milk in Latin America and the Caribbean

In value terms, powdered, condensed or evaporated milk production rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a perceptible downturn. The growth pace was the most rapid in 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

The countries with the highest volumes of production in 2022 were Brazil (X tons), Peru (X tons) and Mexico (X tons), together comprising X% of total production. Argentina, Uruguay, Chile and Colombia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Uruguay (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

Exports of Powdered, Condensed Or Evaporated Milk

Exports in Latin America and the Caribbean

In 2022, approx. X tons of powdered, condensed or evaporated milk were exported in Latin America and the Caribbean; picking up by X% compared with 2021 figures. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, powdered, condensed or evaporated milk exports soared to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Argentina (X tons) and Uruguay (X tons) prevails in exports structure, together generating X% of total exports. Chile (X tons) ranks next in terms of the total exports with an X% share, followed by Mexico (X%). The following exporters - Peru (X tons), Brazil (X tons), Paraguay (X tons) and Costa Rica (X tons) - together made up X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Paraguay (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest powdered, condensed or evaporated milk supplying countries in Latin America and the Caribbean were Argentina ($X), Uruguay ($X) and Chile ($X), with a combined X% share of total exports. Mexico, Costa Rica, Brazil, Paraguay and Peru lagged somewhat behind, together comprising a further X%.

Paraguay, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered, condensed or evaporated milk export price increased by X% against 2016 indices. The growth pace was the most rapid in 2013 when the export price increased by X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced more modest paces of growth.

Imports of Powdered, Condensed Or Evaporated Milk

Imports in Latin America and the Caribbean

In 2022, imports of powdered, condensed or evaporated milk in Latin America and the Caribbean skyrocketed to X tons, surging by X% on the previous year's figure. In general, imports, however, showed a slight curtailment. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, powdered, condensed or evaporated milk imports skyrocketed to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Mexico (X tons) represented the key importer of powdered, condensed or evaporated milk, committing X% of total imports. It was distantly followed by Brazil (X tons), Peru (X tons), Colombia (X tons), Cuba (X tons), the Dominican Republic (X tons) and Venezuela (X tons), together making up a X% share of total imports. Guatemala (X tons), Chile (X tons), Trinidad and Tobago (X tons) and El Salvador (X tons) followed a long way behind the leaders.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of powdered, condensed or evaporated milk. At the same time, Colombia (X%), El Salvador (X%), Guatemala (X%), the Dominican Republic (X%), Trinidad and Tobago (X%) and Peru (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Cuba, Brazil and Chile experienced a relatively flat trend pattern. By contrast, Venezuela (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico, Colombia, Brazil, Peru and the Dominican Republic increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported powdered, condensed or evaporated milk in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports. It was followed by Peru, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to X%. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Peru (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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