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

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

In 2022, the Lithuanian market for condensed or evaporated milk (sweetened) increased by 43% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, showed a abrupt descent. Sweetened condensed and evaporated milk consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Condensed Or Evaporated Milk (Sweetened) in Lithuania

In value terms, sweetened condensed and evaporated milk production surged to $X in 2022 estimated in export price. In general, the total production indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +112.0% against 2017 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 55%. Sweetened condensed and evaporated milk production peaked in 2022 and is expected to retain growth in the immediate term.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Lithuania

In 2022, shipments abroad of condensed or evaporated milk (sweetened) decreased by -10.2% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports, however, saw a slight expansion. The pace of growth was the most pronounced in 2020 when exports increased by 86% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, sweetened condensed and evaporated milk exports rose to $X in 2022. Overall, exports, however, recorded a slight increase. The pace of growth was the most pronounced in 2020 with an increase of 90% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for sweetened condensed and evaporated milk exports from Lithuania, accounting for a 31% share of total exports. Moreover, sweetened condensed and evaporated milk exports to Australia exceeded the volume sent to the second major destination, Spain (X tons), twofold. South Africa (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Australia totaled +414.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-14.1% per year) and South Africa (+173.7% per year).

In value terms, Australia ($X) remains the key foreign market for condensed or evaporated milk (sweetened) exports from Lithuania, comprising 29% of total exports. The second position in the ranking was held by Spain ($X), with a 12% share of total exports. It was followed by Latvia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Australia totaled +425.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-14.2% per year) and Latvia (+2.7% 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 17% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Estonia ($X per ton) and Germany ($X per ton), while the average price for exports to South Africa ($X per ton) and Portugal ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Lithuania

In 2022, supplies from abroad of condensed or evaporated milk (sweetened) decreased by -18.3% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, saw strong growth. The growth pace was the most rapid in 2017 when imports increased by 29%. Over the period under review, imports attained the peak figure at X tons in 2021, and then reduced dramatically in the following year.

In value terms, sweetened condensed and evaporated milk imports expanded markedly to $X in 2022. Overall, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.8% 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 +104.1% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 32% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Latvia (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of sweetened condensed and evaporated milk imports to Lithuania, together comprising 67% of total imports. Estonia, Belgium, Poland and Slovakia lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +125.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Latvia ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to Lithuania, comprising 39% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 17% share of total imports. It was followed by Germany, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Latvia stood at +27.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+5.7% per year) and Germany (-5.1% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, jumping by 29% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Latvia ($X per ton), while the price for Belgium ($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 Czech Republic (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform