Lithuania: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Lithuania

In 2022, the Lithuanian evaporated and condensed milk market increased by 1,866% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, saw a relatively flat trend pattern. Evaporated and condensed milk consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Evaporated And Condensed Milk in Lithuania

In value terms, evaporated and condensed milk production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt decline. The pace of growth was the most pronounced in 2014 with an increase of 132% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Exports of Evaporated And Condensed Milk

Exports from Lithuania

In 2022, overseas shipments of evaporated and condensed milk decreased by -56.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 92%. The exports peaked at X tons in 2021, and then dropped significantly in the following year.

In value terms, evaporated and condensed milk exports reduced rapidly to $X in 2022. Over the period under review, exports, however, saw modest growth. The pace of growth appeared the most rapid in 2017 when exports increased by 101%. The exports peaked at $X in 2021, and then reduced remarkably in the following year.

Exports by Country

Australia (X tons), Poland (X tons) and Spain (X tons) were the main destinations of evaporated and condensed milk exports from Lithuania, together accounting for 55% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +393.3%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Poland ($X) and Latvia ($X) appeared to be the largest markets for evaporated and condensed milk exported from Lithuania worldwide, with a combined 49% share of total exports.

Australia, with a CAGR of +403.6%, 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

In 2022, the average evaporated and condensed milk export price amounted to $X per ton, with an increase of 26% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average export price increased by 29% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 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 Latvia ($X per ton), while the average price for exports to Poland ($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 South Africa (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Evaporated And Condensed Milk

Imports into Lithuania

In 2022, approx. X tons of evaporated and condensed milk were imported into Lithuania; declining by -33.1% compared with the previous year. In general, imports continue to indicate a mild shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 322% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, evaporated and condensed milk imports reduced to $X in 2022. Overall, imports, however, saw temperate growth. The most prominent rate of growth was recorded in 2014 with an increase of 235% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Poland (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of evaporated and condensed milk imports to Lithuania, with a combined 66% share of total imports. Latvia, Estonia, Belgium and Slovakia lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +181.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Latvia ($X), Poland ($X) and the Netherlands ($X) appeared to be the largest evaporated and condensed milk suppliers to Lithuania, together comprising 68% of total imports. Germany, Estonia, Belgium and Slovakia lagged somewhat behind, together accounting for a further 32%.

Belgium, with a CAGR of +151.1%, saw 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

The average evaporated and condensed milk import price stood at $X per ton in 2022, increasing by 36% against the previous year. Over the period under review, the import price continues to indicate a moderate increase. The pace of growth was the most pronounced in 2017 when the average import price increased by 49% against the previous year. The import price peaked in 2022 and is expected to retain 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 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 Latvia (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform