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

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

The Malaysian market for condensed or evaporated milk (unsweetened) soared to $X in 2021, growing by 194% against the previous year. In general, consumption, however, showed a perceptible shrinkage. Unsweetened condensed and evaporated milk consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Condensed Or Evaporated Milk (Unsweetened) in Malaysia

In value terms, unsweetened condensed and evaporated milk production fell to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 36%. Over the period under review, production reached the peak level at $X in 2020, and then dropped in the following year.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Malaysia

In 2021, shipments abroad of condensed or evaporated milk (unsweetened) decreased by -51.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of 92%. The exports peaked at X tons in 2020, and then contracted markedly in the following year.

In value terms, unsweetened condensed and evaporated milk exports shrank sharply to $X in 2021. Overall, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 80%. The exports peaked at $X in 2020, and then contracted rapidly in the following year.

Exports by Country

Senegal (X tons), Haiti (X tons) and Ghana (X tons) were the main destinations of unsweetened condensed and evaporated milk exports from Malaysia, with a combined 48% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ghana (with a CAGR of +69.9%), while the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Haiti ($X) and Senegal ($X) appeared to be the largest markets for unsweetened condensed and evaporated milk exported from Malaysia worldwide, with a combined 42% share of total exports.

In terms of the main countries of destination, Ghana, with a CAGR of +65.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, surging by 6.5% against the previous year. Overall, the export price, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2018 an increase of 8.6%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Yemen ($X per ton), while the average price for exports to Senegal ($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 Haiti (+1.1%), while the prices for the other major destinations experienced a decline.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Malaysia

In 2021, overseas purchases of condensed or evaporated milk (unsweetened) were finally on the rise to reach X tons after two years of decline. Overall, imports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 914%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, unsweetened condensed and evaporated milk imports surged to $X in 2021. Over the period under review, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 835% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Australia (X tons) was the main supplier of unsweetened condensed and evaporated milk to Malaysia, accounting for a 98% share of total imports. It was followed by Singapore (X tons), with a 0.8% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Australia totaled +20.9%.

In value terms, Australia ($X) constituted the largest supplier of condensed or evaporated milk (unsweetened) to Malaysia, comprising 99% of total imports. The second position in the ranking was held by Singapore ($X), with a 0.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Australia totaled +20.1%.

Import Prices by Country

In 2021, the average import price for condensed or evaporated milk (unsweetened) amounted to $X per ton, declining by -5.2% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 30%. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat 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 Australia ($X per ton), while the price for Singapore stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :