Report Update Nov 1, 2024

Mexico - Evaporated and Condensed Milk - Market Analysis, Forecast, Size, Trends and Insights

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Mexico: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Mexico

In 2022, the Mexican evaporated and condensed milk market increased by 1.5% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. Evaporated and condensed milk consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Evaporated And Condensed Milk in Mexico

In value terms, evaporated and condensed milk production amounted to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 19%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Evaporated And Condensed Milk

Exports from Mexico

In 2022, overseas shipments of evaporated and condensed milk decreased by -4.6% to X tons, falling for the second year in a row after four years of growth. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 97%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk exports expanded notably to $X in 2022. Overall, exports, however, showed modest growth. The most prominent rate of growth was recorded in 2018 with an increase of 118%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X tons) was the main destination for evaporated and condensed milk exports from Mexico, with a 95% share of total exports. Moreover, evaporated and condensed milk exports to the United States exceeded the volume sent to the second major destination, Belize (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +1.6%.

In value terms, the United States ($X) remains the key foreign market for evaporated and condensed milk exports from Mexico, comprising 97% of total exports. The second position in the ranking was held by Belize ($X), with a 3.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +3.0%.

Export Prices by Country

The average evaporated and condensed milk export price stood at $X per ton in 2022, rising by 20% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Belize amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belize (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Evaporated And Condensed Milk

Imports into Mexico

In 2022, overseas purchases of evaporated and condensed milk increased by 116% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports, however, showed a dramatic downturn. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, evaporated and condensed milk imports skyrocketed to $X in 2022. In general, imports, however, faced a dramatic contraction. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Singapore (X tons) constituted the largest supplier of evaporated and condensed milk to Mexico, with a 66% share of total imports. Moreover, evaporated and condensed milk imports from Singapore exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore totaled -23.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-21.4% per year) and the United States (-46.6% per year).

In value terms, the largest evaporated and condensed milk suppliers to Mexico were Singapore ($X), Malaysia ($X) and the United States ($X), with a combined 84% share of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of -11.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average evaporated and condensed milk import price amounted to $X per ton, with a decrease of -4.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.8%. The most prominent rate of growth was recorded in 2013 an increase of 23%. The import price peaked at $X per ton in 2021, and then contracted slightly in the following year.

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 the United States ($X per ton), while the price for Singapore ($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 United States (+20.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for evaporated and condensed milk in the world?

The United States remains the largest evaporated and condensed milk consuming country worldwide, comprising approx. 19% of total volume. Moreover, evaporated and condensed milk consumption in the United States exceeded the figures recorded by the second-largest consumer, Peru, twofold. Malaysia ranked third in terms of total consumption with a 4.8% share.

What are the largest producers of evaporated and condensed milk in the world?

The countries with the highest volumes of evaporated and condensed milk production in 2020 were the United States, Peru and Germany, together comprising 38% of global production. These countries were followed by Malaysia, the Netherlands, Saudi Arabia, Belarus, Mexico, Singapore, Russia, the UK, France and Belgium, which together accounted for a further 40%.

What are the leading suppliers of evaporated and condensed milk to Mexico?

In value terms, the United States constituted the largest supplier of evaporated and condensed milk to Mexico, comprising 95% of total imports. The second position in the ranking was occupied by Malaysia, with a 4.6% share of total imports.

What are the leading importers of evaporated and condensed milk from Mexico?

In value terms, the United States remains the key foreign market for evaporated and condensed milk exports from Mexico, comprising 89% of total exports. The second position in the ranking was occupied by Guatemala, with a 4.2% share of total exports. It was followed by Belize, with a 2.6% share.

What is the average export price for evaporated and condensed milk in Mexico?

In 2020, the average evaporated and condensed milk export price amounted to $1,688 per ton, dropping by -6.6% against the previous year.

What is the average import price for evaporated and condensed milk in Mexico?

In 2020, the average evaporated and condensed milk import price amounted to $941 per ton, reducing by -19.1% against the previous year.

This report provides an in-depth analysis of the market for evaporated and condensed milk in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 889 - Whole Milk, Condensed
FCL 894 - Whole Milk, Evaporated
FCL 895 - Skim Milk, Evaporated
FCL 896 - Skim Milk, Condensed

Country coverage:

Mexico

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Mexico
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Producing Animals Slaughtered, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023