New Zealand: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in New Zealand

The New Zealand evaporated and condensed milk market rose markedly to $X in 2022, increasing by 10% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Evaporated And Condensed Milk in New Zealand

In value terms, evaporated and condensed milk production declined to $X in 2022 estimated in export price. In general, production, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by 306%. Evaporated and condensed milk production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Evaporated And Condensed Milk

Exports from New Zealand

In 2022, overseas shipments of evaporated and condensed milk increased by 307% to X tons, rising for the second year in a row after two years of decline. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 317% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, evaporated and condensed milk exports soared to $X in 2022. Over the period under review, exports posted a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 494% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for evaporated and condensed milk exports from New Zealand, with a 56% share of total exports. Moreover, evaporated and condensed milk exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Malaysia (X tons), threefold. Papua New Guinea (X tons) ranked third in terms of total exports with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume to Taiwan (Chinese) totaled +1,085.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+153.0% per year) and Papua New Guinea (+56.9% per year).

In value terms, Taiwan (Chinese) ($X) emerged as the key foreign market for evaporated and condensed milk exports from New Zealand, comprising 67% of total exports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total exports. It was followed by Hong Kong SAR, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Taiwan (Chinese) totaled +1,666.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+140.8% per year) and Hong Kong SAR (-4.2% per year).

Export Prices by Country

The average evaporated and condensed milk export price stood at $X per ton in 2022, declining by -13.4% against the previous year. Over the period under review, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the average export price increased by 55% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Papua New Guinea ($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 Taiwan (Chinese) (+49.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Evaporated And Condensed Milk

Imports into New Zealand

In 2022, after three years of growth, there was significant decline in purchases abroad of evaporated and condensed milk, when their volume decreased by -29.9% to X tons. In general, imports saw a mild slump. The most prominent rate of growth was recorded in 2019 when imports increased by 19% against the previous year. Imports peaked at X tons in 2021, and then shrank significantly in the following year.

In value terms, evaporated and condensed milk imports reduced markedly to $X in 2022. Overall, imports continue to indicate a slight downturn. The pace of growth appeared the most rapid in 2020 with an increase of 26% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Spain (X tons), the Netherlands (X tons) and Australia (X tons) were the main suppliers of evaporated and condensed milk imports to New Zealand, together accounting for 76% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +56.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), the Netherlands ($X) and Australia ($X) were the largest evaporated and condensed milk suppliers to New Zealand, with a combined 76% share of total imports.

Among the main suppliers, Spain, with a CAGR of +59.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average evaporated and condensed milk import price amounted to $X per ton, surging by 14% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Philippines ($X per ton), while the price for Germany ($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 Philippines (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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