Northern America: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in Northern America

The North American market for condensed or evaporated milk (unsweetened) dropped notably to $X in 2021, declining by -16.8% against the previous year. The total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +28.6% against 2017 indices. As a result, consumption reached the peak level of $X, and then contracted significantly in the following year.

Production of Condensed Or Evaporated Milk (Unsweetened) in Northern America

In value terms, unsweetened condensed and evaporated milk production shrank significantly to $X in 2021 estimated in export price. The total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +68.1% against 2014 indices. The growth pace was the most rapid in 2020 when the production volume increased by 54%. As a result, production reached the peak level of $X, and then reduced notably in the following year.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports in Northern America

Unsweetened condensed and evaporated milk exports skyrocketed to X tons in 2021, picking up by 176% on 2020. In general, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, unsweetened condensed and evaporated milk exports skyrocketed to $X in 2021. Overall, exports showed a moderate expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from the United States (X tons), together finishing at 99% of total export.

The United States experienced a relatively flat trend pattern with regard to volume of exports of condensed or evaporated milk (unsweetened). The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) also remains the largest unsweetened condensed and evaporated milk supplier in Northern America.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States totaled +4.8%.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, rising by 19% against the previous year. Export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unsweetened condensed and evaporated milk export price increased by +60.5% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the export price increased by 34% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +5.6% per year.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports in Northern America

In 2021, approx. X tons of condensed or evaporated milk (unsweetened) were imported in Northern America; picking up by 62% compared with the year before. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 70% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, unsweetened condensed and evaporated milk imports soared to $X in 2021. Total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -34.6% against 2018 indices. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States represented the major importing country with an import of around X tons, which resulted at 74% of total imports. It was distantly followed by Canada (X tons), creating a 25% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of condensed or evaporated milk (unsweetened). Canada experienced a relatively flat trend pattern. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported condensed or evaporated milk (unsweetened) in Northern America, comprising 85% of total imports. The second position in the ranking was taken by Canada ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual growth rate of value in the United States totaled +2.8%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, increasing by 3.3% against the previous year. Over the period under review, the import price recorded a tangible expansion. The growth pace was the most rapid in 2015 an increase of 83%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.3%).

Source: IndexBox Platform

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