Northern America: Powdered Milk Market 2024

Powdered Milk Market Size in Northern America

The North American powdered milk market surged to $X in 2022, rising by 16% against the previous year. Over the period under review, consumption, however, recorded a pronounced decline. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Powdered Milk Production in Northern America

In value terms, powdered milk production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 27% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

The country with the largest volume of powdered milk production was the United States (X tons), comprising approx. 93% of total volume. Moreover, powdered milk production in the United States exceeded the figures recorded by the second-largest producer, Canada (X tons), more than tenfold.

In the United States, powdered milk production increased at an average annual rate of +2.2% over the period from 2012-2022.

Powdered Milk Exports

Exports in Northern America

After two years of growth, overseas shipments of powdered milk decreased by -3.3% to X tons in 2022. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.7% against 2015 indices. The growth pace was the most rapid in 2013 when exports increased by 28% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, powdered milk exports soared to $X in 2022. In general, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2013 when exports increased by 56%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States dominates exports structure, recording X tons, which was approx. 97% of total exports in 2022. Canada (X tons) followed a long way behind the leaders.

Exports from the United States increased at an average annual rate of +6.5% from 2012 to 2022. At the same time, Canada (+8.9%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +8.9% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest powdered milk supplier in Northern America, comprising 97% of total exports. The second position in the ranking was held by Canada ($X), with a 3% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +8.8%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, jumping by 32% against the previous year. Export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk export price increased by +94.0% against 2018 indices. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.2%).

Powdered Milk Imports

Imports in Northern America

In 2022, powdered milk imports in Northern America skyrocketed to X tons, surging by 25% compared with the previous year's figure. In general, imports showed a notable increase. The growth pace was the most rapid in 2019 when imports increased by 52%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, powdered milk imports soared to $X in 2022. Total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.5% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) represented the main importer of powdered milk, mixing up 74% of total imports. It was distantly followed by Canada (X tons), making up a 24% share of total imports.

The United States was also the fastest-growing in terms of the powdered milk imports, with a CAGR of +3.0% from 2012 to 2022. At the same time, Canada (+2.4%) displayed positive paces of growth. While the share of the United States (+2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported powdered milk in Northern America, comprising 83% of total imports. The second position in the ranking was taken by Canada ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to +4.3%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, jumping by 16% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 25% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.3%).

Source: IndexBox Platform

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