Northern America: Milk Market 2024

Milk Market Size in Northern America

The North American milk market expanded markedly to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Milk Production in Northern America

In value terms, milk production rose remarkably to $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

The country with the largest volume of milk production was the United States (X tons), accounting for X% of total volume. Moreover, milk production in the United States exceeded the figures recorded by the second-largest producer, Canada (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume in the United States amounted to X%.

Milk Exports

Exports in Northern America

In 2022, the amount of milk exported in Northern America contracted slightly to X tons, remaining relatively unchanged against the year before. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, milk exports declined modestly to $X in 2022. Over the period under review, exports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The level of export peaked at $X in 2021, and then declined in the following year.

Exports by Country

In 2022, the United States (X tons) represented the largest exporter of milk, generating X% of total exports. It was distantly followed by Canada (X tons), creating an X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to milk exports from the United States stood at X%. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Canada increased by X percentage points.

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

In the United States, milk exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, remaining relatively unchanged against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, milk export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then reduced modestly in the following year.

Prices varied noticeably by country of origin: 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 (X%).

Milk Imports

Imports in Northern America

In 2022, after four years of growth, there was decline in supplies from abroad of milk, when their volume decreased by X% to X tons. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2017 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, milk imports fell to $X in 2022. Over the period under review, imports, however, posted a resilient increase. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

Canada represented the major importing country with an import of about X tons, which finished at X% of total imports. It was distantly followed by the United States (X tons) and Greenland (X tons), together making up a X% share of total imports.

Imports into Canada increased at an average annual rate of X% from 2012 to 2022. At the same time, the United States (X%) and Greenland (X%) displayed positive paces of growth. Moreover, the United States emerged as the fastest-growing importer imported in Northern America, with a CAGR of X% from 2012-2022. The United States (X p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest milk importing markets in Northern America were Canada ($X), the United States ($X) and Greenland ($X), together accounting for X% of total imports.

The United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price, however, saw buoyant growth. The growth pace was the most rapid in 2020 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Canada ($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 (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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