Norway: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Norway

The Norwegian evaporated and condensed milk market contracted to $X in 2022, waning by -7.2% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Production of Evaporated And Condensed Milk in Norway

In value terms, evaporated and condensed milk production contracted sharply to $X in 2022 estimated in export price. Over the period under review, production saw a slight curtailment. The most prominent rate of growth was recorded in 2016 when the production volume increased by 64% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Exports of Evaporated And Condensed Milk

Exports from Norway

In 2022, the amount of evaporated and condensed milk exported from Norway surged to X tons, picking up by 1,718% against the previous year's figure. In general, exports, however, saw a precipitous descent. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, evaporated and condensed milk exports soared to $X in 2022. Overall, exports, however, recorded a abrupt decline. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Denmark (X kg), the UK (X kg) and Latvia (X kg) were the main destinations of evaporated and condensed milk exports from Norway, with a combined 86% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +65.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Latvia ($X) emerged as the key foreign market for evaporated and condensed milk exports from Norway, comprising 53% of total exports. The second position in the ranking was taken by Germany ($X), with a 19% share of total exports. It was followed by the UK, with an 18% share.

From 2012 to 2022, the average annual growth rate of value to Latvia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+24.2% per year) and the UK (+51.6% per year).

Export Prices by Country

In 2022, the average evaporated and condensed milk export price amounted to $X per ton, with an increase of 39% against the previous year. Over the period under review, the export price enjoyed strong growth. The most prominent rate of growth was recorded in 2021 an increase of 202% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Latvia ($X per ton), while the average price for exports to Denmark ($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 Germany (+13.0%), while the prices for the other major destinations experienced a decline.

Imports of Evaporated And Condensed Milk

Imports into Norway

In 2022, after four years of growth, there was significant decline in supplies from abroad of evaporated and condensed milk, when their volume decreased by -18.5% to X tons. Over the period under review, imports, however, saw resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 36%. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank significantly in the following year.

In value terms, evaporated and condensed milk imports fell to $X in 2022. In general, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 33%. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

Belgium (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of evaporated and condensed milk imports to Norway, together accounting for 85% of total imports. France, Lithuania, Spain, Denmark and Sweden lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +35.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of evaporated and condensed milk to Norway, comprising 54% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 25% share of total imports. It was followed by France, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium amounted to +25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.5% per year) and France (+31.8% per year).

Import Prices by Country

In 2022, the average evaporated and condensed milk import price amounted to $X per ton, increasing by 13% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 22% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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