Portugal: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in Portugal

In 2022, the Portuguese market for condensed or evaporated milk (sweetened) increased by 8% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, showed a slight downturn. Sweetened condensed and evaporated milk consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Condensed Or Evaporated Milk (Sweetened) in Portugal

In value terms, sweetened condensed and evaporated milk production surged to $X in 2022 estimated in export price. Over the period under review, production, however, posted a significant increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Portugal

In 2022, shipments abroad of condensed or evaporated milk (sweetened) increased by 38% to X tons, rising for the third consecutive year after two years of decline. In general, exports enjoyed strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 394% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk exports rose significantly to $X in 2022. Overall, exports posted a buoyant increase. The growth pace was the most rapid in 2013 with an increase of 488%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Angola (X tons), China (X tons) and Cabo Verde (X tons) were the main destinations of sweetened condensed and evaporated milk exports from Portugal, together accounting for 61% of total exports. France, the UK, Saudi Arabia, Belgium, Libya, Switzerland, Guinea-Bissau and Luxembourg lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guinea-Bissau (with a CAGR of +65.6%), while the other leaders experienced more modest paces of growth.

In value terms, Angola ($X) emerged as the key foreign market for condensed or evaporated milk (sweetened) exports from Portugal, comprising 34% of total exports. The second position in the ranking was held by Cabo Verde ($X), with a 14% share of total exports. It was followed by France, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Angola totaled +10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cabo Verde (+29.1% per year) and France (+13.2% per year).

Export Prices by Country

The average export price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, reducing by -20.2% against the previous year. Overall, the export price showed a noticeable curtailment. The most prominent rate of growth was recorded in 2017 an increase of 28% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cabo Verde ($X per ton), while the average price for exports to China ($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 Luxembourg (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Portugal

In 2022, overseas purchases of condensed or evaporated milk (sweetened) increased by 23% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 28%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, sweetened condensed and evaporated milk imports amounted to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 21%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest sweetened condensed and evaporated milk supplier to Portugal, with a 70% share of total imports. Moreover, sweetened condensed and evaporated milk imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was held by France (X tons), with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.2% per year) and France (+88.5% per year).

In value terms, Spain ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to Portugal, comprising 67% of total imports. The second position in the ranking was held by Germany ($X), with a 20% share of total imports. It was followed by France, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.1% per year) and France (+65.1% per year).

Import Prices by Country

In 2022, the average import price for condensed or evaporated milk (sweetened) amounted to $X per ton, declining by -9.2% against the previous year. In general, the import price showed a pronounced reduction. The pace of growth appeared the most rapid in 2018 when the average import price increased by 7%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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 Belgium ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :