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

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

In 2021, after three years of decline, there was significant growth in the Portuguese market for condensed or evaporated milk (unsweetened), when its value increased by 41% to $X. Over the period under review, consumption, however, recorded a abrupt curtailment. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Condensed Or Evaporated Milk (Unsweetened) in Portugal

In value terms, unsweetened condensed and evaporated milk production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, showed a deep setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by 19% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Portugal

In 2021, overseas shipments of condensed or evaporated milk (unsweetened) decreased by -23.3% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 76% against the previous year. The exports peaked at X tons in 2020, and then contracted sharply in the following year.

In value terms, unsweetened condensed and evaporated milk exports fell modestly to $X in 2021. In general, exports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2018 with an increase of 29%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for unsweetened condensed and evaporated milk exports from Portugal, accounting for a 91% share of total exports. Moreover, unsweetened condensed and evaporated milk exports to Spain exceeded the volume sent to the second major destination, Poland (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total exports with a 0.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain totaled +15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+2.8% per year) and the Netherlands (-23.5% per year).

In value terms, Spain ($X) remains the key foreign market for condensed or evaporated milk (unsweetened) exports from Portugal, comprising 71% of total exports. The second position in the ranking was held by Poland ($X), with an 11% share of total exports. It was followed by the Netherlands, with a 1.8% share.

From 2012 to 2021, the average annual growth rate of value to Spain stood at -3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+0.3% per year) and the Netherlands (-25.4% per year).

Export Prices by Country

The average export price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, picking up by 27% against the previous year. In general, the export price, however, continues to indicate a deep downturn. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (-2.4%), while the prices for the other major destinations experienced a decline.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Portugal

In 2021, the amount of condensed or evaporated milk (unsweetened) imported into Portugal declined sharply to X tons, waning by -33% on the previous year's figure. In general, imports faced a deep downturn. The pace of growth appeared the most rapid in 2014 when imports increased by 76%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, unsweetened condensed and evaporated milk imports contracted to $X in 2021. Overall, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2013 with an increase of 33% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Spain (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of unsweetened condensed and evaporated milk imports to Portugal, with a combined 88% share of total imports. France lagged somewhat behind, comprising a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +68.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest unsweetened condensed and evaporated milk suppliers to Portugal were the Netherlands ($X), Spain ($X) and Germany ($X), together comprising 84% of total imports. These countries were followed by France, which accounted for a further 15%.

Among the main suppliers, France, with a CAGR of +60.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for condensed or evaporated milk (unsweetened) amounted to $X per ton, growing by 41% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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