Portugal: Powdered Milk Market 2024

Powdered Milk Market Size in Portugal

The Portuguese powdered milk market surged to $X in 2022, growing by 173% against the previous year. Over the period under review, consumption recorded a resilient increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Powdered Milk Production in Portugal

In value terms, powdered milk production rose modestly to $X in 2022 estimated in export price. Overall, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 -3.8% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 52% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Powdered Milk Exports

Exports from Portugal

In 2022, after three years of growth, there was significant decline in shipments abroad of powdered milk, when their volume decreased by -38.4% to X tons. Over the period under review, exports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 83%. The exports peaked at X tons in 2021, and then reduced notably in the following year.

In value terms, powdered milk exports fell sharply to $X in 2022. Overall, exports, however, posted prominent growth. The growth pace was the most rapid in 2019 with an increase of 48%. Over the period under review, the exports attained the maximum at $X in 2021, and then reduced notably in the following year.

Exports by Country

Spain (X tons), the Netherlands (X tons) and France (X tons) were the main destinations of powdered milk exports from Portugal, together comprising 62% of total exports. Germany, Angola, Italy, Austria, Belgium and Poland lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +68.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for powdered milk exported from Portugal were Spain ($X), the Netherlands ($X) and France ($X), together accounting for 61% of total exports. Germany, Angola, Austria, Italy, Belgium and Poland lagged somewhat behind, together accounting for a further 26%.

Austria, with a CAGR of +67.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average powdered milk export price amounted to $X per ton, with an increase of 32% against the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.6% 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 +75.7% against 2018 indices. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to France ($X per ton) and Austria ($X per ton), while the average price for exports to Italy ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Powdered Milk Imports

Imports into Portugal

In 2022, approx. X tons of powdered milk were imported into Portugal; rising by 17% on 2021. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, powdered milk imports soared to $X in 2022. Overall, imports recorded notable growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Spain (X tons), the Netherlands (X tons) and France (X tons) were the main suppliers of powdered milk imports to Portugal, with a combined 84% share of total imports. Ireland, Denmark and Germany lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ireland (with a CAGR of +97.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest powdered milk suppliers to Portugal were Spain ($X), the Netherlands ($X) and France ($X), together comprising 83% of total imports. Ireland, Germany and Denmark lagged somewhat behind, together comprising a further 15%.

Ireland, with a CAGR of +74.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average powdered milk import price amounted to $X per ton, rising by 29% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk import price increased by +65.9% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 40% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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