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

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

In 2022, the SADC market for condensed or evaporated milk (sweetened) decreased by -2% to $X, falling for the fourth year in a row after two years of growth. Over the period under review, consumption saw a pronounced curtailment. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Condensed Or Evaporated Milk (Sweetened) in SADC

In value terms, sweetened condensed and evaporated milk production totaled $X in 2022 estimated in export price. Overall, production, however, saw a pronounced setback. The growth pace was the most rapid in 2018 when the production volume increased by 129%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports in SADC

Sweetened condensed and evaporated milk exports reduced rapidly to X tons in 2022, dropping by -21.3% on the previous year's figure. In general, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 53%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, sweetened condensed and evaporated milk exports fell to $X in 2022. Over the period under review, exports showed a abrupt descent. The pace of growth was the most pronounced in 2016 with an increase of 28%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

South Africa dominates exports structure, accounting for X tons, which was near 96% of total exports in 2022. Zambia (X tons) followed a long way behind the leaders.

Exports from South Africa decreased at an average annual rate of -6.2% from 2012 to 2022. At the same time, Zambia (+8.4%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in SADC, with a CAGR of +8.4% from 2012-2022. While the share of South Africa (+25 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest sweetened condensed and evaporated milk supplier in SADC, comprising 95% of total exports. The second position in the ranking was held by Zambia ($X), with a 2.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value in South Africa totaled -4.6%.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, surging by 18% against the previous year. Export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sweetened condensed and evaporated milk export price increased by +35.4% against 2018 indices. The growth pace was the most rapid in 2018 an increase of 19%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Zambia ($X per ton), while South Africa amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zambia (+5.2%).

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports in SADC

In 2022, the amount of condensed or evaporated milk (sweetened) imported in SADC fell to X tons, declining by -10.9% against the year before. Overall, imports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 25%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, sweetened condensed and evaporated milk imports declined slightly to $X in 2022. Over the period under review, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 12%. 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, Madagascar (X tons) represented the key importer of condensed or evaporated milk (sweetened), creating 42% of total imports. Mozambique (X tons) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by South Africa (9.9%), Namibia (7.8%), Democratic Republic of the Congo (5.1%) and Comoros (4.5%). Mauritius (X tons) held a relatively small share of total imports.

Madagascar was also the fastest-growing in terms of the condensed or evaporated milk (sweetened) imports, with a CAGR of +29.0% from 2012 to 2022. At the same time, Comoros (+23.7%), Mozambique (+18.1%), South Africa (+11.5%) and Democratic Republic of the Congo (+5.8%) displayed positive paces of growth. Mauritius experienced a relatively flat trend pattern. By contrast, Namibia (-1.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Madagascar, Mozambique, South Africa, Comoros and Democratic Republic of the Congo increased by +40, +13, +7.6, +4.1 and +3.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Madagascar ($X), South Africa ($X) and Namibia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 61% share of total imports.

Madagascar, with a CAGR of +24.8%, saw 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 SADC amounted to $X per ton, increasing by 10% against the previous year. In general, the import price, however, continues to indicate a perceptible downturn. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mauritius ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (+5.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform