SADC: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in SADC

In 2022, the SADC evaporated and condensed milk market increased by 1.9% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, showed a abrupt downturn. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Evaporated And Condensed Milk in SADC

In value terms, evaporated and condensed milk production dropped to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 28%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

The country with the largest volume of evaporated and condensed milk production was South Africa (X tons), accounting for 86% of total volume. Moreover, evaporated and condensed milk production in South Africa exceeded the figures recorded by the second-largest producer, Zimbabwe (X tons), ninefold. The third position in this ranking was held by Madagascar (X tons), with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in South Africa stood at -2.5%. The remaining producing countries recorded the following average annual rates of production growth: Zimbabwe (+0.1% per year) and Madagascar (-1.5% per year).

Exports of Evaporated And Condensed Milk

Exports in SADC

Evaporated and condensed milk exports fell to X tons in 2022, reducing by -8.3% on the year before. Over the period under review, exports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 27%. Over the period under review, the exports reached the maximum 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 shrank significantly to $X in 2022. In general, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 11% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, South Africa (X tons) was the key exporter of evaporated and condensed milk in SADC, making up 99% of total export.

South Africa was also the fastest-growing in terms of the evaporated and condensed milk exports, with a CAGR of -3.7% from 2012 to 2022. South Africa (+4.5 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest evaporated and condensed milk supplier in SADC.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at -8.5%.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, waning by -8% against the previous year. In general, the export price showed a pronounced descent. The pace of growth was the most pronounced in 2021 an increase of 16%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to -4.9% per year.

Imports of Evaporated And Condensed Milk

Imports in SADC

In 2022, imports of evaporated and condensed milk in SADC fell to X tons, declining by -8.1% against 2021 figures. Over the period under review, imports faced a abrupt slump. The pace of growth appeared the most rapid in 2019 when imports increased by 14%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, evaporated and condensed milk imports rose slightly to $X in 2022. In general, imports saw a abrupt decrease. The pace of growth was the most pronounced in 2017 when imports increased by 9.6%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Madagascar (X tons) represented the main importer of evaporated and condensed milk, achieving 37% of total imports. It was distantly followed by Mozambique (X tons), South Africa (X tons), Democratic Republic of the Congo (X tons), Namibia (X tons), Comoros (X tons) and Mauritius (X tons), together achieving a 50% share of total imports.

Madagascar was also the fastest-growing in terms of the evaporated and condensed milk imports, with a CAGR of +24.9% from 2012 to 2022. At the same time, Mozambique (+16.9%), Comoros (+16.9%), Democratic Republic of the Congo (+9.7%), South Africa (+7.4%) and Mauritius (+4.1%) displayed positive paces of growth. By contrast, Namibia (-3.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Madagascar, Mozambique, South Africa, Democratic Republic of the Congo, Comoros, Mauritius and Namibia increased by +36, +12, +8.1, +6.5, +6.1, +4.3 and +3.7 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 Mauritius ($X) constituted the countries with the highest levels of imports in 2022, with a combined 55% share of total imports.

Among the main importing countries, Madagascar, with a CAGR of +20.3%, 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

The import price in SADC stood at $X per ton in 2022, surging by 12% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2015 an increase of 28% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 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 (+3.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform