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

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

In 2022, the Scandinavia market for condensed or evaporated milk (sweetened) increased by 0.1% to $X, rising for the third consecutive year after two years of decline. In general, consumption showed a pronounced descent. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Condensed Or Evaporated Milk (Sweetened) in Scandinavia

In value terms, sweetened condensed and evaporated milk production totaled $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2014 with an increase of 49% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports in Scandinavia

In 2022, shipments abroad of condensed or evaporated milk (sweetened) decreased by -10% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports showed a pronounced descent. The pace of growth was the most pronounced in 2021 when exports increased by 73%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, sweetened condensed and evaporated milk exports dropped dramatically to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 117% against the previous year. As a result, the exports reached the peak of $X, and then contracted notably in the following year.

Exports by Country

Sweden dominates exports structure, finishing at X tons, which was approx. 96% of total exports in 2022. Norway (X tons) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the condensed or evaporated milk (sweetened) exports, with a CAGR of -2.3% from 2012 to 2022. Norway (-23.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden increased by +18 percentage points.

In value terms, Sweden ($X) remains the largest sweetened condensed and evaporated milk supplier in Scandinavia, comprising 96% of total exports. The second position in the ranking was taken by Norway ($X), with a 3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden was relatively modest.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, which is down by -46.5% against the previous year. Overall, the export price, however, saw a perceptible expansion. The pace of growth was the most pronounced in 2020 when the export price increased by 54%. Over the period under review, the export prices reached the peak figure at $X per ton in 2021, and then shrank rapidly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while Sweden stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+13.1%).

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports in Scandinavia

In 2022, sweetened condensed and evaporated milk imports in Scandinavia declined remarkably to X tons, reducing by -17.5% on the previous year's figure. Total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.9% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 49%. As a result, imports attained the peak of X tons, and then declined rapidly in the following year.

In value terms, sweetened condensed and evaporated milk imports declined modestly to $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.7% against 2018 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 40% against the previous year. As a result, imports attained the peak of $X, and then contracted modestly in the following year.

Imports by Country

Sweden was the largest importer of condensed or evaporated milk (sweetened) in Scandinavia, with the volume of imports accounting for X tons, which was approx. 66% of total imports in 2022. Norway (X tons) ranks second in terms of the total imports with a 23% share, followed by Finland (11%).

Imports into Sweden increased at an average annual rate of +1.4% from 2012 to 2022. At the same time, Norway (+10.7%) and Finland (+7.4%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +10.7% from 2012-2022. Norway (+11 p.p.) and Finland (+3.4 p.p.) significantly strengthened its position in terms of the total imports, while Sweden saw its share reduced by -14.7% from 2012 to 2022, respectively.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) appeared to be the countries with the highest levels of imports in 2022.

Norway, with a CAGR of +11.5%, saw the highest rates of growth with regard to the value of imports, among 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 Scandinavia amounted to $X per ton, rising by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+1.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform