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

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

The Scandinavia market for condensed or evaporated milk (unsweetened) reached $X in 2021, approximately equating the previous year. Overall, consumption recorded a mild setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Condensed Or Evaporated Milk (Unsweetened) in Scandinavia

In value terms, unsweetened condensed and evaporated milk production shrank to $X in 2021 estimated in export price. The total production indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +50.9% against 2016 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 43%. The level of production peaked at $X in 2020, and then declined in the following year.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports in Scandinavia

In 2021, shipments abroad of condensed or evaporated milk (unsweetened) increased by 35% to X tons, rising for the second year in a row after four years of decline. Overall, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 58%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, unsweetened condensed and evaporated milk exports soared to $X in 2021. Over the period under review, exports recorded a noticeable expansion. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Sweden (X tons) was the main exporter of condensed or evaporated milk (unsweetened), achieving 80% of total exports. It was distantly followed by Denmark (X tons), achieving a 20% share of total exports.

Sweden was also the fastest-growing in terms of the condensed or evaporated milk (unsweetened) exports, with a CAGR of +34.8% from 2012 to 2021. Denmark (-10.7%) illustrated a downward trend over the same period. While the share of Sweden (+71 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Denmark (-70.3 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) remains the largest unsweetened condensed and evaporated milk supplier in Scandinavia, comprising 87% of total exports. The second position in the ranking was held by Denmark ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden totaled +37.0%.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, picking up by 28% against the previous year. In general, the export price, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2019 when the export price increased by 44% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Denmark totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+1.7%).

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports in Scandinavia

Unsweetened condensed and evaporated milk imports skyrocketed to X tons in 2021, jumping by 17% compared with the previous year. Overall, imports, however, showed a abrupt descent. The growth pace was the most rapid in 2019 with an increase of 96%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, unsweetened condensed and evaporated milk imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by 52% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Denmark was the main importer of condensed or evaporated milk (unsweetened) in Scandinavia, with the volume of imports finishing at X tons, which was approx. 85% of total imports in 2021. It was distantly followed by Sweden (X tons), making up a 14% share of total imports.

Denmark was also the fastest-growing in terms of the condensed or evaporated milk (unsweetened) imports, with a CAGR of +52.9% from 2012 to 2021. Sweden (-25.1%) illustrated a downward trend over the same period. While the share of Denmark (+84 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Sweden (-84.1 p.p.) displayed negative dynamics.

In value terms, Denmark ($X) and Sweden ($X) were the countries with the highest levels of imports in 2021.

Denmark, with a CAGR of +31.1%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, with an increase of 2% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 77%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per ton), while Denmark stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+11.1%).

Source: IndexBox Platform