Serbia: Market for Powdered, Evaporated And Condensed Milk 2024

Market Size for Powdered, Evaporated And Condensed Milk in Serbia

The Serbian market for powdered, evaporated and condensed milk soared to $X in 2022, growing by X% against the previous year. In general, consumption continues to indicate a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Powdered, Evaporated And Condensed Milk in Serbia

In value terms, powdered, evaporated and condensed milk production skyrocketed to $X in 2022 estimated in export price. Overall, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Powdered, Evaporated And Condensed Milk

Exports from Serbia

For the fourth year in a row, Serbia recorded decline in overseas shipments of powdered, evaporated and condensed milk, which decreased by X% to X tons in 2022. Overall, exports, however, enjoyed a moderate increase. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, powdered, evaporated and condensed milk exports amounted to $X in 2022. In general, exports, however, saw strong growth. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for powdered, evaporated and condensed milk exports from Serbia, accounting for a X% share of total exports. Moreover, powdered, evaporated and condensed milk exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Montenegro (X tons), fourfold. The third position in this ranking was held by China (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bosnia and Herzegovina was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (X% per year) and China (X% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for powdered, evaporated and condensed milk exports from Serbia, comprising X% of total exports. The second position in the ranking was held by Montenegro ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Bosnia and Herzegovina stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average export price for powdered, evaporated and condensed milk amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price enjoyed temperate growth. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Bosnia and Herzegovina ($X per ton) and Albania ($X per ton), while the average price for exports to North Macedonia ($X per ton) and China ($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 North Macedonia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Powdered, Evaporated And Condensed Milk

Imports into Serbia

Powdered, evaporated and condensed milk imports into Serbia soared to X tons in 2022, growing by X% against 2021 figures. In general, imports recorded a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, powdered, evaporated and condensed milk imports surged to $X in 2022. Over the period under review, imports saw a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Poland (X tons) constituted the largest powdered, evaporated and condensed milk supplier to Serbia, with a X% share of total imports. Moreover, powdered, evaporated and condensed milk imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by Bosnia and Herzegovina (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Poland stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Bosnia and Herzegovina (X% per year).

In value terms, Poland ($X) constituted the largest supplier of powdered, evaporated and condensed milk to Serbia, comprising X% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a X% share of total imports. It was followed by France, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Poland totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (X% per year) and France (X% per year).

Import Prices by Country

The average import price for powdered, evaporated and condensed milk stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price enjoyed a temperate increase. The growth pace was the most rapid in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Denmark ($X per ton), while the price for Bosnia and Herzegovina ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform