Serbia: Powdered Milk Market 2024

Powdered Milk Market Size in Serbia

The Serbian powdered milk market surged to $X in 2022, increasing by 186% against the previous year. Overall, consumption continues to indicate a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Powdered Milk Production in Serbia

In value terms, powdered milk production expanded sharply to $X in 2022 estimated in export price. Over the period under review, the total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 -8.9% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by 55% against the previous year. Powdered milk production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Powdered Milk Exports

Exports from Serbia

In 2022, overseas shipments of powdered milk were finally on the rise to reach X tons after two years of decline. In general, exports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2018 when exports increased by 546% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, powdered milk exports surged to $X in 2022. Over the period under review, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 442% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for powdered milk exports from Serbia, with a 61% share of total exports. Moreover, powdered milk exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, China (X tons), twofold. Montenegro (X tons) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume to Bosnia and Herzegovina was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+142.0% per year) and Montenegro (+26.6% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for powdered milk exports from Serbia, comprising 60% of total exports. The second position in the ranking was taken by China ($X), with a 24% share of total exports. It was followed by Montenegro, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Bosnia and Herzegovina totaled +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+152.7% per year) and Montenegro (+24.5% per year).

Export Prices by Country

The average powdered milk export price stood at $X per ton in 2022, rising by 9.2% against the previous year. Overall, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk export price increased by +88.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 73%. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Powdered Milk Imports

Imports into Serbia

In 2022, the amount of powdered milk imported into Serbia skyrocketed to X tons, with an increase of 197% compared with 2021 figures. In general, imports recorded a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, powdered milk imports skyrocketed to $X in 2022. Over the period under review, imports recorded buoyant growth. 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 supplier of powdered milk to Serbia, accounting for a 43% share of total imports. Moreover, powdered milk imports from Poland exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. The third position in this ranking was taken by the Czech Republic (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland amounted to +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+20.4% per year) and the Czech Republic (+4.1% per year).

In value terms, Poland ($X) constituted the largest supplier of powdered milk to Serbia, comprising 42% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 12% share of total imports. It was followed by France, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland stood at +20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+6.6% per year) and France (+20.5% per year).

Import Prices by Country

In 2022, the average powdered milk import price amounted to $X per ton, surging by 37% against the previous year. In general, the import price saw measured growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Denmark ($X per ton) and the Czech Republic ($X per ton), while the price for France ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+17.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform