Singapore: Market for Condensed Or Evaporated Milk (Unsweetened) 2025

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

After two years of growth, the Singaporean market for condensed or evaporated milk (unsweetened) decreased by -5.1% to $X in 2021. In general, consumption showed a deep slump. Unsweetened condensed and evaporated milk consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Condensed Or Evaporated Milk (Unsweetened) in Singapore

In value terms, unsweetened condensed and evaporated milk production fell to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2019 with an increase of 17% against the previous year. Unsweetened condensed and evaporated milk production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Singapore

In 2021, overseas shipments of condensed or evaporated milk (unsweetened) increased by 46% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, continue to indicate a abrupt contraction. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, unsweetened condensed and evaporated milk exports soared to $X in 2021. Overall, exports, however, recorded a abrupt downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sri Lanka (X tons), Kuwait (X tons) and Hong Kong SAR (X tons) were the main destinations of unsweetened condensed and evaporated milk exports from Singapore, together accounting for 78% of total exports. Brunei Darussalam, Thailand, the Philippines and China lagged somewhat behind, together comprising a further 17%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +79.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for unsweetened condensed and evaporated milk exported from Singapore were Sri Lanka ($X), Kuwait ($X) and Hong Kong SAR ($X), with a combined 73% share of total exports. Thailand, Brunei Darussalam, China and the Philippines lagged somewhat behind, together comprising a further 23%.

China, with a CAGR of +90.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for condensed or evaporated milk (unsweetened) amounted to $X per ton, increasing by 3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The growth pace was the most rapid in 2020 an increase of 16% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cameroon (+93.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Singapore

In 2021, after two years of decline, there was significant growth in purchases abroad of condensed or evaporated milk (unsweetened), when their volume increased by 14% to X tons. In general, imports, however, showed a pronounced reduction. The pace of growth appeared the most rapid in 2018 when imports increased by 148%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, unsweetened condensed and evaporated milk imports expanded significantly to $X in 2021. Over the period under review, imports, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 87%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Thailand (X tons) constituted the largest unsweetened condensed and evaporated milk supplier to Singapore, with a 58% share of total imports. Moreover, unsweetened condensed and evaporated milk imports from Thailand exceeded the figures recorded by the second-largest supplier, Australia (X tons), sevenfold. New Zealand (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume from Thailand totaled +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+9.1% per year) and New Zealand (-12.2% per year).

In value terms, Thailand ($X) constituted the largest supplier of condensed or evaporated milk (unsweetened) to Singapore, comprising 42% of total imports. The second position in the ranking was held by New Zealand ($X), with a 16% share of total imports. It was followed by Australia, with a 7% share.

From 2012 to 2021, the average annual growth rate of value from Thailand stood at +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-10.3% per year) and Australia (+6.7% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, waning by -1.9% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 37%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+5.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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