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

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

In 2022, the Slovak market for condensed or evaporated milk (sweetened) increased by 9.1% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption, however, saw a deep setback. Sweetened condensed and evaporated milk consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Condensed Or Evaporated Milk (Sweetened) in Slovakia

In value terms, sweetened condensed and evaporated milk production expanded to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 25%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Slovakia

In 2022, overseas shipments of condensed or evaporated milk (sweetened) were finally on the rise to reach X tons after three years of decline. In general, total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sweetened condensed and evaporated milk exports soared to $X in 2022. Over the period under review, total exports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Czech Republic (X tons) was the main destination for sweetened condensed and evaporated milk exports from Slovakia, with a 82% share of total exports. Moreover, sweetened condensed and evaporated milk exports to the Czech Republic exceeded the volume sent to the second major destination, Hungary (X tons), tenfold. Italy (X tons) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Czech Republic amounted to +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+2.8% per year) and Italy (-8.8% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for condensed or evaporated milk (sweetened) exports from Slovakia, comprising 60% of total exports. The second position in the ranking was taken by Hungary ($X), with a 22% share of total exports. It was followed by Italy, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Czech Republic totaled +8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+5.9% per year) and Italy (-6.4% per year).

Export Prices by Country

The average export price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, waning by -12.2% against the previous year. In general, the export price continues to indicate a slight slump. The most prominent rate of growth was recorded in 2014 an increase of 25% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to the Czech Republic ($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 Bulgaria (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Slovakia

In 2022, after two years of growth, there was decline in overseas purchases of condensed or evaporated milk (sweetened), when their volume decreased by -0.6% to X tons. The total import volume increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 63%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk imports totaled $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 23% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the Czech Republic (X tons) constituted the largest supplier of sweetened condensed and evaporated milk to Slovakia, with a 60% share of total imports. Moreover, sweetened condensed and evaporated milk imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The Netherlands (X tons) ranked third in terms of total imports with a 6% share.

From 2012 to 2022, the average annual growth rate of volume from the Czech Republic amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+18.3% per year) and the Netherlands (+14.5% per year).

In value terms, the Czech Republic ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to Slovakia, comprising 68% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by the Netherlands, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value from the Czech Republic amounted to +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+14.8% per year) and the Netherlands (+14.5% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, surging by 2.8% against the previous year. Overall, the import price, however, continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2018 an increase of 10%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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