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

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

In 2021, the Slovak market for condensed or evaporated milk (unsweetened) decreased by -6.1% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +62.4% against 2017 indices. Unsweetened condensed and evaporated milk consumption peaked at $X in 2020, and then fell in the following year.

Production of Condensed Or Evaporated Milk (Unsweetened) in Slovakia

In value terms, unsweetened condensed and evaporated milk production fell rapidly to $X in 2021 estimated in export price. In general, production showed a moderate increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 324% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then declined rapidly in the following year.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Slovakia

In 2021, approx. X tons of condensed or evaporated milk (unsweetened) were exported from Slovakia; with an increase of 88% compared with the previous year's figure. Over the period under review, exports, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2013 with an increase of 681%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, unsweetened condensed and evaporated milk exports soared to $X in 2021. In general, exports, however, faced a abrupt contraction. The pace of growth was the most pronounced in 2013 when exports increased by 696%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Austria (X tons), the Czech Republic (X tons) and Hungary (X tons) were the main destinations of unsweetened condensed and evaporated milk exports from Slovakia, with a combined 90% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +138.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), the Czech Republic ($X) and Hungary ($X) constituted the largest markets for unsweetened condensed and evaporated milk exported from Slovakia worldwide, together accounting for 87% of total exports.

In terms of the main countries of destination, Austria, with a CAGR of +130.1%, recorded the highest rates of growth with regard to the value of exports, 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, reducing by -23.5% against the previous year. Over the period under review, the export price, however, posted a measured expansion. The pace of growth was the most pronounced in 2018 an increase of 244% against the previous year. The export price peaked at $X per ton in 2020, and then shrank remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Hungary ($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 the UK (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Slovakia

In 2021, imports of condensed or evaporated milk (unsweetened) into Slovakia expanded modestly to X tons, surging by 4% on the previous year. In general, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.2% against 2015 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 48% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, unsweetened condensed and evaporated milk imports surged to $X in 2021. Overall, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +68.0% against 2016 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 26% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

Germany (X tons), Austria (X tons) and the Czech Republic (X tons) were the main suppliers of unsweetened condensed and evaporated milk imports to Slovakia, with a combined 99% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +14.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest unsweetened condensed and evaporated milk suppliers to Slovakia were Austria ($X), Germany ($X) and the Czech Republic ($X), with a combined 99% share of total imports.

Germany, with a CAGR of +15.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for condensed or evaporated milk (unsweetened) amounted to $X per ton, surging by 16% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by 44%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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 the Czech Republic ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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