Slovakia: Powdered Milk Market 2024

Powdered Milk Market Size in Slovakia

The Slovak powdered milk market dropped to $X in 2022, waning by -4% against the previous year. In general, consumption, however, continues to indicate a measured expansion. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Powdered Milk Production in Slovakia

In value terms, powdered milk production fell slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by 95%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Powdered Milk Exports

Exports from Slovakia

In 2022, shipments abroad of powdered milk increased by 30% to X tons, rising for the fifth consecutive year after four years of decline. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 84%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, powdered milk exports surged to $X in 2022. Overall, exports posted measured growth. The growth pace was the most rapid in 2013 when exports increased by 80% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Poland (X tons) was the main destination for powdered milk exports from Slovakia, accounting for a 67% share of total exports. Moreover, powdered milk exports to Poland exceeded the volume sent to the second major destination, the Czech Republic (X tons), sixfold. Bulgaria (X tons) ranked third in terms of total exports with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Poland stood at +22.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-8.7% per year) and Bulgaria (-1.0% per year).

In value terms, Poland ($X) remains the key foreign market for powdered milk exports from Slovakia, comprising 57% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a 19% share of total exports. It was followed by Bulgaria, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Poland stood at +26.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+1.5% per year) and Bulgaria (+12.5% per year).

Export Prices by Country

In 2022, the average powdered milk export price amounted to $X per ton, rising by 17% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.6% 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 +92.5% against 2016 indices. The most prominent rate of growth was recorded in 2014 an increase of 38% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to the Netherlands ($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 Hungary (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.

Powdered Milk Imports

Imports into Slovakia

Powdered milk imports into Slovakia rose markedly to X tons in 2022, picking up by 5.5% against the previous year's figure. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 35% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, powdered milk imports soared to $X in 2022. In general, total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.6% against 2020 indices. The pace of growth was the most pronounced in 2017 when imports increased by 57% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X tons), the Czech Republic (X tons) and Denmark (X tons) were the main suppliers of powdered milk imports to Slovakia, with a combined 88% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +6.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Germany ($X) and Denmark ($X) appeared to be the largest powdered milk suppliers to Slovakia, together accounting for 79% of total imports.

Among the main suppliers, Denmark, with a CAGR of +10.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average powdered milk import price amounted to $X per ton, surging by 9.5% against the previous year. Overall, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk import price increased by +53.3% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 35% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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