Southern Asia: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in Southern Asia

In 2021, the South Asian market for condensed or evaporated milk (unsweetened) was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Condensed Or Evaporated Milk (Unsweetened) in Southern Asia

In value terms, unsweetened condensed and evaporated milk production surged to $X in 2021 estimated in export price. In general, production showed a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 425%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports in Southern Asia

In 2021, shipments abroad of condensed or evaporated milk (unsweetened) decreased by -18.9% to X tons, falling for the fifth consecutive year after five years of growth. In general, exports faced a abrupt decrease. The pace of growth appeared the most rapid in 2015 with an increase of 600%. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, unsweetened condensed and evaporated milk exports declined remarkably to $X in 2021. Over the period under review, exports saw a abrupt slump. The pace of growth was the most pronounced in 2015 when exports increased by 313%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Pakistan (X tons) was the main exporter of condensed or evaporated milk (unsweetened), achieving 79% of total exports. It was distantly followed by India (X tons), comprising a 20% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to unsweetened condensed and evaporated milk exports from Pakistan stood at -20.4%. At the same time, India (+4.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +4.3% from 2012-2021. India (+18 p.p.) significantly strengthened its position in terms of the total exports, while Pakistan saw its share reduced by -9.3% from 2012 to 2021, respectively.

In value terms, the largest unsweetened condensed and evaporated milk supplying countries in Southern Asia were India ($X) and Pakistan ($X).

India, with a CAGR of +12.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, falling by -3.4% against the previous year. In general, the export price, however, saw perceptible growth. The pace of growth appeared the most rapid in 2020 when the export price increased by 105%. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+8.0%).

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports in Southern Asia

In 2021, supplies from abroad of condensed or evaporated milk (unsweetened) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, faced a deep downturn. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, unsweetened condensed and evaporated milk imports skyrocketed to $X in 2021. In general, imports, however, faced a abrupt contraction. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Nepal (X tons) was the major importer of condensed or evaporated milk (unsweetened), committing 44% of total imports. Maldives (X tons) ranks second in terms of the total imports with a 27% share, followed by Pakistan (23%). Bhutan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bhutan (with a CAGR of +50.1%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest unsweetened condensed and evaporated milk importing markets in Southern Asia were Nepal ($X), Maldives ($X) and Pakistan ($X), with a combined 92% share of total imports. Bhutan lagged somewhat behind, comprising a further 4%.

Bhutan, with a CAGR of +56.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, waning by -4.4% against the previous year. Import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unsweetened condensed and evaporated milk import price increased by +54.6% against 2018 indices. The pace of growth was the most pronounced in 2020 an increase of 50% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bhutan ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Maldives (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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