Southern Asia: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Southern Asia

The South Asian evaporated and condensed milk market expanded rapidly to $X in 2022, with an increase of 6.4% against the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.8% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Evaporated And Condensed Milk in Southern Asia

In value terms, evaporated and condensed milk production soared to $X in 2022 estimated in export price. In general, production, however, recorded prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 144%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Sri Lanka (X tons), Pakistan (X tons) and India (X tons), together comprising 99.9% of total production.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +8.7%), while production for the other leaders experienced more modest paces of growth.

Exports of Evaporated And Condensed Milk

Exports in Southern Asia

In 2022, the amount of evaporated and condensed milk exported in Southern Asia fell to X tons, which is down by -13.5% on the previous year's figure. Over the period under review, exports, however, recorded a moderate increase. The pace of growth appeared the most rapid in 2015 with an increase of 387% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, evaporated and condensed milk exports declined dramatically to $X in 2022. In general, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 149%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sri Lanka was the main exporting country with an export of around X tons, which resulted at 78% of total exports. It was distantly followed by Pakistan (X tons) and India (X tons), together comprising a 21% share of total exports.

Sri Lanka was also the fastest-growing in terms of the evaporated and condensed milk exports, with a CAGR of +23.8% from 2012 to 2022. At the same time, India (+3.2%) displayed positive paces of growth. By contrast, Pakistan (-13.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sri Lanka increased by +65 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sri Lanka ($X) remains the largest evaporated and condensed milk supplier in Southern Asia, comprising 70% of total exports. The second position in the ranking was taken by India ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sri Lanka stood at +27.7%. The remaining exporting countries recorded the following average annual rates of exports growth: India (+11.4% per year) and Pakistan (-11.9% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, which is down by -10.9% against the previous year. Overall, the export price, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when the export price increased by 266% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.9%), while the other leaders experienced more modest paces of growth.

Imports of Evaporated And Condensed Milk

Imports in Southern Asia

In 2022, approx. X tons of evaporated and condensed milk were imported in Southern Asia; falling by -3.3% on the previous year. Overall, imports continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2017 with an increase of 48% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, evaporated and condensed milk imports fell to $X in 2022. Over the period under review, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 55%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Afghanistan (X tons) and Maldives (X tons) represented the largest importers of evaporated and condensed milk in Southern Asia, together amounting to near 72% of total imports. Sri Lanka (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (6.4%). Nepal (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Afghanistan (with a CAGR of +15.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Afghanistan ($X), Maldives ($X) and Pakistan ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 91% of total imports.

Among the main importing countries, Afghanistan, with a CAGR of +17.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, with a decrease of -10% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 16%. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Afghanistan (+1.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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