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

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

In 2022, the Spanish market for condensed or evaporated milk (sweetened) increased by 34% to $X, rising for the third year in a row after two years of decline. In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +63.7% against 2019 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Production of Condensed Or Evaporated Milk (Sweetened) in Spain

In value terms, sweetened condensed and evaporated milk production surged to $X in 2022 estimated in export price. Overall, production continues to indicate prominent growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 20% against the previous year. Over the period under review, production hit record highs in 2022 and is likely to see gradual growth in years to come.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Spain

In 2022, shipments abroad of condensed or evaporated milk (sweetened) decreased by -22.8% to X tons, falling for the second year in a row after nine years of growth. Overall, exports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2018 when exports increased by 44%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, sweetened condensed and evaporated milk exports fell to $X in 2022. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when exports increased by 39%. Over the period under review, the exports hit record highs at $X in 2021, and then shrank in the following year.

Exports by Country

France (X tons), Australia (X tons) and Saudi Arabia (X tons) were the main destinations of sweetened condensed and evaporated milk exports from Spain, with a combined 44% share of total exports. Portugal, Italy, the UK, Kuwait, New Zealand, the United Arab Emirates, Germany, the Netherlands, Taiwan (Chinese) and Afghanistan lagged somewhat behind, together comprising a further 40%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +172.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sweetened condensed and evaporated milk exported from Spain were France ($X), Australia ($X) and Saudi Arabia ($X), together accounting for 42% of total exports. Portugal, Italy, the UK, Kuwait, New Zealand, Germany, the Netherlands, the United Arab Emirates, Taiwan (Chinese) and Afghanistan lagged somewhat behind, together comprising a further 41%.

The United Arab Emirates, with a CAGR of +157.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, increasing by 12% against the previous year. Over the period under review, the export price, however, continues to indicate a mild shrinkage. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Afghanistan ($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 Kuwait (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Spain

In 2022, purchases abroad of condensed or evaporated milk (sweetened) increased by 5.6% to X tons, rising for the second consecutive year after two years of decline. Overall, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +2.7% 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 +56.4% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 48%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, sweetened condensed and evaporated milk imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Denmark (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of sweetened condensed and evaporated milk imports to Spain, together accounting for 63% of total imports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +92.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sweetened condensed and evaporated milk suppliers to Spain were Denmark ($X), Belgium ($X) and Germany ($X), with a combined 76% share of total imports.

Among the main suppliers, Denmark, with a CAGR of +107.2%, 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

The average import price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, surging by 21% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+7.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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