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

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

In 2022, the Swedish market for condensed or evaporated milk (sweetened) increased by 0.7% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption saw a noticeable reduction. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Condensed Or Evaporated Milk (Sweetened) in Sweden

In value terms, sweetened condensed and evaporated milk production rose remarkably to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2020 when the production volume increased by 55%. Sweetened condensed and evaporated milk production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Sweden

After two years of growth, overseas shipments of condensed or evaporated milk (sweetened) decreased by -12.8% to X tons in 2022. In general, exports recorded a noticeable decline. The pace of growth was the most pronounced in 2021 with an increase of 76% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk exports contracted sharply to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 118%. As a result, the exports attained the peak of $X, and then fell significantly in the following year.

Exports by Country

Norway (X tons) was the main destination for sweetened condensed and evaporated milk exports from Sweden, with a 75% share of total exports. Moreover, sweetened condensed and evaporated milk exports to Norway exceeded the volume sent to the second major destination, Lebanon (X tons), eightfold. Finland (X tons) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Norway totaled -4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (+79,236.4% per year) and Finland (+6.6% per year).

In value terms, Norway ($X) remains the key foreign market for condensed or evaporated milk (sweetened) exports from Sweden, comprising 81% of total exports. The second position in the ranking was held by Lebanon ($X), with an 8.7% share of total exports. It was followed by Finland, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Norway totaled -1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (+44,941.0% per year) and Finland (+12.8% per year).

Export Prices by Country

In 2022, the average export price for condensed or evaporated milk (sweetened) amounted to $X per ton, which is down by -47.1% against the previous year. Overall, the export price, however, continues to indicate noticeable growth. The most prominent rate of growth was recorded in 2020 an increase of 57% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then fell notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to the Czech Republic ($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 Finland (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Sweden

In 2022, imports of condensed or evaporated milk (sweetened) into Sweden contracted remarkably to X tons, with a decrease of -15.3% compared with the previous year's figure. Overall, total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.4% 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 +62.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 91%. As a result, imports reached the peak of X tons, and then declined markedly in the following year.

In value terms, sweetened condensed and evaporated milk imports contracted to $X in 2022. In general, total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +84.3% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 88%. As a result, imports attained the peak of $X, and then dropped modestly in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest sweetened condensed and evaporated milk supplier to Sweden, accounting for a 51% share of total imports. Moreover, sweetened condensed and evaporated milk imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+2.5% per year) and the Netherlands (+1.9% per year).

In value terms, Belgium ($X), Germany ($X) and the Netherlands ($X) were the largest sweetened condensed and evaporated milk suppliers to Sweden, with a combined 91% share of total imports. France and Denmark lagged somewhat behind, together comprising a further 7.7%.

In terms of the main suppliers, France, with a CAGR of +15.1%, 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, jumping by 16% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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