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

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

After two years of growth, the Turkish market for condensed or evaporated milk (sweetened) decreased by -17.3% to $X in 2022. Over the period under review, consumption, however, posted a prominent increase. Over the period under review, the market hit record highs at $X in 2021, and then fell remarkably in the following year.

Production of Condensed Or Evaporated Milk (Sweetened) in Turkey

In value terms, sweetened condensed and evaporated milk production contracted remarkably to $X in 2022 estimated in export price. Overall, production posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 3,899% against the previous year. As a result, production attained the peak level of $X, and then shrank rapidly in the following year.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Turkey

In 2022, shipments abroad of condensed or evaporated milk (sweetened) was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports posted a strong increase. The pace of growth was the most pronounced in 2016 with an increase of 67%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk exports skyrocketed to $X in 2022. Over the period under review, exports showed a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of 42% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Cyprus (X tons), Iraq (X tons) and Azerbaijan (X tons) were the main destinations of sweetened condensed and evaporated milk exports from Turkey, with a combined 73% share of total exports. Syrian Arab Republic, Kuwait, Georgia, Libya, Israel and South Africa lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +84.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Iraq ($X) remains the key foreign market for condensed or evaporated milk (sweetened) exports from Turkey, comprising 49% of total exports. The second position in the ranking was taken by Cyprus ($X), with a 17% share of total exports. It was followed by Kuwait, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iraq amounted to +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+37.3% per year) and Kuwait (+109.6% per year).

Export Prices by Country

The average export price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, increasing by 3.8% against the previous year. Over the period under review, the export price, however, saw a slight setback. The most prominent rate of growth was recorded in 2020 when the average export price increased by 62%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Syrian Arab Republic ($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 Israel (+17.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Turkey

In 2022, the amount of condensed or evaporated milk (sweetened) imported into Turkey surged to X tons, growing by 304% against the previous year's figure. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 309% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, sweetened condensed and evaporated milk imports surged to $X in 2022. In general, imports posted a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 1,054%. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Jordan (X tons), the Netherlands (X tons) and Lithuania (X tons) were the main suppliers of sweetened condensed and evaporated milk imports to Turkey, together comprising 99% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Jordan (with a CAGR of +101.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest sweetened condensed and evaporated milk suppliers to Turkey were Jordan ($X), the Netherlands ($X) and Lithuania ($X), together comprising 99% of total imports.

In terms of the main suppliers, Jordan, with a CAGR of +284.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average import price for condensed or evaporated milk (sweetened) amounted to $X per ton, growing by 25% against the previous year. In general, the import price, however, continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2020 an increase of 182% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 the United Arab Emirates ($X per ton), while the price for Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+91.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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