U.S.: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in the U.S.

The U.S. market for condensed or evaporated milk (unsweetened) declined rapidly to $X in 2021, reducing by -21.3% against the previous year. Overall, the total consumption indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +43.4% against 2017 indices. As a result, consumption attained the peak level of $X, and then reduced dramatically in the following year.

Production of Condensed Or Evaporated Milk (Unsweetened) in the U.S.

In value terms, unsweetened condensed and evaporated milk production contracted remarkably to $X in 2021. Over the period under review, production, however, posted a measured expansion. The pace of growth was the most pronounced in 2020 with an increase of 81%. As a result, production attained the peak level of $X, and then declined significantly in the following year.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from the U.S.

In 2021, unsweetened condensed and evaporated milk exports from the United States skyrocketed to X tons, picking up by 180% compared with the previous year's figure. Overall, exports, however, showed a relatively flat trend pattern. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, unsweetened condensed and evaporated milk exports skyrocketed to $X in 2021. Over the period under review, exports recorded moderate growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons) was the main destination for unsweetened condensed and evaporated milk exports from the United States, accounting for a 71% share of total exports. Moreover, unsweetened condensed and evaporated milk exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), sevenfold. The third position in this ranking was held by Cayman Islands (X tons), with a 7% share.

From 2012 to 2021, the average annual growth rate of volume to Mexico was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-0.3% per year) and Cayman Islands (+115.4% per year).

In value terms, Mexico ($X) emerged as the key foreign market for condensed or evaporated milk (unsweetened) exports from the United States, comprising 73% of total exports. The second position in the ranking was held by Cayman Islands ($X), with a 4.9% share of total exports. It was followed by Canada, with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico amounted to +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cayman Islands (+110.4% per year) and Canada (-2.2% per year).

Export Prices by Country

The average export price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, growing by 20% against the previous year. Overall, export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unsweetened condensed and evaporated milk export price increased by +61.6% against 2019 indices. The growth pace was the most rapid in 2020 when the average export price increased by 35% against the previous year. The export price peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into the U.S.

In 2021, imports of condensed or evaporated milk (unsweetened) into the United States soared to X tons, growing by 88% against 2020. In general, imports, however, saw a relatively flat trend pattern. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, unsweetened condensed and evaporated milk imports surged to $X in 2021. Overall, imports posted a notable increase. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Lithuania (X tons), Mexico (X tons) and the Netherlands (X tons) were the main suppliers of unsweetened condensed and evaporated milk imports to the United States, together accounting for 55% of total imports. These countries were followed by Oman, Peru, the Philippines and Italy, which together accounted for a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Oman (with a CAGR of +576.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Mexico ($X) and Lithuania ($X) appeared to be the largest unsweetened condensed and evaporated milk suppliers to the United States, together accounting for 54% of total imports. Italy, the Philippines, Peru and Oman lagged somewhat behind, together comprising a further 35%.

Oman, with a CAGR of +384.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 (unsweetened) stood at $X per ton in 2021, declining by -6.1% against the previous year. Overall, the import price, however, showed moderate growth. The growth pace was the most rapid in 2015 when the average import price increased by 114% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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