United Kingdom: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in the UK

The UK evaporated and condensed milk market was finally on the rise to reach $X in 2022, after three years of decline. Overall, consumption, however, saw a perceptible reduction. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Evaporated And Condensed Milk in the UK

In value terms, evaporated and condensed milk production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2016 with an increase of 27%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Evaporated And Condensed Milk

Exports from the UK

In 2022, the amount of evaporated and condensed milk exported from the UK expanded rapidly to X tons, picking up by 13% against the previous year. In general, exports continue to indicate resilient growth. The growth pace was the most rapid in 2019 when exports increased by 263% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, evaporated and condensed milk exports surged to $X in 2022. Over the period under review, exports recorded buoyant growth. The growth pace was the most rapid in 2019 when exports increased by 137% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The Netherlands (X tons) was the main destination for evaporated and condensed milk exports from the UK, with a 56% share of total exports. Moreover, evaporated and condensed milk exports to the Netherlands exceeded the volume sent to the second major destination, Poland (X tons), fourfold. The third position in this ranking was held by Ireland (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands amounted to +70.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+265.5% per year) and Ireland (+0.0% per year).

In value terms, the Netherlands ($X) remains the key foreign market for evaporated and condensed milk exports from the UK, comprising 42% of total exports. The second position in the ranking was held by Ireland ($X), with a 12% share of total exports. It was followed by Poland, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands totaled +65.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (-7.7% per year) and Poland (+230.3% per year).

Export Prices by Country

In 2022, the average evaporated and condensed milk export price amounted to $X per ton, growing by 25% against the previous year. Overall, the export price, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2017 an increase of 38%. Over the period under review, the average export prices hit record highs 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Poland ($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 Belgium (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Evaporated And Condensed Milk

Imports into the UK

In 2022, purchases abroad of evaporated and condensed milk increased by 25% to X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk imports surged to $X in 2022. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Belgium (X tons) were the main suppliers of evaporated and condensed milk imports to the UK, with a combined 87% share of total imports. Spain, Poland and Ireland lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +31.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest evaporated and condensed milk suppliers to the UK were Belgium ($X), the Netherlands ($X) and Germany ($X), together accounting for 87% of total imports. Spain, Poland and Ireland lagged somewhat behind, together comprising a further 10%.

Among the main suppliers, Poland, with a CAGR of +25.5%, recorded 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 evaporated and condensed milk import price stood at $X per ton in 2022, jumping by 25% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The import price peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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