U.S.: Milk Market 2024

Milk Market Size in the U.S.

The U.S. milk market expanded sharply to $X in 2022, rising by X% against the previous year. Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Milk Production in the U.S.

In value terms, milk production expanded notably to $X in 2022. In general, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Milk Exports

Exports from the U.S.

In 2022, milk exports from the United States stood at X tons, with an increase of X% on 2021 figures. In general, total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, milk exports expanded modestly to $X in 2022. Over the period under review, exports posted a resilient increase. The pace of growth was the most pronounced in 2013 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Taiwan (Chinese) (X tons), Canada (X tons) and the Dominican Republic (X tons) were the main destinations of milk exports from the United States, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Canada ($X) and Mexico ($X) were the largest markets for milk exported from the United States worldwide, together accounting for X% of total exports.

Taiwan (Chinese), with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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 milk export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Overall, the export price, however, saw a resilient increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then declined slightly in the following year.

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 Hong Kong SAR ($X per ton), while the average price for exports to the Dominican Republic ($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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Milk Imports

Imports into the U.S.

In 2022, overseas purchases of milk decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, milk imports dropped dramatically to $X in 2022. Overall, imports, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then reduced dramatically in the following year.

Imports by Country

Mexico (X tons), Canada (X tons) and Poland (X tons) were the main suppliers of milk imports to the United States, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Canada ($X) constituted the largest supplier of milk to the United States, comprising X% of total imports. The second position in the ranking was held by Mexico ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Canada stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Poland (X% per year).

Import Prices by Country

The average milk import price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the import price, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2020 when the average import price increased by X%. The import price peaked at $X per ton in 2021, and then fell dramatically in the following year.

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

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

Source: IndexBox Platform

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