Report Vietnam - Evaporated and Condensed Milk - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Jun 1, 2025

Vietnam - Evaporated and Condensed Milk - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Market for Evaporated And Condensed Milk 2025

Market Size for Evaporated And Condensed Milk in Vietnam

In 2022, after two years of decline, there was significant growth in the Vietnamese evaporated and condensed milk market, when its value increased by 5.3% to $X. In general, consumption enjoyed strong growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Evaporated And Condensed Milk in Vietnam

In value terms, evaporated and condensed milk production totaled $X in 2022 estimated in export price. Over the period under review, production saw a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of 87% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Evaporated And Condensed Milk

Exports from Vietnam

In 2022, the amount of evaporated and condensed milk exported from Vietnam rose modestly to X tons, growing by 4.1% compared with 2021. Overall, exports showed a resilient increase. The growth pace was the most rapid in 2013 when exports increased by 70%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, evaporated and condensed milk exports amounted to $X in 2022. Over the period under review, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 102% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The Philippines (X tons) was the main destination for evaporated and condensed milk exports from Vietnam, with a 35% share of total exports. Moreover, evaporated and condensed milk exports to the Philippines exceeded the volume sent to the second major destination, the United States (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to the Philippines totaled +24.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+95.4% per year) and Taiwan (Chinese) (+35.9% per year).

In value terms, the Philippines ($X) remains the key foreign market for evaporated and condensed milk exports from Vietnam, comprising 42% of total exports. The second position in the ranking was held by the United States ($X), with a 14% share of total exports. It was followed by Taiwan (Chinese), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Philippines stood at +33.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+123.0% per year) and Taiwan (Chinese) (+45.1% per year).

Export Prices by Country

In 2022, the average evaporated and condensed milk export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price, however, continues to indicate a strong expansion. The growth pace was the most rapid in 2019 when the average export price increased by 49%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Angola ($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 the United States (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Evaporated And Condensed Milk

Imports into Vietnam

After three years of decline, overseas purchases of evaporated and condensed milk increased by 19% to X tons in 2022. Over the period under review, imports recorded a prominent expansion. The growth pace was the most rapid in 2014 with an increase of 121%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk imports surged to $X in 2022. Overall, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 162%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Malaysia (X tons), Cambodia (X tons) and New Zealand (X tons) were the main suppliers of evaporated and condensed milk imports to Vietnam, with a combined 76% share of total imports.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +51.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of evaporated and condensed milk to Vietnam, comprising 42% of total imports. The second position in the ranking was taken by Cambodia ($X), with a 21% share of total imports. It was followed by Australia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia amounted to +46.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Cambodia (+32.5% per year) and Australia (+49.7% per year).

Import Prices by Country

The average evaporated and condensed milk import price stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, the import price recorded a mild slump. The growth pace was the most rapid in 2014 an increase of 19%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Australia ($X per ton), while the price for New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The United States remains the largest evaporated and condensed milk consuming country worldwide, comprising approx. 19% of total volume. Moreover, evaporated and condensed milk consumption in the United States exceeded the figures recorded by the second-largest consumer, Peru, twofold. The third position in this ranking was occupied by Malaysia, with a 4.8% share.
The countries with the highest volumes of evaporated and condensed milk production in 2020 were the United States, Peru and Germany, with a combined 38% share of global production. These countries were followed by Malaysia, the Netherlands, Saudi Arabia, Belarus, Mexico, Singapore, Russia, the UK, France and Belgium, which together accounted for a further 40%.
In value terms, Malaysia constituted the largest supplier of evaporated and condensed milk to Vietnam, comprising 64% of total imports. The second position in the ranking was occupied by Indonesia, with a 22% share of total imports. It was followed by Poland, with a 7.6% share.
In value terms, the Philippines remains the key foreign market for evaporated and condensed milk exports from Vietnam, comprising 46% of total exports. The second position in the ranking was occupied by the United States, with a 17% share of total exports. It was followed by Taiwan Chinese), with a 9.7% share.
The average evaporated and condensed milk export price stood at $1,869 per ton in 2020, rising by 13% against the previous year.
In 2020, the average evaporated and condensed milk import price amounted to $1,997 per ton, with an increase of 8.2% against the previous year.

This report provides an in-depth analysis of the market for evaporated and condensed milk in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 889 - Whole Milk, Condensed
  • FCL 894 - Whole Milk, Evaporated
  • FCL 895 - Skim Milk, Evaporated
  • FCL 896 - Skim Milk, Condensed

Country coverage:

  • Vietnam

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Vietnam
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035
  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012-2024
    6. Imports, In Value Terms, By Country, 2012-2024
    7. Import Prices, By Country, 2012-2024
    8. Exports, In Physical Terms, By Country, 2012-2024
    9. Exports, In Value Terms, By Country, 2012-2024
    10. Exports Prices, By Country, 2012-2024
  12. LIST OF FIGURES

    1. Market Volume, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply Vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply Vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, by Product
    11. Average Per Capita Consumption, by Product
    12. Exports and Growth, by Product
    13. Export Prices and Growth, by Product
    14. Production Volume and Growth
    15. Yield and Growth
    16. Exports and Growth
    17. Export Prices and Growth
    18. Market Size and Growth
    19. Per Capita Consumption
    20. Imports and Growth
    21. Import Prices
    22. Production, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Production, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Producing Animals: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Yield: Historical Data (2012–2024) and Forecast (2025–2035)
    26. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    27. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    28. Imports, in Physical Terms, by Country, 2024
    29. Imports, in Physical Terms, by Country, 2012-2024
    30. Imports, in Value Terms, by Country, 2012-2024
    31. Import Prices, by Country, 2012-2024
    32. Exports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    33. Exports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    34. Exports, in Physical Terms, by Country, 2024
    35. Exports, in Physical Terms, by Country, 2012-2024
    36. Exports, in Value Terms, by Country, 2012-2024
    37. Export Prices, by Country, 2012-2024

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