Vietnam: Market for Condensed Or Evaporated Milk (Unsweetened) 2025

Market Size for Condensed Or Evaporated Milk (Unsweetened) in Vietnam

The Vietnamese market for condensed or evaporated milk (unsweetened) soared to $X in 2021, increasing by 4,677% against the previous year. Over the period under review, consumption enjoyed a pronounced expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Condensed Or Evaporated Milk (Unsweetened) in Vietnam

In value terms, unsweetened condensed and evaporated milk production stood at $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 13% against the previous year. Unsweetened condensed and evaporated milk production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Vietnam

In 2021, after two years of growth, there was significant decline in overseas shipments of condensed or evaporated milk (unsweetened), when their volume decreased by -48.8% to X tons. Over the period under review, exports, however, posted a significant expansion. The growth pace was the most rapid in 2019 when exports increased by 3,699%. Over the period under review, the exports hit record highs at X tons in 2020, and then declined significantly in the following year.

In value terms, unsweetened condensed and evaporated milk exports shrank markedly to $X in 2021. Overall, exports, however, recorded significant growth. The growth pace was the most rapid in 2019 with an increase of 2,386% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then fell sharply in the following year.

Exports by Country

The United Arab Emirates (X tons), Afghanistan (X tons) and the Philippines (X tons) were the main destinations of unsweetened condensed and evaporated milk exports from Vietnam, together comprising 90% of total exports. Saudi Arabia lagged somewhat behind, accounting for a further 8%.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +416.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for unsweetened condensed and evaporated milk exported from Vietnam were the United Arab Emirates ($X), Afghanistan ($X) and the Philippines ($X), with a combined 86% share of total exports. Saudi Arabia lagged somewhat behind, accounting for a further 6.9%.

Among the main countries of destination, Saudi Arabia, with a CAGR of +386.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, with an increase of 57% against the previous year. Overall, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average export price increased by 59% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were the Philippines ($X per ton) and the United Arab Emirates ($X per ton), while the average price for exports to Afghanistan ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Vietnam

Unsweetened condensed and evaporated milk imports into Vietnam surged to X tons in 2021, growing by 2,182% compared with the previous year's figure. Overall, imports enjoyed measured growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

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

Imports by Country

In 2021, the Philippines (X tons) constituted the largest supplier of unsweetened condensed and evaporated milk to Vietnam, with a 64% share of total imports. Moreover, unsweetened condensed and evaporated milk imports from the Philippines exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. The third position in this ranking was taken by France (X tons), with a 3.1% share.

From 2012 to 2021, the average annual growth rate of volume from the Philippines stood at +118.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+59.6% per year) and France (+3.8% per year).

In value terms, the largest unsweetened condensed and evaporated milk suppliers to Vietnam were Australia ($X), the Philippines ($X) and France ($X), with a combined 95% share of total imports.

In terms of the main suppliers, Australia, with a CAGR of +83.5%, saw 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

In 2021, the average import price for condensed or evaporated milk (unsweetened) amounted to $X per ton, declining by -26.7% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 an increase of 40%. Over the period under review, average import prices reached the peak figure at $X per ton in 2020, and then reduced remarkably in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+30.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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