Vietnam: Market for Powdered, Evaporated And Condensed Milk 2024

Market Size for Powdered, Evaporated And Condensed Milk in Vietnam

In 2022, the Vietnamese market for powdered, evaporated and condensed milk decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Powdered, Evaporated And Condensed Milk in Vietnam

In value terms, powdered, evaporated and condensed milk production rose modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated prominent growth 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 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Powdered, Evaporated And Condensed Milk

Exports from Vietnam

In 2022, the amount of powdered, evaporated and condensed milk exported from Vietnam rose to X tons, increasing by X% against the previous year. In general, exports recorded significant growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, powdered, evaporated and condensed milk exports dropped to $X in 2022. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then fell slightly in the following year.

Exports by Country

Iraq (X tons) was the main destination for powdered, evaporated and condensed milk exports from Vietnam, accounting for a X% share of total exports. Moreover, powdered, evaporated and condensed milk exports to Iraq exceeded the volume sent to the second major destination, the Philippines (X tons), twofold. Cambodia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iraq amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Cambodia (X% per year).

In value terms, Iraq ($X) remains the key foreign market for powdered, evaporated and condensed milk exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total exports. It was followed by Cambodia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iraq amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Cambodia (X% per year).

Export Prices by Country

The average export price for powdered, evaporated and condensed milk stood at $X per ton in 2022, declining by X% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2022: its price 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, powdered, evaporated and condensed milk export price increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Trinidad and Tobago ($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 Iraq (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Powdered, Evaporated And Condensed Milk

Imports into Vietnam

In 2022, supplies from abroad of powdered, evaporated and condensed milk increased by X% 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 X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, powdered, evaporated and condensed milk imports shrank slightly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

New Zealand (X tons), the United States (X tons) and Australia (X tons) were the main suppliers of powdered, evaporated and condensed milk imports to Vietnam, with a combined X% share of total imports. Poland, Belgium, France, the Netherlands, Lithuania, Germany and Canada lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest powdered, evaporated and condensed milk suppliers to Vietnam were New Zealand ($X), the United States ($X) and Australia ($X), with a combined X% share of total imports. Belgium, France, Poland, the Netherlands, Lithuania, Germany and Canada lagged somewhat behind, together accounting for a further X%.

Belgium, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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 powdered, evaporated and condensed milk stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from New Zealand ($X per ton) and France ($X per ton), while the price for Poland ($X per ton) and Canada ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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