Global Powdered Milk Market 2024

Powdered Milk Market Size

The global powdered milk market expanded remarkably to $X in 2022, with an increase of 6.7% against the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the global market remained at a lower figure.

Powdered Milk Production

In value terms, powdered milk production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 20% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, global production growth failed to regain momentum.

New Zealand (X tons) remains the largest powdered milk producing country worldwide, comprising approx. 29% of total volume. Moreover, powdered milk production in New Zealand exceeded the figures recorded by the second-largest producer, the United States (X tons), twofold. The third position in this ranking was held by Brazil (X tons), with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume in New Zealand totaled +4.9%. In the other countries, the average annual rates were as follows: the United States (+2.2% per year) and Brazil (+1.1% per year).

Powdered Milk Exports

Exports

In 2022, approx. X tons of powdered milk were exported worldwide; increasing by 10% compared with the year before. The total export volume increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, powdered milk exports surged to $X in 2022. Overall, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +95.3% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 29% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, New Zealand (X tons) represented the major exporter of powdered milk, constituting 41% of total exports. The United States (X tons) took the second position in the ranking, distantly followed by Germany (X tons). All these countries together held approx. 18% share of total exports. The following exporters - France (X tons), the Netherlands (X tons), Ireland (X tons), Australia (X tons), Belgium (X tons), Argentina (X tons), Uruguay (X tons), Belarus (X tons) and Poland (X tons) - together made up 27% of total exports.

From 2012 to 2022, average annual rates of growth with regard to powdered milk exports from New Zealand stood at +5.1%. At the same time, Ireland (+9.8%), the United States (+6.5%), Uruguay (+5.3%), Poland (+3.5%), Belarus (+3.5%), the Netherlands (+1.8%) and Germany (+1.1%) displayed positive paces of growth. Moreover, Ireland emerged as the fastest-growing exporter exported in the world, with a CAGR of +9.8% from 2012-2022. France experienced a relatively flat trend pattern. By contrast, Argentina (-1.9%), Belgium (-2.5%) and Australia (-2.8%) illustrated a downward trend over the same period. New Zealand (+7.7 p.p.), the United States (+3.8 p.p.) and Ireland (+1.5 p.p.) significantly strengthened its position in terms of the global exports, while Argentina, Belgium and Australia saw its share reduced by -1.6%, -2% and -2.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) remains the largest powdered milk supplier worldwide, comprising 40% of global exports. The second position in the ranking was held by the United States ($X), with a 12% share of global exports. It was followed by Germany, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in New Zealand stood at +6.6%. In the other countries, the average annual rates were as follows: the United States (+8.8% per year) and Germany (+3.4% per year).

Export Prices by Country

In 2022, the average powdered milk export price amounted to $X per ton, surging by 16% against the previous year. In general, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk export price increased by +60.0% against 2016 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by 23% against the previous year. The global export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Australia ($X per ton) and the Netherlands ($X per ton), while Belgium ($X per ton) and Belarus ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+3.9%), while the other global leaders experienced more modest paces of growth.

Powdered Milk Imports

Imports

In 2022, after two years of decline, there was growth in overseas purchases of powdered milk, when their volume increased by 1.1% to X tons. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 11%. Global imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, powdered milk imports expanded sharply to $X in 2022. Overall, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.9% against 2016 indices. The growth pace was the most rapid in 2014 with an increase of 19%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of global imports remained at a lower figure.

Imports by Country

In 2022, China (X tons), distantly followed by Algeria (X tons) and Indonesia (X tons) represented the largest importers of powdered milk, together making up 29% of total imports. The following importers - Mexico (X tons), the Netherlands (X tons), the Philippines (X tons), the United Arab Emirates (X tons), Malaysia (X tons), Belgium (X tons), Saudi Arabia (X tons), Bangladesh (X tons), Vietnam (X tons) and Thailand (X tons) - together made up 28% of total imports.

From 2012 to 2022, average annual rates of growth with regard to powdered milk imports into China stood at +6.3%. At the same time, Bangladesh (+6.3%), Algeria (+5.4%), Indonesia (+5.1%), the Philippines (+3.9%), Thailand (+3.3%), the Netherlands (+2.7%), Vietnam (+2.1%) and Mexico (+1.6%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in the world, with a CAGR of +6.3% from 2012-2022. The United Arab Emirates, Belgium and Malaysia experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-1.6%) illustrated a downward trend over the same period. China (+5.3 p.p.) and Algeria (+2.1 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported powdered milk worldwide, comprising 19% of global imports. The second position in the ranking was held by Algeria ($X), with a 6.4% share of global imports. It was followed by Indonesia, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +8.9%. In the other countries, the average annual rates were as follows: Algeria (+3.6% per year) and Indonesia (+7.1% per year).

Import Prices by Country

In 2022, the average powdered milk import price amounted to $X per ton, with an increase of 10% 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 2013 an increase of 17% against the previous year. Global import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in China ($X per ton) and Thailand ($X per ton), while Vietnam ($X per ton) and Bangladesh ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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