Australia: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in Australia

In 2022, the Australian market for condensed or evaporated milk (sweetened) increased by 57% to $X, rising for the fifth year in a row after two years of decline. In general, consumption enjoyed a significant increase. Sweetened condensed and evaporated milk consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Condensed Or Evaporated Milk (Sweetened) in Australia

In value terms, sweetened condensed and evaporated milk production totaled $X in 2022 estimated in export price. In general, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 -1.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 44% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Australia

In 2022, approx. X tons of condensed or evaporated milk (sweetened) were exported from Australia; falling by -10% against the previous year. Over the period under review, exports, however, posted buoyant growth. The pace of growth was the most pronounced in 2016 when exports increased by 39% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, sweetened condensed and evaporated milk exports reduced to $X in 2022. Overall, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by +0.6% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 39%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), New Zealand (X tons) and Japan (X tons) were the main destinations of sweetened condensed and evaporated milk exports from Australia, together accounting for 70% of total exports. Vietnam, Singapore, Malaysia, Vanuatu, Hong Kong SAR, South Korea, Papua New Guinea and Myanmar lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +42.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sweetened condensed and evaporated milk exported from Australia were China ($X), Japan ($X) and New Zealand ($X), with a combined 66% share of total exports. Vietnam, Singapore, South Korea, Malaysia, Hong Kong SAR, Vanuatu, Papua New Guinea and Myanmar lagged somewhat behind, together accounting for a further 29%.

In terms of the main countries of destination, Vietnam, with a CAGR of +40.9%, 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

In 2022, the average export price for condensed or evaporated milk (sweetened) amounted to $X per ton, surging by 1.7% against the previous year. Over the period under review, the export price, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2014 an increase of 5.9%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Myanmar ($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 South Korea (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Australia

In 2022, supplies from abroad of condensed or evaporated milk (sweetened) increased by 14% to X tons, rising for the fourth year in a row after three years of decline. Over the period under review, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 139% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, sweetened condensed and evaporated milk imports surged to $X in 2022. Overall, imports enjoyed a buoyant increase. The pace of growth was the most pronounced in 2020 when imports increased by 139%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of sweetened condensed and evaporated milk to Australia, with a 49% share of total imports. Moreover, sweetened condensed and evaporated milk imports from Spain exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain stood at +47.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+74.3% per year) and the Netherlands (+9.9% per year).

In value terms, Spain ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to Australia, comprising 49% of total imports. The second position in the ranking was taken by Lithuania ($X), with a 19% share of total imports. It was followed by the Netherlands, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain amounted to +65.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+86.9% per year) and the Netherlands (+11.4% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, increasing by 12% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 57% against the previous year. Over the period under review, average import prices hit record highs 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 New Zealand ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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