Australia: Market for Powdered, Condensed Or Evaporated Milk 2023

Market Size for Powdered, Condensed Or Evaporated Milk in Australia

In 2022, the Australian market for powdered, condensed or evaporated milk decreased by -3.6% to $X, falling for the third year in a row after two years of growth. Overall, consumption continues to indicate a slight downturn. Powdered, condensed or evaporated milk consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Powdered, Condensed Or Evaporated Milk in Australia

In value terms, powdered, condensed or evaporated milk production fell modestly to $X in 2022 estimated in export price. Overall, production saw a pronounced decrease. The pace of growth was the most pronounced in 2013 with an increase of 12% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Powdered, Condensed Or Evaporated Milk

Exports from Australia

In 2022, overseas shipments of powdered, condensed or evaporated milk increased by 1.4% to X tons, rising for the second consecutive year after five years of decline. In general, exports, however, showed a slight descent. The pace of growth appeared the most rapid in 2021 when exports increased by 21%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, powdered, condensed or evaporated milk exports soared to $X in 2022. Overall, total exports indicated a modest expansion from 2012 to 2022: its value 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, exports increased by +79.5% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 46% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

China (X tons) was the main destination for powdered, condensed or evaporated milk exports from Australia, accounting for a 37% share of total exports. Moreover, powdered, condensed or evaporated milk exports to China exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. Malaysia (X tons) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled +16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+3.0% per year) and Malaysia (-2.1% per year).

In value terms, China ($X) remains the key foreign market for powdered, condensed or evaporated milk exports from Australia, comprising 48% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 15% share of total exports. It was followed by the United Arab Emirates, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+6.0% per year) and the United Arab Emirates (+6.7% per year).

Export Prices by Country

The average export price for powdered, condensed or evaporated milk stood at $X per ton in 2022, surging by 16% against the previous year. Over the period under review, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered, condensed or evaporated milk export price increased by +77.5% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of 25% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to New Zealand ($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 China (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Powdered, Condensed Or Evaporated Milk

Imports into Australia

In 2022, powdered, condensed or evaporated milk imports into Australia expanded significantly to X tons, picking up by 9.9% on the previous year. Overall, imports posted prominent growth. The pace of growth appeared the most rapid in 2017 when imports increased by 33%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, powdered, condensed or evaporated milk imports skyrocketed to $X in 2022. Over the period under review, imports recorded strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 42% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of powdered, condensed or evaporated milk to Australia, accounting for a 67% share of total imports. Moreover, powdered, condensed or evaporated milk imports from New Zealand exceeded the figures recorded by the second-largest supplier, Germany (X tons), ninefold. The third position in this ranking was taken by Spain (X tons), with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume from New Zealand amounted to +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+24.2% per year) and Spain (+81.2% per year).

In value terms, New Zealand ($X) constituted the largest supplier of powdered, condensed or evaporated milk to Australia, comprising 72% of total imports. The second position in the ranking was taken by Germany ($X), with a 7.5% share of total imports. It was followed by Spain, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value from New Zealand amounted to +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+36.8% per year) and Spain (+70.5% per year).

Import Prices by Country

In 2022, the average import price for powdered, condensed or evaporated milk amounted to $X per ton, growing by 7.2% against the previous year. Over the last decade, it increased at an average annual rate of +4.6%. The most prominent rate of growth was recorded in 2013 an increase of 53%. Over the period under review, average import prices hit record highs at $X per ton in 2018; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+35.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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