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

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

In 2022, after six years of growth, there was significant decline in the Chinese market for condensed or evaporated milk (sweetened), when its value decreased by -14.2% to $X. Over the period under review, consumption, however, posted a strong expansion. Sweetened condensed and evaporated milk consumption peaked at $X in 2021, and then reduced in the following year.

Production of Condensed Or Evaporated Milk (Sweetened) in China

In value terms, sweetened condensed and evaporated milk production amounted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 39%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from China

In 2022, overseas shipments of condensed or evaporated milk (sweetened) were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, saw a mild downturn. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk exports surged to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 40% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) and Canada (X tons) were the main destinations of sweetened condensed and evaporated milk exports from China.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +34.9%).

In value terms, Canada ($X) and the United States ($X) constituted the largest markets for sweetened condensed and evaporated milk exported from China worldwide.

Among the main countries of destination, the United States, with a CAGR of +31.3%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average export price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, dropping by -7.8% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 27% against the previous year. The 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 for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+1.8%), while the prices for the other major destinations experienced a decline.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into China

In 2022, approx. X tons of condensed or evaporated milk (sweetened) were imported into China; shrinking by -29.9% on the previous year's figure. Overall, imports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 318%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk imports fell dramatically to $X in 2022. Over the period under review, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 332%. Imports peaked at $X in 2021, and then fell remarkably in the following year.

Imports by Country

In 2022, Australia (X tons) constituted the largest sweetened condensed and evaporated milk supplier to China, accounting for a 44% share of total imports. Moreover, sweetened condensed and evaporated milk imports from Australia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia amounted to +69.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+39.4% per year) and Germany (+97.2% per year).

In value terms, the largest sweetened condensed and evaporated milk suppliers to China were Australia ($X), Belgium ($X) and the Netherlands ($X), with a combined 76% share of total imports.

Among the main suppliers, Belgium, with a CAGR of +155.7%, saw the highest rates of growth with regard to 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 2022, the average import price for condensed or evaporated milk (sweetened) amounted to $X per ton, increasing by 7.2% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 29%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+15.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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