China: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in China

In 2022, the Chinese evaporated and condensed milk market decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Evaporated And Condensed Milk in China

In value terms, evaporated and condensed milk production expanded sharply to $X in 2022 estimated in export price. In general, production, however, continues to indicate a mild decrease. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Evaporated And Condensed Milk

Exports from China

In 2022, shipments abroad of evaporated and condensed milk was finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, recorded a perceptible descent. The pace of growth was the most pronounced in 2016 when exports increased by X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, evaporated and condensed milk exports surged to $X in 2022. Overall, exports, however, continue to indicate a noticeable decline. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons) was the main destination for evaporated and condensed milk exports from China, accounting for a X% share of total exports. Moreover, evaporated and condensed milk exports to Hong Kong SAR exceeded the volume sent to the second major destination, Democratic People's Republic of Korea (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic People's Republic of Korea (X% per year) and the United States (X% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for evaporated and condensed milk exports from China, comprising X% of total exports. The second position in the ranking was taken by Democratic People's Republic of Korea ($X), with an X% share of total exports. It was followed by Canada, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic People's Republic of Korea (X% per year) and Canada (X% per year).

Export Prices by Country

The average evaporated and condensed milk export price stood at $X per ton in 2022, dropping by X% against the previous year. Overall, export price indicated modest growth 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, evaporated and condensed milk export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% 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.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Democratic People's Republic of Korea ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Evaporated And Condensed Milk

Imports into China

In 2022, evaporated and condensed milk imports into China fell dramatically to X tons, with a decrease of X% on 2021. Overall, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then dropped remarkably in the following year.

In value terms, evaporated and condensed milk imports dropped sharply to $X in 2022. Over the period under review, imports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then dropped markedly in the following year.

Imports by Country

Australia (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of evaporated and condensed milk imports to China, with a combined X% share of total imports. Belgium, Thailand and Malaysia lagged somewhat behind, together comprising a further X%.

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

In value terms, Australia ($X), the Netherlands ($X) and Belgium ($X) constituted the largest evaporated and condensed milk suppliers to China, with a combined X% share of total imports. Germany, Thailand and Malaysia lagged somewhat behind, together accounting for a further X%.

Malaysia, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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 evaporated and condensed milk import price stood at $X per ton in 2022, declining by X% against the previous year. Overall, the import price showed a slight reduction. The pace of growth was the most pronounced in 2021 an increase of X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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