Eastern Asia: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Eastern Asia

The East Asian evaporated and condensed milk market reached $X in 2022, picking up by X% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Evaporated And Condensed Milk in Eastern Asia

In value terms, evaporated and condensed milk production rose markedly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

China (X tons) remains the largest evaporated and condensed milk producing country in Eastern Asia, accounting for X% of total volume. Moreover, evaporated and condensed milk production in China exceeded the figures recorded by the second-largest producer, Japan (X tons), threefold.

In China, evaporated and condensed milk production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

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Exports of Evaporated And Condensed Milk

Exports in Eastern Asia

In 2022, overseas shipments of evaporated and condensed milk increased by X% to X tons, rising for the third year in a row after three years of decline. Total exports indicated a noticeable increase from 2012 to 2022: its volume 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, evaporated and condensed milk exports surged to $X in 2022. Total exports indicated perceptible growth from 2012 to 2022: its value 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

South Korea represented the main exporter of evaporated and condensed milk in Eastern Asia, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. China (X tons) held the second position in the ranking, followed by Hong Kong SAR (X tons). All these countries together held approx. X% share of total exports. Japan (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to evaporated and condensed milk exports from South Korea stood at X%. At the same time, Japan (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, China (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of South Korea (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (X p.p.) and Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) remains the largest evaporated and condensed milk supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

In South Korea, evaporated and condensed milk exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2015; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

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

Imports of Evaporated And Condensed Milk

Imports in Eastern Asia

In 2022, the amount of evaporated and condensed milk imported in Eastern Asia fell to X tons, waning by X% against 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, evaporated and condensed milk imports shrank to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value 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, imports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of import peaked at $X in 2021, and then declined modestly in the following year.

Imports by Country

In 2022, Hong Kong SAR (X tons) was the major importer of evaporated and condensed milk, committing X% of total imports. China (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (X%). Japan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Taiwan (Chinese) (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest evaporated and condensed milk importing markets in Eastern Asia were Hong Kong SAR ($X), Taiwan (Chinese) ($X) and China ($X), together comprising X% of total imports.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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