Latin America and the Caribbean: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in Latin America and the Caribbean

The Latin American market for condensed or evaporated milk (unsweetened) totaled $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Production of Condensed Or Evaporated Milk (Unsweetened) in Latin America and the Caribbean

In value terms, unsweetened condensed and evaporated milk production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports in Latin America and the Caribbean

In 2022, approx. X tons of condensed or evaporated milk (unsweetened) were exported in Latin America and the Caribbean; leveling off at 2021. In general, exports recorded a abrupt decline. The growth pace was the most rapid in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, unsweetened condensed and evaporated milk exports expanded rapidly to $X in 2022. Over the period under review, exports recorded a perceptible descent. The growth pace was the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Peru (X tons) and Mexico (X tons) prevails in exports structure, together constituting X% of total exports. It was distantly followed by Nicaragua (X tons), creating a X% share of total exports. Costa Rica (X tons) and El Salvador (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by El Salvador (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest unsweetened condensed and evaporated milk supplying countries in Latin America and the Caribbean were Mexico ($X), Peru ($X) and Nicaragua ($X), together accounting for X% of total exports.

Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while Peru ($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 (X%), while the other leaders experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports in Latin America and the Caribbean

In 2022, imports of condensed or evaporated milk (unsweetened) in Latin America and the Caribbean was estimated at X tons, therefore, remained relatively stable against the year before. Overall, imports, however, saw a noticeable reduction. The growth pace was the most rapid in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, unsweetened condensed and evaporated milk imports soared to $X in 2022. In general, imports showed a relatively flat trend pattern. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Mexico (X tons), distantly followed by Bolivia (X tons), the Dominican Republic (X tons), El Salvador (X tons) and Bahamas (X tons) represented the major importers of condensed or evaporated milk (unsweetened), together generating X% of total imports. Guatemala (X tons), Peru (X tons), Chile (X tons), Trinidad and Tobago (X tons), Belize (X tons), Costa Rica (X tons), Cayman Islands (X tons) and Guyana (X tons) took a little share of total imports.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Cayman Islands (X%), the Dominican Republic (X%), El Salvador (X%), Chile (X%) and Trinidad and Tobago (X%) displayed positive paces of growth. Moreover, Cayman Islands emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Bolivia, Guatemala and Peru experienced a relatively flat trend pattern. By contrast, Costa Rica (X%), Bahamas (X%), Belize (X%) and Guyana (X%) illustrated a downward trend over the same period. Mexico (X p.p.), the Dominican Republic (X p.p.), El Salvador (X p.p.), Peru (X p.p.), Bolivia (X p.p.), Chile (X p.p.), Cayman Islands (X p.p.) and Trinidad and Tobago (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported condensed or evaporated milk (unsweetened) in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by El Salvador ($X), with a X% share of total imports. It was followed by the Dominican Republic, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: El Salvador (X% per year) and the Dominican Republic (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Import price indicated a perceptible increase 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, unsweetened condensed and evaporated milk import price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Belize ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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