Latin America and the Caribbean: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Latin America and the Caribbean

The Latin American evaporated and condensed milk market amounted to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 when the market value increased by X%. Over the period under review, the market reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Production of Evaporated And Condensed Milk in Latin America and the Caribbean

In value terms, evaporated and condensed milk production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Peru (X tons) constituted the country with the largest volume of evaporated and condensed milk production, accounting for X% of total volume. Moreover, evaporated and condensed milk production in Peru exceeded the figures recorded by the second-largest producer, Mexico (X tons), threefold. Brazil (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual growth rate of volume in Peru stood at X%. The remaining producing countries recorded the following average annual rates of production growth: Mexico (X% per year) and Brazil (X% per year).

Exports of Evaporated And Condensed Milk

Exports in Latin America and the Caribbean

In 2022, the amount of evaporated and condensed milk exported in Latin America and the Caribbean expanded rapidly to X tons, with an increase of X% on the previous year. Over the period under review, exports, however, showed a drastic downturn. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, evaporated and condensed milk exports soared to $X in 2022. Overall, exports, however, saw a pronounced decline. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of evaporated and condensed milk, namely Chile, Mexico and Peru, represented more than two-thirds of total export. It was distantly followed by Brazil (X tons), making up an X% share of total exports. The following exporters - Nicaragua (X tons) and Honduras (X tons) - together made up X% of total exports.

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

In value terms, the largest evaporated and condensed milk supplying countries in Latin America and the Caribbean were Chile ($X), Mexico ($X) and Peru ($X), together comprising X% of total exports. Brazil, Nicaragua and Honduras lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Honduras, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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 last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while Honduras ($X per ton) was amongst the lowest.

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

Imports of Evaporated And Condensed Milk

Imports in Latin America and the Caribbean

In 2022, the amount of evaporated and condensed milk imported in Latin America and the Caribbean stood at X tons, growing by X% against the previous year. In general, imports, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, evaporated and condensed milk imports soared to $X in 2022. Overall, imports, however, showed a perceptible descent. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Costa Rica (X tons), Peru (X tons), Bolivia (X tons), Chile (X tons), Trinidad and Tobago (X tons), the Dominican Republic (X tons), Guatemala (X tons), El Salvador (X tons), Bahamas (X tons), Belize (X tons), Haiti (X tons) and Ecuador (X tons) represented the largest importer of evaporated and condensed milk in Latin America and the Caribbean, mixing up X% of total import. Venezuela (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Chile (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Costa Rica ($X), Trinidad and Tobago ($X) and Peru ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Chile, Guatemala, the Dominican Republic, El Salvador, Bolivia, Bahamas, Ecuador, Belize, Haiti and Venezuela lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Chile, with a CAGR of X%, 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 import price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain 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 Costa Rica ($X per ton), while Belize ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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