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

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

The Malaysian market for condensed or evaporated milk (sweetened) shrank modestly to $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption recorded a relatively flat trend pattern. Sweetened condensed and evaporated milk consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Production of Condensed Or Evaporated Milk (Sweetened) in Malaysia

In value terms, sweetened condensed and evaporated milk production reduced slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a mild curtailment. The growth pace was the most rapid in 2014 when the production volume increased by 45%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

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Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Malaysia

In 2022, after two years of growth, there was decline in shipments abroad of condensed or evaporated milk (sweetened), when their volume decreased by -5% to X tons. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 35%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk exports contracted to $X in 2022. In general, exports saw a slight shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 36% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), Mexico (X tons) and Thailand (X tons) were the main destinations of sweetened condensed and evaporated milk exports from Malaysia, with a combined 48% share of total exports. The Philippines, Madagascar, Vietnam, Benin, Cameroon, Singapore, Ghana, the United Arab Emirates, Niger and Togo lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +100.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sweetened condensed and evaporated milk exported from Malaysia were Indonesia ($X), Mexico ($X) and Thailand ($X), with a combined 48% share of total exports. The Philippines, Madagascar, Vietnam, Benin, Cameroon, Singapore, the United Arab Emirates, Ghana, Niger and Togo lagged somewhat behind, together accounting for a further 34%.

In terms of the main countries of destination, Niger, with a CAGR of +103.8%, saw the highest growth rate of 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 average export price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, waning by -2.5% against the previous year. In general, the export price showed a noticeable downturn. The pace of growth was the most pronounced in 2017 an increase of 7%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Thailand ($X per ton) and Madagascar ($X per ton), while the average price for exports to Niger ($X per ton) and Togo ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+1.5%), while the prices for the other major destinations experienced a decline.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Malaysia

After four years of growth, supplies from abroad of condensed or evaporated milk (sweetened) decreased by -18.6% to X tons in 2022. Over the period under review, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of 200% against the previous year. Imports peaked at X tons in 2021, and then declined significantly in the following year.

In value terms, sweetened condensed and evaporated milk imports contracted remarkably to $X in 2022. In general, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 277%. Imports peaked at $X in 2021, and then dropped remarkably in the following year.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of sweetened condensed and evaporated milk to Malaysia, with a 79% share of total imports. Moreover, sweetened condensed and evaporated milk imports from Australia exceeded the figures recorded by the second-largest supplier, Belgium (X tons), sevenfold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia amounted to +24.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+27.3% per year) and the United Arab Emirates (+108.4% per year).

In value terms, Australia ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to Malaysia, comprising 70% of total imports. The second position in the ranking was taken by Belgium ($X), with a 25% share of total imports. It was followed by Germany, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value from Australia amounted to +26.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+17.4% per year) and Germany (+17.5% per year).

Import Prices by Country

In 2022, the average import price for condensed or evaporated milk (sweetened) amounted to $X per ton, surging by 2.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2013 an increase of 26% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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