Serbia: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Serbia

The Serbian evaporated and condensed milk market skyrocketed to $X in 2022, jumping by X% against the previous year. In general, consumption enjoyed tangible growth. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Production of Evaporated And Condensed Milk in Serbia

In value terms, evaporated and condensed milk production surged to $X in 2022 estimated in export price. Over the period under review, production, however, saw noticeable growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Evaporated And Condensed Milk

Exports from Serbia

In 2022, overseas shipments of evaporated and condensed milk decreased by X% to X tons, falling for the fourth year in a row after two years of growth. In general, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, evaporated and condensed milk exports reached $X in 2022. Overall, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Montenegro (X tons), North Macedonia (X tons) and Bosnia and Herzegovina (X tons) were the main destinations of evaporated and condensed milk exports from Serbia.

From 2012 to 2022, the biggest increases were recorded for Bosnia and Herzegovina (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Montenegro ($X), North Macedonia ($X) and Bosnia and Herzegovina ($X) constituted the largest markets for evaporated and condensed milk exported from Serbia worldwide.

Among the main countries of destination, Bosnia and Herzegovina, 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 mixed trend patterns.

Export Prices by Country

In 2022, the average evaporated and condensed milk export price amounted to $X per ton, with an increase of X% against the previous year. Overall, export price indicated a pronounced expansion 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 2018 indices. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Montenegro ($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 North Macedonia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Evaporated And Condensed Milk

Imports into Serbia

In 2022, approx. X tons of evaporated and condensed milk were imported into Serbia; growing by X% against 2021 figures. In general, imports posted a mild expansion. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, evaporated and condensed milk imports skyrocketed to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Bosnia and Herzegovina (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of evaporated and condensed milk imports to Serbia, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Bosnia and Herzegovina ($X), Germany ($X) and the Netherlands ($X) were the largest evaporated and condensed milk suppliers to Serbia, with a combined X% share of total imports.

The Netherlands, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average evaporated and condensed milk import price amounted to $X per ton, standing approx. at the previous year. Overall, the import price, however, recorded a mild reduction. The pace of growth appeared the most rapid in 2018 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average 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 ($X per ton), while the price for Bosnia and Herzegovina ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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