Singapore: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in Singapore

The Singaporean market for condensed or evaporated milk (unsweetened) expanded to $X in 2022, increasing by X% against the previous year. In general, consumption, however, showed a abrupt decline. Unsweetened condensed and evaporated milk consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Condensed Or Evaporated Milk (Unsweetened) in Singapore

In value terms, unsweetened condensed and evaporated milk production totaled $X in 2022 estimated in export price. Over the period under review, production showed a abrupt setback. The most prominent rate of growth was recorded in 2019 with an increase of X%. Unsweetened condensed and evaporated milk production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Singapore

In 2022, the amount of condensed or evaporated milk (unsweetened) exported from Singapore plummeted to X tons, declining by X% against the previous year. In general, exports recorded a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, unsweetened condensed and evaporated milk exports contracted significantly to $X in 2022. Over the period under review, exports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Kuwait (X tons), Hong Kong SAR (X tons) and Sri Lanka (X tons) were the main destinations of unsweetened condensed and evaporated milk exports from Singapore, together accounting for X% of total exports. Brunei Darussalam, the Philippines, Thailand, Taiwan (Chinese) and Myanmar lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for unsweetened condensed and evaporated milk exported from Singapore were Kuwait ($X), Sri Lanka ($X) and Hong Kong SAR ($X), together accounting for X% of total exports. Brunei Darussalam, Thailand, the Philippines, Taiwan (Chinese) and Myanmar lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, the Philippines, with a CAGR of X%, saw 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 average export price for condensed or evaporated milk (unsweetened) 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%. The growth pace was the most rapid in 2020 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Myanmar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Singapore

In 2022, purchases abroad of condensed or evaporated milk (unsweetened) increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, continue to indicate a slight decrease. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, unsweetened condensed and evaporated milk imports surged to $X in 2022. Overall, imports, however, recorded a slight descent. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of unsweetened condensed and evaporated milk to Singapore, with a X% share of total imports. Moreover, unsweetened condensed and evaporated milk imports from Thailand exceeded the figures recorded by the second-largest supplier, Australia (X tons), threefold. New Zealand (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and New Zealand (X% per year).

In value terms, Thailand ($X), New Zealand ($X) and Australia ($X) appeared to be the largest unsweetened condensed and evaporated milk suppliers to Singapore, with a combined X% share of total imports. The Netherlands, Malaysia, Germany and Poland lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Germany, 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 more modest paces of growth.

Import Prices by Country

The average import price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2022, leveling off at the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, 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 New Zealand ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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