South-Eastern Asia: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in South-Eastern Asia

The Southeast Asian market for condensed or evaporated milk (unsweetened) rose remarkably to $X in 2022, surging by X% against the previous year. In general, consumption, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2016 when the market value increased by X%. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Condensed Or Evaporated Milk (Unsweetened) in South-Eastern Asia

In value terms, unsweetened condensed and evaporated milk production reached $X in 2022 estimated in export price. Over the period under review, production, however, saw a noticeable reduction. The pace of growth appeared the most rapid in 2020 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports in South-Eastern Asia

In 2022, shipments abroad of condensed or evaporated milk (unsweetened) decreased by X% to X tons, falling for the second year in a row after seven years of growth. Overall, exports showed a noticeable downturn. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, unsweetened condensed and evaporated milk exports reduced notably to $X in 2022. Over the period under review, exports showed a perceptible contraction. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia prevails in exports structure, amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by Singapore (X tons), mixing up a X% share of total exports. Thailand (X tons), the Philippines (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to unsweetened condensed and evaporated milk exports from Malaysia stood at X%. At the same time, the Philippines (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. Vietnam experienced a relatively flat trend pattern. By contrast, Thailand (X%) and Singapore (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (X p.p.) and Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest unsweetened condensed and evaporated milk supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

In Malaysia, unsweetened condensed and evaporated milk exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports in South-Eastern Asia

In 2022, overseas purchases of condensed or evaporated milk (unsweetened) increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, recorded a mild shrinkage. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, unsweetened condensed and evaporated milk imports soared to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons) and Vietnam (X tons) were the main importers of condensed or evaporated milk (unsweetened) in South-Eastern Asia, together comprising X% of total imports. Singapore (X tons) ranks next in terms of the total imports with a X% share, followed by Malaysia (X%), Myanmar (X%), Thailand (X%) and the Philippines (X%).

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

In value terms, Indonesia ($X), Vietnam ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Malaysia, Thailand, Myanmar and the Philippines lagged somewhat behind, together accounting for a further X%.

Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 South-Eastern Asia amounted to $X per ton, approximately equating the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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