Southern Asia: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in Southern Asia

The South Asian market for condensed or evaporated milk (sweetened) expanded significantly to $X in 2022, rising by 6.2% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.4% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Condensed Or Evaporated Milk (Sweetened) in Southern Asia

In value terms, sweetened condensed and evaporated milk production expanded remarkably to $X in 2022 estimated in export price. Overall, production enjoyed a resilient expansion. The pace of growth was the most pronounced in 2020 when the production volume increased by 73%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports in Southern Asia

In 2022, approx. X tons of condensed or evaporated milk (sweetened) were exported in Southern Asia; waning by -14.5% on the year before. Over the period under review, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 147%. The volume of export peaked at X tons in 2021, and then dropped in the following year.

In value terms, sweetened condensed and evaporated milk exports declined dramatically to $X in 2022. Overall, exports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2014 when exports increased by 189% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Sri Lanka (X tons) represented the largest exporter of condensed or evaporated milk (sweetened), comprising 81% of total exports. It was distantly followed by Pakistan (X tons) and India (X tons), together constituting an 18% share of total exports.

Sri Lanka was also the fastest-growing in terms of the condensed or evaporated milk (sweetened) exports, with a CAGR of +32.0% from 2012 to 2022. At the same time, India (+2.2%) and Pakistan (+2.2%) displayed positive paces of growth. While the share of Sri Lanka (+61 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (-15.6 p.p.) and Pakistan (-22.9 p.p.) displayed negative dynamics.

In value terms, Sri Lanka ($X) remains the largest sweetened condensed and evaporated milk supplier in Southern Asia, comprising 78% of total exports. The second position in the ranking was held by India ($X), with a 14% share of total exports.

In Sri Lanka, sweetened condensed and evaporated milk exports increased at an average annual rate of +34.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: India (+6.3% per year) and Pakistan (-1.8% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, reducing by -17.4% against the previous year. Overall, the export price, however, continues to indicate a mild increase. The growth pace was the most rapid in 2020 when the export price increased by 73%. Over the period under review, the export prices reached the peak figure at $X per ton in 2017; however, from 2018 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 India ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports in Southern Asia

In 2022, approx. X tons of condensed or evaporated milk (sweetened) were imported in Southern Asia; declining by -14.5% on 2021 figures. Overall, imports showed a noticeable reduction. The pace of growth was the most pronounced in 2017 with an increase of 87%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk imports contracted to $X in 2022. Over the period under review, imports showed a pronounced downturn. The growth pace was the most rapid in 2019 when imports increased by 84%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Afghanistan (X tons) and Maldives (X tons) prevails in imports structure, together committing 87% of total imports. It was distantly followed by Pakistan (X tons), achieving a 5.6% share of total imports. The following importers - Nepal (X tons) and India (X tons) - each finished at a 5.9% 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 Afghanistan (with a CAGR of +23.6%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Afghanistan ($X), Maldives ($X) and Pakistan ($X) were the countries with the highest levels of imports in 2022, with a combined 92% share of total imports.

In terms of the main importing countries, Afghanistan, with a CAGR of +25.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, surging by 5.5% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the import price increased by 23% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Afghanistan ($X per ton) and India ($X per ton), while Pakistan ($X per ton) and Maldives ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Afghanistan (+1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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