U.S.: Market for Powdered, Evaporated And Condensed Milk 2023

Market Size for Powdered, Evaporated And Condensed Milk in the U.S.

In 2021, after two years of growth, there was significant decline in the U.S. market for powdered, evaporated and condensed milk, when its value decreased by -13.4% to $X. In general, consumption saw a noticeable slump. The pace of growth appeared the most rapid in 2020 with an increase of 9.8% against the previous year. Powdered, evaporated and condensed milk consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Powdered, Evaporated And Condensed Milk in the U.S.

In value terms, powdered, evaporated and condensed milk production contracted to $X in 2021. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 27% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Powdered, Evaporated And Condensed Milk

Exports from the U.S.

Powdered, evaporated and condensed milk exports from the United States rose rapidly to X tons in 2021, with an increase of 8.5% compared with the year before. Overall, total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +53.0% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 30% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, powdered, evaporated and condensed milk exports surged to $X in 2021. In general, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +103.3% against 2016 indices. The growth pace was the most rapid in 2013 with an increase of 59%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Mexico (X tons) was the main destination for powdered, evaporated and condensed milk exports from the United States, with a 38% share of total exports. Moreover, powdered, evaporated and condensed milk exports to Mexico exceeded the volume sent to the second major destination, the Philippines (X tons), threefold. Indonesia (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume to Mexico amounted to +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+10.3% per year) and Indonesia (+10.2% per year).

In value terms, Mexico ($X) remains the key foreign market for powdered, evaporated and condensed milk exports from the United States, comprising 38% of total exports. The second position in the ranking was held by the Philippines ($X), with a 12% share of total exports. It was followed by Indonesia, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value to Mexico totaled +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+8.7% per year) and Indonesia (+8.7% per year).

Export Prices by Country

The average export price for powdered, evaporated and condensed milk stood at $X per ton in 2021, growing by 12% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 23% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Peru ($X per ton) and Colombia ($X per ton), while the average price for exports to the Philippines ($X per ton) and Pakistan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+1.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Powdered, Evaporated And Condensed Milk

Imports into the U.S.

After three years of growth, overseas purchases of powdered, evaporated and condensed milk decreased by -29.2% to X tons in 2021. Overall, imports saw a mild descent. The pace of growth was the most pronounced in 2019 with an increase of 74%. Over the period under review, imports attained the maximum at X tons in 2020, and then dropped remarkably in the following year.

In value terms, powdered, evaporated and condensed milk imports shrank dramatically to $X in 2021. Over the period under review, imports showed a slight decline. The most prominent rate of growth was recorded in 2020 when imports increased by 19% against the previous year. As a result, imports reached the peak of $X, and then shrank rapidly in the following year.

Imports by Country

In 2021, Mexico (X tons) constituted the largest powdered, evaporated and condensed milk supplier to the United States, with a 47% share of total imports. Moreover, powdered, evaporated and condensed milk imports from Mexico exceeded the figures recorded by the second-largest supplier, Chile (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume from Mexico amounted to -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+5.9% per year) and the Netherlands (+11.3% per year).

In value terms, Mexico ($X) constituted the largest supplier of powdered, evaporated and condensed milk to the United States, comprising 50% of total imports. The second position in the ranking was held by Chile ($X), with a 15% share of total imports. It was followed by the Netherlands, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Mexico totaled -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+4.6% per year) and the Netherlands (+9.2% per year).

Import Prices by Country

The average import price for powdered, evaporated and condensed milk stood at $X per ton in 2021, with an increase of 12% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 67% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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