United Kingdom: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in the UK

In 2022, the UK market for condensed or evaporated milk (sweetened) was finally on the rise to reach $X after four years of decline. In general, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Condensed Or Evaporated Milk (Sweetened) in the UK

In value terms, sweetened condensed and evaporated milk production reduced to $X in 2022 estimated in export price. In general, production continues to indicate a notable expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by 75%. Sweetened condensed and evaporated milk production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

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Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from the UK

For the third consecutive year, the UK recorded decline in overseas shipments of condensed or evaporated milk (sweetened), which decreased by -25% to X tons in 2022. Over the period under review, exports continue to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2019 with an increase of 87% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, sweetened condensed and evaporated milk exports rose to $X in 2022. Overall, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when exports increased by 102% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Ireland (X tons) was the main destination for sweetened condensed and evaporated milk exports from the UK, accounting for a 55% share of total exports. Moreover, sweetened condensed and evaporated milk exports to Ireland exceeded the volume sent to the second major destination, Germany (X tons), eightfold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ireland stood at -3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+48.3% per year) and the United Arab Emirates (+3.5% per year).

In value terms, Ireland ($X) remains the key foreign market for condensed or evaporated milk (sweetened) exports from the UK, comprising 43% of total exports. The second position in the ranking was taken by Germany ($X), with a 6.9% share of total exports. It was followed by Saudi Arabia, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value to Ireland stood at -7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+49.2% per year) and Saudi Arabia (+18.7% per year).

Export Prices by Country

In 2022, the average export price for condensed or evaporated milk (sweetened) amounted to $X per ton, jumping by 37% against the previous year. Overall, the export price, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2016 an increase of 42%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to the United Arab Emirates ($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 China (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into the UK

After two years of decline, overseas purchases of condensed or evaporated milk (sweetened) increased by 22% to X tons in 2022. In general, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -17.6% against 2019 indices. The growth pace was the most rapid in 2016 when imports increased by 34% against the previous year. Over the period under review, imports hit record highs 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 surged to $X in 2022. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Belgium (X tons) constituted the largest sweetened condensed and evaporated milk supplier to the UK, with a 46% share of total imports. Moreover, sweetened condensed and evaporated milk imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was held by the Netherlands (X tons), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.7% per year) and the Netherlands (+0.5% per year).

In value terms, Belgium ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to the UK, comprising 54% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 16% share of total imports. It was followed by Germany, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium amounted to +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+3.7% per year) and Germany (+2.9% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, jumping by 36% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sweetened condensed and evaporated milk import price increased by +51.5% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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