South-Eastern Asia: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in South-Eastern Asia

In 2022, the Southeast Asian evaporated and condensed milk market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, saw a pronounced descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Evaporated And Condensed Milk in South-Eastern Asia

In value terms, evaporated and condensed milk production shrank modestly to $X in 2022 estimated in export price. Overall, production recorded a noticeable reduction. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Malaysia (X tons), Singapore (X tons) and Thailand (X tons), with a combined X% share of total production.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while production for the other leaders experienced a decline in the production figures.

Exports of Evaporated And Condensed Milk

Exports in South-Eastern Asia

In 2022, approx. X tons of evaporated and condensed milk were exported in South-Eastern Asia; waning by X% compared with the year before. Over the period under review, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, evaporated and condensed milk exports reduced sharply to $X in 2022. Overall, exports recorded a deep slump. The growth pace was the most rapid in 2018 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Malaysia (X tons) represented the major exporter of evaporated and condensed milk, constituting X% of total exports. It was distantly followed by Indonesia (X tons), Thailand (X tons) and Vietnam (X tons), together creating a X% share of total exports. The following exporters - Cambodia (X tons) and the Philippines (X tons) - each resulted at a X% share of total exports.

Exports from Malaysia decreased at an average annual rate of X% from 2012 to 2022. At the same time, Cambodia (X%), the Philippines (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Thailand (X%) and Vietnam (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.), Indonesia (X p.p.), Cambodia (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Vietnam (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Malaysia totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price, however, continues to indicate a slight reduction. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 mixed trends in the export price figures.

Imports of Evaporated And Condensed Milk

Imports in South-Eastern Asia

For the fourth year in a row, South-Eastern Asia recorded decline in purchases abroad of evaporated and condensed milk, which decreased by X% to X tons in 2022. Overall, imports recorded a perceptible contraction. The pace of growth appeared the most rapid in 2018 with an increase of X%. 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, evaporated and condensed milk imports totaled $X in 2022. In general, imports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X tons) was the major importer of evaporated and condensed milk, generating X% of total imports. It was distantly followed by the Philippines (X tons), Singapore (X tons), Vietnam (X tons), Brunei Darussalam (X tons), Myanmar (X tons) and Cambodia (X tons), together committing a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to evaporated and condensed milk imports into Indonesia stood at X%. At the same time, Vietnam (X%), Cambodia (X%) and Brunei Darussalam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, the Philippines (X%), Singapore (X%) and Myanmar (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Vietnam, Brunei Darussalam and Cambodia increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X), the Philippines ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Vietnam, with a CAGR of X%, recorded 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, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

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

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

Source: IndexBox Platform

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