Vietnam: Market for Powdered, Evaporated And Condensed Milk 2024

Market Size for Powdered, Evaporated And Condensed Milk in Vietnam

In 2022, the Vietnamese market for powdered, evaporated and condensed milk increased by X% to $X, rising for the sixth year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Powdered, evaporated and condensed milk consumption peaked in 2022 and is expected to retain growth in the immediate term.

Production of Powdered, Evaporated And Condensed Milk in Vietnam

In value terms, powdered, evaporated and condensed milk production rose to $X in 2022 estimated in export price. Over the period under review, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Powdered, evaporated and condensed milk production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Powdered, Evaporated And Condensed Milk

Exports from Vietnam

In 2022, approx. X tons of powdered, evaporated and condensed milk were exported from Vietnam; with a decrease of X% on 2021. Over the period under review, exports showed a abrupt slump. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, powdered, evaporated and condensed milk exports rose to $X in 2022. Overall, exports showed a perceptible contraction. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Iraq (X tons) was the main destination for powdered, evaporated and condensed milk exports from Vietnam, with a X% share of total exports. Moreover, powdered, evaporated and condensed milk exports to Iraq exceeded the volume sent to the second major destination, the Philippines (X tons), fourfold. The third position in this ranking was held by Cambodia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iraq stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Cambodia (X% per year).

In value terms, Iraq ($X) remains the key foreign market for powdered, evaporated and condensed milk exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Cambodia ($X), with a X% share of total exports. It was followed by the Philippines, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iraq amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (X% per year) and the Philippines (X% per year).

Export Prices by Country

In 2022, the average export price for powdered, evaporated and condensed milk 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 most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to Malaysia ($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 Iraq (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Powdered, Evaporated And Condensed Milk

Imports into Vietnam

In 2022, overseas purchases of powdered, evaporated and condensed milk decreased by X% to X tons, falling for the third consecutive year after four years of growth. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, powdered, evaporated and condensed milk imports expanded significantly to $X in 2022. In general, total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

New Zealand (X tons), the United States (X tons) and Australia (X tons) were the main suppliers of powdered, evaporated and condensed milk imports to Vietnam, with a combined X% share of total imports. The Netherlands, Belgium, Germany, France, Lithuania and Poland lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), the United States ($X) and Australia ($X) were the largest powdered, evaporated and condensed milk suppliers to Vietnam, together accounting for X% of total imports. The Netherlands, Belgium, Germany, France, Lithuania and Poland lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Belgium, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for powdered, evaporated and condensed milk stood at $X per ton in 2022, rising by X% against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered, evaporated and condensed milk import price increased by X% against 2019 indices. Over the period under review, average import prices attained the maximum at $X per ton in 2014; afterwards, it flattened through to 2022.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were New Zealand ($X per ton) and France ($X per ton), while the price for Australia ($X per ton) and Germany ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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