Vietnam: Market for Powdered, Condensed Or Evaporated Milk 2024

Market Size for Powdered, Condensed Or Evaporated Milk in Vietnam

In 2022, the Vietnamese market for powdered, condensed or evaporated milk decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. 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. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Powdered, Condensed Or Evaporated Milk in Vietnam

In value terms, powdered, condensed or evaporated milk production reached $X in 2022 estimated in export price. Overall, the total production indicated a resilient 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 2013 with an increase of X% against the previous year. Powdered, condensed or evaporated milk production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Powdered, Condensed Or Evaporated Milk

Exports from Vietnam

In 2022, powdered, condensed or evaporated milk exports from Vietnam expanded to X tons, with an increase of X% on 2021. In general, exports showed a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, powdered, condensed or evaporated milk exports reduced to $X in 2022. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. The exports peaked at $X in 2021, and then reduced slightly in the following year.

Exports by Country

Iraq (X tons) was the main destination for powdered, condensed or evaporated milk exports from Vietnam, with a X% share of total exports. Moreover, powdered, condensed or evaporated milk exports to Iraq exceeded the volume sent to the second major destination, the Philippines (X tons), fivefold. Cambodia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate 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 ($X) remains the key foreign market for powdered, condensed or evaporated milk exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with an X% share of total exports. It was followed by Cambodia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Iraq totaled 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).

Export Prices by Country

In 2022, the average export price for powdered, condensed or evaporated milk amounted to $X per ton, falling by X% against the previous year. In general, export price indicated a prominent 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, condensed or evaporated milk export price increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then declined in the following year.

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

Imports of Powdered, Condensed Or Evaporated Milk

Imports into Vietnam

After two years of decline, overseas purchases of powdered, condensed or evaporated milk increased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, powdered, condensed or evaporated milk imports fell slightly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

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

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

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

Import Prices by Country

In 2022, the average import price for powdered, condensed or evaporated milk amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat 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 Poland ($X per ton) and Canada ($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 a decline.

Source: IndexBox Platform

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