Concentrated milk and cream market in Caribbean

Earlier Report Observations

The market volume for concentrated milk and cream in the Caribbean showed significant volatility between 2018 and 2023. It peaked at 76.6 thousand tons in 2018, then dropped to 65.1 thousand tons in 2019 before recovering to 74.6 thousand tons in 2020. This was followed by a sharp contraction of over 60% to 28.6 thousand tons in 2021, with stabilization around 28 thousand tons in 2022 and 2023.

By 2024, imports of concentrated milk and cream rose to 30.1 thousand tons, while exports reached 1.7 thousand tons. Market drivers included growing demand from the food and beverage industry for use in desserts, confectionery, and baked goods, as well as increased home consumption following the COVID-19 pandemic. Consumer preferences also shifted toward organic and clean-label products, while milk price volatility due to supply chain disruptions affected producer decisions.

Production concentrated milk and cream in Caribbean

In kind, 2017-2020, t

Top producers of concentrated milk and cream, 2017-2020

World map of production of concentrated milk and cream, 2017-2020

Caribbean's production of concentrated milk and cream has declined for the third year in a row. In 2020, the region produced 2,331 tonnes, showing a slight decrease of 1.2% compared to 2019. Looking at the period from 2017 to 2020, production fell by 27.5%, which translates to an average annual decline of 10.2%.

Annual dynamics of production in Caribbean in kind, 2017-2020, t

Exports concentrated milk and cream from Caribbean

Exports in kind, t

The data shows irregular changes, pointing to a volatile market environment. Exports varied significantly, with a 4.3-fold difference between the minimum in 2017 and the maximum in 2019. In 2020, Caribbean's exports of concentrated milk and cream totaled 1,450 tonnes, down 8.8% from the previous year. The peak was recorded in 2019 at 1,591 tonnes, with the largest increase that year reaching 133.5%.

Annual dynamics of product's exports from Caribbean in kind, 2017-2020, t

From 2017 to 2020, the United States, Belize, and Chile were among the largest buyers of concentrated milk and cream from the Caribbean, accounting for 10.8%, 6.4%, and 6.0% of exports in kind, respectively. However, together they represented just 23.2% of total exports, indicating a broadly diversified partner base.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Caribbean in kind, 2017-2020

Exports in value, M $ US

The market displayed volatility during the observed period. Export values fluctuated 2.4-fold between the low in 2018 and the high in 2020. In 2020, Caribbean's exports of concentrated milk and cream amounted to $3.7 million US, marking a strong increase of 17.5% from the year before. The minimum value was $1.5 million US in 2018, with the largest decline that year at 30.3%, while the largest increase occurred in 2019 at 103.5%.

Annual dynamics of product's exports from Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, exports in value terms of concentrated milk and cream from the Caribbean were spread across many countries. The United States, Belize, and Bunkers accounted for 10.8%, 5.0%, and 2.8% of exports in value terms, respectively, jointly making up only 18.6% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Caribbean in value, 2017-2020

Imports concentrated milk and cream to Caribbean

Imports in kind, t

In 2020, Caribbean's imports of concentrated milk and cream reached 73,719 tonnes, reflecting a significant increase of 14.6% compared to 2019. Over the period from 2017 to 2020, imports grew by 7.3%, with a compound annual growth rate of 2.4%. The minimum was recorded in 2019 at 64,343 tonnes, while the maximum was in 2018 at 74,361 tonnes, with the largest decline occurring in 2019 at 13.5%.

Annual dynamics of product's imports to Caribbean in kind, 2017-2020, t

Throughout 2017 to 2020, Peru, Malaysia, and the Netherlands were the three largest markets for imports in kind, together accounting for 79.9% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Caribbean in kind, 2017-2020

Imports in value, M $ US

In 2020, Caribbean's imports of concentrated milk and cream stood at $99.5 million US, marking a substantial improvement of 11.1% from 2019. Over the period from 2017 to 2020, imports increased by 4.6%, with a compound annual growth rate of 1.5%. The minimum value was $89.5 million US in 2019, while the maximum was $102.3 million US in 2018, with the largest decline recorded in 2019 at 12.5%.

Annual dynamics of product's imports to Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, Peru, the Netherlands, and Malaysia made the biggest contribution to imports in value terms, accounting for 54.9%, 8.7%, and 6.7% of imports, respectively. Together, they represented 70.3% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Caribbean in value, 2017-2020