Concentrated sweetened milk and cream market in Americas

Earlier Report Observations

The market for concentrated sweetened milk and cream in the Americas experienced a multi-year contraction, with volume falling from 1.02 million tons in 2018 to 920 thousand tons in 2022. This downward trend reversed sharply in 2023, when consumption rebounded by 9.9% to reach 1.01 million tons, nearly returning to the starting level.

The most notable decline occurred in 2020, with the market shrinking by over 5% to 956 thousand tons. After a period of relative stability in 2021, another decrease followed in 2022, setting the stage for the subsequent strong recovery the following year.

Production concentrated sweetened milk and cream in Americas

In kind, 2017-2020, K t

Top producers of concentrated sweetened milk and cream, 2017-2020

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

Production of concentrated sweetened milk and cream in the Americas declined for the third consecutive year. In 2020, output reached 943 K t, marking a 5.2% decrease from 2019. Over the period from 2017 to 2020, production fell by 9%, which translates to an annualized decline rate of 3.1%.

Annual dynamics of production in Americas in kind, 2017-2020, K t

Exports concentrated sweetened milk and cream from Americas

Exports in kind, t

After two years of decline, exports of concentrated sweetened milk and cream from the Americas rebounded. In 2020, exports totaled 18 678 t, an 8.9% increase compared to the previous year. However, from 2017 to 2020, exports decreased by 52.8%, with an annualized decline rate of 22.1%. The lowest point was in 2019 at 17 150 t, while the sharpest drop occurred in 2018, falling by 46.4%.

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

Between 2017 and 2020, exports of concentrated sweetened milk and cream from the Americas were widely distributed across various partner countries. Angola accounted for 2.6% of exports in kind, Saudi Arabia for 1.9%, and Tunisia for 1.4%. Together, these three countries represented only 5.9% of total export flows.

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

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

Exports in value, M $ US

Following a two-year decline, the value of concentrated sweetened milk and cream exports from the Americas increased. In 2020, exports amounted to 103.9 M $ US, a 20.4% rise from the previous year. Over the 2017-2020 period, however, exports decreased by 4.8%, with a compound annual growth rate (CAGR) of -1.6%. The lowest value was recorded in 2019 at 86.3 M $ US, which also saw the largest decline of 15.8%.

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

From 2017 to 2020, Angola, Saudi Arabia, and Tunisia were notable buyers of concentrated sweetened milk and cream from the Americas in value terms. Angola contributed 2.7% of export value, Saudi Arabia 2.4%, and Tunisia 1.3%. Combined, they accounted for just 6.4% of total export value, with the remaining 93.6% spread across numerous other partners.

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

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

Imports concentrated sweetened milk and cream to Americas

Imports in kind, t

After two years of decline, imports of concentrated sweetened milk and cream into the Americas increased. In 2020, imports reached 31 906 t, a modest 4.2% gain from the previous year. Over the 2017-2020 period, imports decreased by 15.2%, with a compound annual growth rate (CAGR) of -5.3%. The lowest volume was in 2019 at 30 635 t, while the largest decline occurred in 2018, dropping by 12.8%.

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

Throughout 2017-2020, imports of concentrated sweetened milk and cream into the Americas were not heavily concentrated in a few key markets. Malaysia accounted for 11.6% of imports in kind, the Netherlands for 9.3%, and Vietnam for 3.6%. Together, these three countries made up only 24.6% of total import flows.

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

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

Imports in value, M $ US

In 2020, cross-border shipments of concentrated sweetened milk and cream into the Americas totaled 83.4 M $ US, an 18.8% increase from the previous year. Over the 2017-2020 period, imports grew by 10.8%, with a compound annual growth rate (CAGR) of 3.5%. The lowest value was recorded in 2019 at 70.2 M $ US, which also experienced the largest decline of 9.1%.

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

The country composition of imports in value terms from 2017 to 2020 was dispersed. The Netherlands accounted for 10.1% of import value, Malaysia for 7.4%, and Vietnam for 3.4%. Combined, these three countries formed just 20.9% of total flows, with the remaining 79.1% distributed among a wide range of other destinations.

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

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