Concentrated sweetened milk and cream market in ASEAN

Earlier Report Observations

From 2018 to 2020, the ASEAN market for concentrated sweetened milk and cream contracted from 412.1 thousand tons to 385.1 thousand tons. This decline coincided with regulatory initiatives in Singapore, where the Ministry of Health and Health Promotion Board launched public consultations on possible mandatory front-of-pack nutrition labels and advertising restrictions for less healthy sugar-sweetened beverages. Concurrently, consumer trends showed growing demand for sugar-free and low-sugar options using natural sweeteners, reducing demand for traditional sweetened dairy products.

Market volume rebounded to 421.7 thousand tons in 2021 and grew further to 485.6 thousand tons in 2022, indicating a recovery in overall consumption. During this period, health-conscious behavior continued to shape the market, with consumers seeking better-tasting, reduced-sugar alternatives that influenced product innovation.

In 2023, the market dropped sharply to 366.9 thousand tons following the implementation of mandatory front-of-pack nutrition labels and advertising prohibitions for less healthy sugar-sweetened beverages in Singapore. These measures directly targeted products like concentrated sweetened milk and cream, discouraging consumption. By 2024, industry players responded by launching new sugar-free condensed milk variants using natural sweeteners and reformulating products to comply with the updated health guidelines.

Production concentrated sweetened milk and cream in ASEAN

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

ASEAN's production of concentrated sweetened milk and cream has declined for the second year in a row. In 2020, the region produced 430.0 K t, marking a slight decrease of 2.1% compared to 2019. Looking at the period from 2017 to 2020, overall production grew by 8.6%, with an average annual growth rate of 2.8%. The highest production volume was recorded in 2018 at 450.9 K t, which represented a significant increase of 13.9% from the previous year. In contrast, 2019 saw the largest decline of 2.6%.

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

In value, 2017-2020, M $ US

The value of concentrated sweetened milk and cream production in ASEAN also fell for the second consecutive year. In 2020, output was valued at 1 076 M $ US, reflecting a moderate drop of 7.0% from 2019. Over the 2017-2020 period, production value increased by 11.4%, with a compound annual growth rate of 3.7%. The peak value occurred in 2018 at 1 299 M $ US, which was a substantial rise of 34.5% from 2017. However, 2019 experienced the largest decline of 10.9%.

Annual dynamics of production in ASEAN in value, 2017-2020, M $ US

Exports concentrated sweetened milk and cream from ASEAN

Exports in kind, K t

ASEAN's exports of concentrated sweetened milk and cream rebounded in 2020 after two years of decline. The region exported 71.3 K t, showing a sharp increase of 48.5% compared to 2019. From 2017 to 2020, exports decreased by 45%, with an average annual decline of 18.1%. The lowest export volume was recorded in 2019 at 48.0 K t, following the largest decline of 54.3% in 2018.

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

Between 2017 and 2020, ASEAN's exports of concentrated sweetened milk and cream were distributed across a wide range of partner countries. Mexico accounted for 11.7% of exports in kind, Madagascar for 4.1%, and Togo for 2.3%. Together, these three countries represented only 18.1% of total export flows, indicating a highly diversified market.

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

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

Exports in value, M $ US

In 2020, ASEAN's exports of concentrated sweetened milk and cream were valued at 103.3 M $ US, a modest increase of 2.1% from the previous year. The lowest value was recorded in 2019 at 101.1 M $ US, which marked the largest decline of 18.3% from 2018. The highest value occurred in 2018 at 123.8 M $ US, representing the largest increase of 21.7% from 2017.

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

From 2017 to 2020, no single market dominated ASEAN's exports of concentrated sweetened milk and cream in value terms. Mexico held a 10.7% share, Madagascar 3.5%, and Angola 3.3%. Combined, these three countries accounted for just 17.5% of total export value, with the remaining 82.5% spread across numerous smaller partners, each contributing relatively modest shares.

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

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

Imports concentrated sweetened milk and cream to ASEAN

Imports in kind, K t

ASEAN's imports of concentrated sweetened milk and cream surged in 2020, ending a two-year downward trend. The region imported 26.5 K t, a dramatic rise of 38.2% from 2019. Over the 2017-2020 period, imports decreased by 35.1%, equivalent to an annualized decline of 13.4%. The lowest import volume was in 2019 at 19.1 K t, following the largest drop of 49.8% in 2018.

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

During 2017-2020, Australia was the leading supplier of concentrated sweetened milk and cream to ASEAN in kind, accounting for 5.2% of imports. The United Kingdom followed with 2.7%, and France with 1.6%. Together, these three countries formed the core of imports, but their combined share was only 9.6% of total flows.

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

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

Imports in value, M $ US

ASEAN's import market for concentrated sweetened milk and cream showed significant volatility from 2017 to 2020. The highest value was recorded in 2018 at 143.0 M $ US, which represented the largest increase of 71.9% from 2017. The lowest value occurred in 2017, resulting in a peak-to-trough ratio of 1.7 times. In 2020, imports amounted to 86.8 M $ US, a decrease of 18.6% from 2019. The largest decline was in 2019 at 25.5%.

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

From 2017 to 2020, Australia, the United Kingdom, and France were key suppliers of concentrated sweetened milk and cream to ASEAN in value terms. Australia accounted for 5.4% of imports, the United Kingdom for 4.2%, and France for 4.0%. However, their combined share reached only 13.6% of total import value, with the remaining 86.4% distributed among many other partners.

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

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