Concentrated sweetened milk and cream market in Chile

Earlier Report Observations

The market volume for concentrated sweetened milk and cream in Chile showed considerable volatility between 2018 and 2023. It grew from 15.3 thousand tons in 2018 to a peak of 21.9 thousand tons in 2020, a 27% increase that aligned with anticipated stronger demand for condensed milk and cream products within the yogurt and dairy segment.

A sharp market contraction followed in 2022, when volume fell 28% to 15.2 thousand tons. This decline coincided with a drought and pasture shortage that reduced Chile's total milk output by 2.2% and cut raw milk intake by the processing industry, limiting the supply of raw material for production.

The market rebounded in 2023, expanding by 33% to 20.2 thousand tons. During that year, Chile's dairy sector reported milk production of 2.34 billion liters, strengthening the raw material base, and condensed milk emerged as the country's most valuable dairy export, accounting for 27% of export value.

Production concentrated sweetened milk and cream in Chile

In kind, 2018-2021, t

Globally, Chile ranked as the 14th largest producer of concentrated sweetened milk and cream between 2018 and 2021.

Top producers of concentrated sweetened milk and cream, 2018-2021

World map of production of concentrated sweetened milk and cream, 2018-2021

In 2021, Chile produced 40 588 tonnes of concentrated sweetened milk and cream, marking a significant year-over-year decline of 12.7%. Production reached its lowest point in 2019 at 38 925 tonnes, while peaking in 2020 at 46 477 tonnes. The most substantial increase occurred in 2020, with a rise of 19.4%.

Annual dynamics of production in Chile in kind, 2018-2021, t

In value, 2018-2021, K $ US

In 2021, the output of concentrated sweetened milk and cream in Chile was valued at 73 412 thousand US dollars, down 5.8% from the previous year. From 2018 to 2021, production grew by 6.8%, averaging an annualized rate of 2.2%. The lowest value was recorded in 2019 at 64 304 thousand US dollars, and the highest in 2020 at 77 935 thousand US dollars. The largest decline was in 2019 at 6.4%, while the biggest increase was in 2020 at 21.2%.

Annual dynamics of production in Chile in value, 2018-2021, K $ US

Exports concentrated sweetened milk and cream from Chile

Exports in kind, t

In 2021, Chile exported 22 708 tonnes of concentrated sweetened milk and cream, representing a sharp contraction of 21.2% compared to 2020. Over the 2018-2021 period, exports fell by 19.8%, with a compound annual growth rate (CAGR) of -7.1%. The peak was in 2020 at 28 817 tonnes, and the largest increase occurred that same year at 13.6%.

Annual dynamics of product's exports from Chile in kind, 2018-2021, t

From 2018 to 2021, the United States, Peru, and Costa Rica were the three main markets, collectively accounting for 80.5% of Chile's total exports of concentrated sweetened milk and cream by volume.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Chile in kind, 2018-2021

Exports in value, K $ US

In 2021, Chile's exports of concentrated sweetened milk and cream totaled 41 073 thousand US dollars, reflecting a robust decrease of 15.0% from 2020. Over the 2018-2021 span, exports declined by 15.3%, with a CAGR of -5.4%. The largest increase was recorded in 2020 at 15.3%.

Annual dynamics of product's exports from Chile in value, 2018-2021, K $ US

Between 2018 and 2021, the United States, Peru, and Costa Rica stood out as the primary markets for Chile's exports by value, representing 45.5%, 19.0%, and 14.8% of total exports, respectively. Together, they made up 79.3% of all export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Chile in value, 2018-2021

Imports concentrated sweetened milk and cream to Chile

Imports in kind, t

Following a two-year rise, Chile's imports of concentrated sweetened milk and cream declined. In 2021, imports amounted to 3 166 tonnes, down 25.4% from the prior year. Over the 2018-2021 period, imports decreased by 8.4%, with a CAGR of -2.9%. The highest volume was in 2020 at 4 244 tonnes, and the largest increase occurred that year at 16.3%.

Annual dynamics of product's imports to Chile in kind, 2018-2021, t

From 2018 to 2021, Brazil, Peru, and the Netherlands led Chile's import structure by volume, accounting for 38.3%, 25.1%, and 17.9% of imports, respectively. Combined, they represented 81.3% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Chile in kind, 2018-2021

Imports in value, K $ US

After a two-year increase, Chile's imports of concentrated sweetened milk and cream declined. In 2021, imports were valued at 6 841 thousand US dollars, showing a sharp decrease of 34.7% compared to 2020. Between 2018 and 2021, imports rose by 43.6%, averaging an annualized rate of 12.8%. The peak value was in 2020 at 6 841 thousand US dollars, and the largest increase occurred that year at 57.5%.

Annual dynamics of product's imports to Chile in value, 2018-2021, K $ US

Over the 2018-2021 period, Brazil, Peru, and the Netherlands remained the top sources for Chile's imports by value, with shares of 53.8%, 12.7%, and 12.2%, respectively. Together, they accounted for 78.7% of total import flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Chile in value, 2018-2021