Milk and cream market in Latin America and the Caribbean

Earlier Report Observations

From 2018 to 2020, milk and cream production in Latin America and the Caribbean increased, supported by growing global demand for organic dairy products and the emerging trend toward plant-based alternatives, particularly in countries like Brazil and Mexico. However, in 2020, the COVID-19 pandemic caused an economic slowdown and reduced demand from the food service sector, leading to more moderate production growth.

In 2021 and 2022, production continued to expand as the region began recovering from the pandemic. A key driver was the rise in milk output in Brazil, backed by infrastructure modernization and access to subsidized credit lines such as the Plan Safra 2024/25, which enabled farmers to invest in more efficient systems and directly contributed to higher market volume.

By 2023, the market stabilized at a high level, partly due to policy measures like Mexico's anti-inflation decrees that allowed duty-free imports of milk and cream. Simultaneously, sustained growth in lactose-free and plant-based alternative segments continued to stimulate consumer demand, supporting the overall market size.

Production milk and cream in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of milk and cream, 2017-2020

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

Milk and cream production in Latin America and the Caribbean grew for the third year in a row. In 2020, the region produced 94 064 thousand tons, marking a 3.1% increase from the previous year. From 2017 to 2020, production rose by 6.7%, with an average annual growth rate of 2.2%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

In value, 2017-2020, M $ US

The value of milk and cream production in Latin America and the Caribbean fell for the second consecutive year. In 2020, output was valued at 84 467 million US dollars, down 1.4% from 2019. Between 2017 and 2020, production value increased by 4.3%, averaging 1.4% per year. The peak was in 2018 at 92 701 million US dollars, followed by the largest drop of 7.5% in 2019, while the biggest gain of 14.5% occurred in 2018.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Exports milk and cream from Latin America and the Caribbean

Exports in kind, K t

After two years of decline, milk and cream exports from Latin America and the Caribbean rebounded. In 2020, exports reached 94.9 thousand tons, up 9.4% from the prior year. From 2017 to 2020, exports decreased by 19.5%, with an average annual decline of 7.0%. The lowest point was in 2019 at 86.8 thousand tons, and the sharpest fall of 25.9% happened in 2018.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, milk and cream exports in volume were widely distributed across many markets. The Philippines accounted for 6.3% of exports, the United States for 3.2%, and China for 1.8%, together making up just 11.3% of total flows. The remaining 88.7% went to a diverse range of other partners.

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

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

Following two years of decrease, milk and cream exports from Latin America and the Caribbean rose. In 2020, exports were valued at 85.3 million US dollars, a 4.6% increase from 2019. Over the 2017-2020 period, exports fell by 21.4%, with an average annual decline of 7.7%. The lowest value was recorded in 2019 at 81.5 million US dollars, and the largest drop of 16.8% occurred in 2018.

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

Between 2017 and 2020, the export value of milk and cream was spread across a broad partner landscape. The Philippines contributed 7.8% of exports, the United States 5.7%, and the United Arab Emirates 3.5%, together representing only 17.0% of total flows. A substantial 83.0% was directed to numerous other countries.

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

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports milk and cream to Latin America and the Caribbean

Imports in kind, K t

Milk and cream imports into Latin America and the Caribbean increased for the second year in a row. In 2020, the region imported 121.3 thousand tons, up 7.5% year-over-year. From 2017 to 2020, imports grew by 36%, averaging 10.8% per year. The lowest volume was in 2018 at 121.3 thousand tons, with the largest decrease of 2.2% that same year, while the biggest rise of 29.4% happened in 2019.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, milk and cream imports in volume were highly diversified. The United States accounted for 18.8% of imports, Spain for 7.4%, and Germany for 7.3%, together making up 33.4% of total flows. The remaining 66.6% came from a wide array of smaller markets.

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

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

Milk and cream imports into Latin America and the Caribbean grew for the second consecutive year. In 2020, imports were valued at 159.2 million US dollars, a 15.1% increase from the previous year. Over the 2017-2020 period, imports rose by 9.6%, with an average annual growth rate of 3.1%. The lowest value was in 2018 at 131.1 million US dollars, and the largest decline of 9.8% occurred that same year.

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

During 2017-2020, milk and cream imports in value terms were relatively evenly distributed. The United States accounted for 23.9% of imports, Germany for 6.0%, and Spain for 5.6%, together representing 35.4% of total flows.

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

World map of product's imports to Latin America and the Caribbean in value, 2017-2020