Market research

Milk powder market in Latin America and the Caribbean

Release date: Mar 30, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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"Latin America and the Caribbean" region includes following countries:

Argentina

Bolivia

Bouvet Island

Brazil

Chile

Colombia

Ecuador

Falkland Islands (Malvinas)

South Georgia and the South Sandwich Islands

French Guiana

Guyana

Paraguay

Peru

Suriname

Uruguay

Venezuela

Belize

Costa Rica

El Salvador

Guatemala

Honduras

Mexico

Nicaragua

Panama

Antigua and Barbuda

the Bahamas

Barbados

British Virgin Islands

Cayman Islands

Cuba

Dominica

Dominican Republic

Grenada

Guadeloupe

Haiti

Jamaica

Martinique

Montserrat

Curacao

Aruba

Saint Maarten (Dutch part)

Bonaire

Puerto Rico

Saint-Barthélemy

Saint Kitts and Nevis

Anguilla

Saint Lucia

Saint-Martin (French Part)

Saint Vincent and the Grenadines

Trinidad and Tobago

Turks and Caicos Islands

United States Virgin Islands

Earlier Report Observations

The Latin American milk powder market expanded from 1.72 million tonnes in 2018 to 1.79 million tonnes in 2020, with value rising from USD 5.33 billion to USD 6.61 billion. This growth was initially supported by Brazil's implementation of the Mercosur technical regulation for powder quality and traceability, standardizing regional trade. The COVID-19 pandemic in 2020 then reduced fresh milk production in Brazil, increasing reliance on powder as a substitute and boosting overall consumption.

Market volume contracted to 1.62 million tonnes in 2021 as record-high international prices encouraged export-oriented shipments from Argentina, reducing domestic availability. A recovery followed in 2022, with volume reaching 1.66 million tonnes and value peaking at USD 6.96 billion, driven by increased production in Chile and strong import demand in Brazil amid prices nearing USD 5,000 per tonne. However, 2023 saw a decline to 1.63 million tonnes and USD 6.20 billion as falling milk prices in Brazil and a consumer shift toward fresh products in Chile dampened powder demand.

Early 2024 indicators from Chile showed sustained production growth, while in Mexico, powder consumption increased due to its affordability and long shelf life compared to fresh milk, pointing toward potential market stabilization after recent fluctuations.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
  2. 4.1.2. In value
    1. 4.1.2.1. Production, 2018-2023
    2. 4.1.2.2. Imports, 2018-2024
    3. 4.1.2.3. Exports, 2018-2024
    4. 4.1.2.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Latin America and the Caribbean
  1. 5.1.1. Annual dynamics of production in Latin America and the Caribbean in kind, 2018-2023, K t
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, K t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Exports
1. 6.1. Exports (Direct Data*)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's exports from Argentina in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's exports in kind from Argentina by countries, 2018-2024, K t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.1.3. Exports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Argentina in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Argentina by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's exports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Argentina, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's exports from Argentina by countries, 2018-2024, $ US/t
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's exports from Argentina in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's exports in kind from Argentina by countries, 2018-2024, K t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.2.3. Exports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Argentina in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Argentina by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's exports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Argentina, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's exports from Argentina by countries, 2018-2024, $ US/t
7. Imports
1. 7.1. Imports (Direct Data*)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's imports to Argentina in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's imports in kind to Argentina by countries, 2018-2024, K t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.1.3. Imports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Argentina in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Argentina by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's imports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Argentina, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's imports to Argentina by countries, 2018-2024, $ US/t
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's imports to Argentina in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's imports in kind to Argentina by countries, 2018-2024, K t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.2.3. Imports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Argentina in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Argentina by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's imports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Argentina, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's imports to Argentina by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production milk powder in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of milk powder, 2017-2020

Source: SHEV.io

World map of production of milk powder, 2017-2020

Source: SHEV.io

Milk powder production in Latin America and the Caribbean has grown for the third year in a row. In 2020, the region produced 1,418 thousand tons of milk powder, marking a modest increase of 3.6% compared to 2019. Looking at the period from 2017 to 2020, production rose by 8.5%, which translates to an average annual growth rate of 2.7%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	4.0%	0.7%	3.6%	2.7%

Source: SHEV.io

In value, 2017-2020, M $ US

Following a two-year decline, milk powder production in Latin America and the Caribbean rebounded. In 2020, the output was valued at 5,692 million US dollars, representing a significant jump of 26.7% from 2019. Over the 2017-2020 span, production increased by 12.9%, with an average annual rate of 4.1%. The lowest value was recorded in 2019 at 4,492 million US dollars, while the largest drop occurred in 2018 with a 9.6% decrease.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(9.6%)	(1.4%)	26.7%	4.1%

Source: SHEV.io

Exports milk powder from Latin America and the Caribbean

Exports in kind, K t

Milk powder exports from Latin America and the Caribbean fell for the second consecutive year. In 2020, shipments totaled 284.2 thousand tons, showing a moderate decline of 4.2% from 2019. Between 2017 and 2020, exports grew by 16.4%, averaging 5.2% per year. The peak was in 2018 at 339.2 thousand tons, with the largest decrease of 12.6% in 2019 and the biggest increase of 38.9% in 2018.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	38.9%	(12.6%)	(4.2%)	5.2%

Source: SHEV.io

An analysis of milk powder export volumes from 2017 to 2020 reveals a wide distribution across numerous markets. Algeria accounted for 33.2% of exports, Russia for 4.5%, and China for 4.0%, together making up 41.7% of total flows. The remaining 58.3% went to other trading partners.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, M $ US

In 2020, milk powder exports from Latin America and the Caribbean reached 1,141 million US dollars, reflecting a strong increase of 17.3% compared to 2019. From 2017 to 2020, exports rose by 21.1%, with a compound annual growth rate of 6.6%. The largest decline was in 2019 at 14.4%, while the biggest gain was in 2018 at 20.7%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	20.7%	(14.4%)	17.3%	6.6%

Source: SHEV.io

From 2017 to 2020, milk powder export values from Latin America and the Caribbean were spread across a broad range of markets. Algeria held 33.0% of the value, Russia 4.3%, and China 3.9%, collectively accounting for 41.2% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports milk powder to Latin America and the Caribbean

Imports in kind, K t

Milk powder imports into Latin America and the Caribbean decreased for the second year in a row. In 2020, the region imported 659.3 thousand tons, a slight drop of 2.1% from 2019. The highest volume was in 2018 at 699.0 thousand tons, with the largest decline of 3.7% in 2019 and the biggest increase of 5.8% in 2018.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	5.8%	(3.7%)	(2.1%)	(0.1%)

Source: SHEV.io

Between 2017 and 2020, the United States dominated milk powder imports into Latin America and the Caribbean, representing 53.9% of the volume. New Zealand followed with 7.3%, and the Netherlands with 2.6%. Together, these three countries accounted for 63.8% of total import flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, M $ US

In 2020, Latin America and the Caribbean imported milk powder worth 2,062 million US dollars, an 11.0% increase from 2019. Over the 2017-2020 period, imports grew by 13%, with a compound annual growth rate of 4.2%. The largest decrease was in 2019 at 2.7%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	4.6%	(2.7%)	11.0%	4.2%

Source: SHEV.io

From 2017 to 2020, the United States was the leading source for milk powder imports into Latin America and the Caribbean in value terms, with a 46.8% share. New Zealand contributed 8.8%, and the Netherlands 3.2%, forming a key cluster that made up 58.8% of total import flows.

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

Source: SHEV.io

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

Source: SHEV.io