Overview of the Market for Sweetened Condensed And Evaporated Milk in Canada
In value terms, sweetened condensed and evaporated milk production stood at $ in 2019 estimated in export prices. Over the period under review, the total production indicated a temperate expansion from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production decreased by -% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by % year-to-year. As a result, production reached the peak level of $. From 2018 to 2019, production growth failed to regain the momentum.
The revenue of the market for condensed or evaporated milk (sweetened) in Canada shrank to $ in 2019, declining by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of % against the previous year. Sweetened condensed and evaporated milk consumption peaked at $ in 2018, and then dropped in the following year.