Skim Milk Market

The article provides an in-depth analysis of the global skim milk market, highlighting the increasing demand for skim milk worldwide. It forecasts a steady growth in consumption volume and market value with an anticipated CAGR of +1.7% and +4.3% respectively from 2022 to 2030. Details on top consuming and producing countries such as the United States, Germany, and France are provided, along with import and export trends. The article also discusses average prices and notable growth rates in various countries over the years.

Market Forecast

Driven by increasing demand for skim milk worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.7% for the period from 2022 to 2030, which is projected to bring the market volume to 155M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market value to $226.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Skim Milk

In 2022, the amount of skim milk consumed worldwide amounted to 135M tons, remaining stable against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the consumption volume increased by 3% against the previous year. Over the period under review, global consumption reached the peak volume at 137M tons in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

The global skim milk market value amounted to $161.1B in 2022, standing approx. at 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 +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the market value increased by 6.8%. Global consumption peaked at $162.3B in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (17M tons), Germany (12M tons) and France (9.4M tons), with a combined 28% share of global consumption. New Zealand, Russia, Turkey, Iran, Ireland, India, Poland, the UK, Belarus and Canada lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +6.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($19.8B) led the market, alone. The second position in the ranking was taken by New Zealand ($6B). It was followed by Iran.

In the United States, the skim milk market increased at an average annual rate of +2.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: New Zealand (-4.6% per year) and Iran (-3.8% per year).

In 2022, the highest levels of skim milk per capita consumption was registered in New Zealand (1,707 kg per person), followed by Ireland (848 kg per person), Belarus (343 kg per person) and Germany (139 kg per person), while the world average per capita consumption of skim milk was estimated at 0.2 kg per person.

From 2012 to 2022, the average annual growth rate of the skim milk per capita consumption in New Zealand was relatively modest. In the other countries, the average annual rates were as follows: Ireland (+2.6% per year) and Belarus (+2.5% per year).

Production

World Production of Skim Milk

In 2022, global production of skim milk reached 135M tons, remaining stable against the previous year's figure. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 2.9%. Over the period under review, global production hit record highs at 137M tons in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure. The general positive trend in terms output was largely conditioned by a relatively flat trend pattern of the number of producing animals and a relatively flat trend pattern in yield figures.

In value terms, skim milk production reduced slightly to $103.4B in 2022 estimated in export price. Over the period under review, production, however, recorded a mild slump. The pace of growth appeared the most rapid in 2013 when the production volume increased by 80%. As a result, production reached the peak level of $224.8B. From 2014 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (17M tons), Germany (12M tons) and France (9.5M tons), together comprising 28% of global production. New Zealand, Russia, Turkey, Iran, Ireland, India, the UK, the Netherlands, Poland and Belarus lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +6.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Skim Milk

In 2022, the amount of skim milk imported worldwide fell to 1.4M tons, with a decrease of -12% compared with the previous year's figure. Over the period under review, imports saw a mild reduction. The pace of growth appeared the most rapid in 2017 with an increase of 15%. As a result, imports attained the peak of 1.7M tons. From 2018 to 2022, the growth of global imports remained at a somewhat lower figure.

In value terms, skim milk imports reduced sharply to $962M in 2022. The total import value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 14% against the previous year. Over the period under review, global imports reached the maximum at $1.2B in 2021, and then reduced rapidly in the following year.

Imports By Country

In 2022, Belgium (327K tons), distantly followed by Italy (198K tons), Germany (144K tons), the Netherlands (103K tons), China (100K tons) and the United Arab Emirates (81K tons) were the main importers of skim milk, together achieving 67% of total imports. Poland (38K tons), Mauritania (36K tons), Kuwait (33K tons), the UK (29K tons) and Botswana (23K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the United Arab Emirates (with a CAGR of +42.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Belgium ($206M), the Netherlands ($136M) and Italy ($79M) constituted the countries with the highest levels of imports in 2022, with a combined 44% share of global imports. China, the United Arab Emirates, Germany, Kuwait, Poland, the UK, Botswana and Mauritania lagged somewhat behind, together accounting for a further 30%.

In terms of the main importing countries, the United Arab Emirates, with a CAGR of +40.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average skim milk import price amounted to $681 per ton, with a decrease of -5.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2020 an increase of 19%. Global import price peaked at $720 per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($1,316 per ton), while Mauritania ($379 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+15.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Skim Milk

In 2022, shipments abroad of skim milk decreased by -0.2% to 1.3M tons, falling for the third consecutive year after three years of growth. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 28%. As a result, the exports attained the peak of 1.8M tons. From 2014 to 2022, the growth of the global exports failed to regain momentum.

In value terms, skim milk exports reduced to $752M in 2022. Overall, total exports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -19.6% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by 52%. As a result, the exports reached the peak of $989M. From 2014 to 2022, the growth of the global exports remained at a lower figure.

Exports By Country

Saudi Arabia (231K tons), Germany (170K tons), the Netherlands (169K tons), France (140K tons) and Austria (108K tons) represented roughly 62% of total exports in 2022. Ireland (59K tons), Belgium (55K tons), Latvia (43K tons), South Africa (39K tons), the Czech Republic (29K tons), Denmark (27K tons), Egypt (25K tons) and Slovakia (20K tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +21.3%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($191M) remains the largest skim milk supplier worldwide, comprising 25% of global exports. The second position in the ranking was taken by Germany ($84M), with an 11% share of global exports. It was followed by the Netherlands, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia totaled +15.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (-4.0% per year) and the Netherlands (+17.1% per year).

Export Prices By Country

The average skim milk export price stood at $571 per ton in 2022, reducing by -5.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2013 an increase of 19% against the previous year. Over the period under review, the average export prices attained the peak figure at $607 per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($828 per ton), while Slovakia ($280 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+5.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform