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IndexBox has just published a new report: ‘U.S. – Lactose And Lactose Syrup – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.
The U.S. remains the leading supplier of lactose and lactose syrup with a 36%-share in global exports. While the volume of lactose shipments from the U.S. was almost unchanged from the previous year, exports in value terms jumped by 8% to $396, as the average exports price has significantly risen. Despite the trade tensions, China remains the key importer of lactose from the U.S., followed by New Zealand and Japan.
Exports from the U.S. by Country
The U.S. remains the largest exporter of lactose and lactose syrup worldwide, accounting for 36% of the global exports. In 2020, lactose exports from the U.S. fell modestly to 379K tonnes, standing approx. at the year before. In value terms, lactose exports expanded rapidly by +8.2% to $396M (IndexBox estimates) in 2020.
In 2020, the average lactose export price amounted to $1,045 per tonne, with an increase of +8.3% against the previous year. There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was Canada ($1,314 per tonne), while the average price for exports to Viet Nam ($857 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was recorded for supplies to Viet Nam, while the prices for the other major destinations experienced more modest paces of growth.
China (69K tonnes), New Zealand (46K tonnes) and Japan (42K tonnes) were the main destinations of lactose exports from the U.S., together comprising 41% of total exports. Mexico, Indonesia, Viet Nam, the Philippines, South Korea, India, Singapore, Thailand, Canada and Brazil lagged somewhat behind, together accounting for a further 46%.
In 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand, while exports for the other leaders experienced more modest paces of growth.
In value terms, China ($74M), New Zealand ($48M) and Japan ($41M) were the largest markets for lactose exported from the U.S. worldwide, together accounting for 41% of total exports. Mexico, Indonesia, South Korea, India, the Philippines, Viet Nam, Thailand, Singapore, Canada and Brazil lagged somewhat behind, together comprising a further 44%.
Source: IndexBox Platform