Asia: Dairy Produce Market 2024

Dairy Produce Market Size in Asia

In 2023, the Asian dairy produce market decreased by X% to $X, falling for the second year in a row after six years of growth. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Dairy Produce Production in Asia

In value terms, dairy produce production rose slightly to $X.3B in 2023 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, production hit record highs in 2023 and is expected to retain growth in years to come.

Dairy Produce Exports

Exports in Asia

In 2023, after three years of decline, there was significant growth in overseas shipments of dairy produce, when their volume increased by X% to X tons. Overall, exports, however, recorded a slight decline. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, dairy produce exports fell modestly to $X in 2023. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

Saudi Arabia was the largest exporter of dairy produce in Asia, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2023. Thailand (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (X%), the United Arab Emirates (X%) and Kuwait (X%). Turkey (X tons), Oman (X tons), India (X tons), Singapore (X tons), Kyrgyzstan (X tons), Indonesia (X tons), Vietnam (X tons) and Bahrain (X tons) held a minor share of total exports.

Exports from Saudi Arabia decreased at an average annual rate of X% from 2012 to 2023. At the same time, Vietnam (X%), Kuwait (X%), Bahrain (X%), Kyrgyzstan (X%), Thailand (X%), the United Arab Emirates (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. Malaysia experienced a relatively flat trend pattern. By contrast, India (X%), Indonesia (X%), Oman (X%) and Singapore (X%) illustrated a downward trend over the same period. Thailand (X p.p.), Kuwait (X p.p.), the United Arab Emirates (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Saudi Arabia saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) emerged as the largest dairy produce supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

In Saudi Arabia, dairy produce exports shrank by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, shrinking by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2022 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then contracted dramatically in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Dairy Produce Imports

Imports in Asia

In 2023, the amount of dairy produce imported in Asia fell slightly to X tons, waning by X% on the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, dairy produce imports fell modestly to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X tons), distantly followed by the Philippines (X tons), the United Arab Emirates (X tons), Indonesia (X tons), Malaysia (X tons) and Singapore (X tons) were the main importers of dairy produce, together generating X% of total imports. Hong Kong SAR (X tons), Oman (X tons), South Korea (X tons), Japan (X tons), Saudi Arabia (X tons), Kuwait (X tons) and Taiwan (Chinese) (X tons) held a little share of total imports.

From 2012 to 2023, average annual rates of growth with regard to dairy produce imports into China stood at X%. At the same time, Kuwait (X%), South Korea (X%), the Philippines (X%), Malaysia (X%), Taiwan (Chinese) (X%), the United Arab Emirates (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. Oman, Japan, Hong Kong SAR and Singapore experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Philippines and South Korea increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported dairy produce in Asia, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by the Philippines, with a X% share.

From 2012 to 2023, the average annual growth rate of value in China amounted to X%. In the other countries, the average annual rates were as follows: Indonesia (X% per year) and the Philippines (X% per year).

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform