Asia-Pacific: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Asia-Pacific

The Asia-Pacific butter and dairy spreads market was finally on the rise to reach $X in 2023, after two years of decline. The market 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. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market remained at a lower figure.

Production of Butter And Dairy Spreads in Asia-Pacific

In value terms, butter and dairy spreads production rose sharply to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; 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 X% against the previous year. The level of production peaked in 2023 and is likely to see steady growth in the near future.

The countries with the highest volumes of production in 2023 were India (X tons), New Zealand (X tons) and Pakistan (X tons), with a combined X% share of total production.

From 2012 to 2023, the biggest increases were recorded for Pakistan (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

Exports of Butter And Dairy Spreads

Exports in Asia-Pacific

After two years of growth, shipments abroad of butter and dairy spreads decreased by X% to X tons in 2023. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2015 to 2023, the growth of the exports failed to regain momentum.

In value terms, butter and dairy spreads exports reduced to $X in 2023. Total exports indicated a temperate 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of X%. The level of export peaked at $X in 2022, and then shrank in the following year.

Exports by Country

New Zealand prevails in exports structure, amounting to X tons, which was approx. X% of total exports in 2023. The following exporters - India (X tons) and Australia (X tons) - together made up X% of total exports.

New Zealand experienced a relatively flat trend pattern with regard to volume of exports of butter and dairy spreads. At the same time, India (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, Australia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of New Zealand and India increased by X and X percentage points, respectively.

In value terms, New Zealand ($X) remains the largest butter and dairy spreads supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports.

In New Zealand, butter and dairy spreads exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: India (X% per year) and Australia (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2023, declining by X% against the previous year. Export price indicated noticeable growth from 2012 to 2023: its price 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, butter and dairy spreads export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2022, and then shrank in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Australia ($X per ton), while India ($X per ton) was amongst the lowest.

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

Imports of Butter And Dairy Spreads

Imports in Asia-Pacific

In 2023, supplies from abroad of butter and dairy spreads increased by X% to X tons, rising for the third consecutive year after two years of decline. Total imports indicated a measured increase from 2012 to 2023: its volume 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, butter and dairy spreads imports contracted to $X in 2023. Overall, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2023, imports failed to regain momentum.

Imports by Country

China (X tons) and Australia (X tons) represented roughly X% of total imports in 2023. South Korea (X tons) ranks next in terms of the total imports with a X% share, followed by Taiwan (Chinese) (X%), Japan (X%), Indonesia (X%), Malaysia (X%), Singapore (X%) and Hong Kong SAR (X%).

From 2012 to 2023, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest butter and dairy spreads importing markets in Asia-Pacific were China ($X), Australia ($X) and Taiwan (Chinese) ($X), with a combined X% share of total imports. South Korea, Indonesia, Singapore, Japan, Malaysia and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia-Pacific amounted to $X per ton, dropping by X% against the previous year. Import price indicated a notable increase from 2012 to 2023: its price 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, butter and dairy spreads import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2022, and then contracted in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Singapore ($X per ton) and Indonesia ($X per ton), while Australia ($X per ton) and South Korea ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform