Asia-Pacific: Skim Milk Market 2024

Skim Milk Market Size in Asia-Pacific

The Asia-Pacific skim milk market rose slightly to $X in 2023, with an increase of X% against the previous year. In general, consumption showed a pronounced decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Skim Milk Production in Asia-Pacific

In value terms, skim milk production expanded to $X in 2023 estimated in export price. Overall, production saw a pronounced decrease. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

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

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

Skim Milk Exports

Exports in Asia-Pacific

In 2023, overseas shipments of skim milk decreased by X% to X tons, falling for the third year in a row after five years of growth. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, skim milk exports dropped sharply to $X in 2023. Over the period under review, exports continue to indicate a slight decline. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Australia (X tons) and New Zealand (X tons) prevails in exports structure, together mixing up X% of total exports. It was distantly followed by Thailand (X tons), generating a X% share of total exports. The following exporters - Indonesia (X tons) and South Korea (X tons) - each recorded a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by New Zealand (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Australia ($X), New Zealand ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2023, together comprising X% of total exports.

New Zealand, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the export price, however, saw a pronounced setback. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2023, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while New Zealand ($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 a decline in the export price figures.

Skim Milk Imports

Imports in Asia-Pacific

In 2023, supplies from abroad of skim milk decreased by X% to X tons, falling for the fourth consecutive year after eight years of growth. Over the period under review, imports, however, continue to indicate pronounced growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, skim milk imports dropped significantly to $X in 2023. Total imports indicated a notable 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, imports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2023, imports failed to regain momentum.

Imports by Country

China dominates imports structure, reaching X tons, which was near X% of total imports in 2023. It was distantly followed by the Philippines (X tons), Fiji (X tons), Cambodia (X tons) and Samoa (X tons), together generating a X% share of total imports. Singapore (X tons), Brunei Darussalam (X tons) and Australia (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to skim milk imports into China stood at X%. At the same time, Fiji (X%), Cambodia (X%), Australia (X%), Brunei Darussalam (X%) and Samoa (X%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, the Philippines (X%) and Singapore (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Fiji (X p.p.), Cambodia (X p.p.) and Samoa (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Singapore (X p.p.) and the Philippines (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported skim milk in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Cambodia ($X), with an X% share of total imports. It was followed by Fiji, with a X% share.

From 2012 to 2023, the average annual growth rate of value in China stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Cambodia (X% per year) and Fiji (X% per year).

Import Prices by Country

In 2023, the import price in Asia-Pacific amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price, however, recorded a slight downturn. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2023, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Brunei Darussalam ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform