Eastern Asia: Dairy Produce Market 2024

Dairy Produce Market Size in Eastern Asia

The East Asian dairy produce market dropped modestly to $X in 2023, shrinking by X% against the previous year. Overall, consumption showed a slight descent. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Dairy Produce Production in Eastern Asia

In value terms, dairy produce production amounted to $X in 2023 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the production volume increased by X%. Over the period under review, production reached the peak level in 2023 and is likely to see steady growth in the near future.

Dairy Produce Exports

Exports in Eastern Asia

In 2023, shipments abroad of dairy produce increased by X% to X tons, rising for the second year in a row after three years of decline. Total exports indicated noticeable growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2016 when exports increased by X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, dairy produce exports shrank to $X in 2023. Over the period under review, exports enjoyed a remarkable increase. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China was the key exporting country with an export of about X tons, which accounted for X% of total exports. Hong Kong SAR (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (X%) and Japan (X%). Taiwan (Chinese) (X tons) took a relatively small 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 Japan (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the largest dairy produce supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Hong Kong SAR totaled X%. In the other countries, the average annual rates were as follows: China (X% per year) and Japan (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, the export price, however, posted a temperate expansion. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2023, the export prices failed to regain momentum.

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

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

Dairy Produce Imports

Imports in Eastern Asia

In 2023, purchases abroad of dairy produce decreased by X% to X tons, falling for the second year in a row after six years of growth. Total imports indicated a resilient 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 decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, dairy produce imports fell to $X in 2023. Total imports indicated resilient growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

China prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2023. Japan (X tons) took the second position in the ranking, followed by South Korea (X tons), Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons). All these countries together held approx. X% share of total imports.

China was also the fastest-growing in terms of the dairy produce imports, with a CAGR of X% from 2012 to 2023. At the same time, South Korea (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Japan and Hong Kong SAR experienced a relatively flat trend pattern. While the share of China (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Hong Kong SAR (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, dairy produce imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Asia amounted to $X per ton, remaining constant against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

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 Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was 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 mixed trends in the import price figures.

Source: IndexBox Platform