ASEAN: Dairy Machinery Market 2024

Dairy Machinery Market Size in ASEAN

The ASEAN dairy machinery market skyrocketed to $X in 2022, jumping by 24% against the previous year. The total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +6.5% against 2018 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Dairy Machinery Production in ASEAN

In value terms, dairy machinery production expanded rapidly to $X in 2022 estimated in export price. Overall, production saw a resilient expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 76%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Dairy Machinery Exports

Exports in ASEAN

In 2022, the amount of dairy machinery exported in ASEAN surged to X units, growing by 49% on the previous year's figure. In general, exports, however, continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2020 when exports increased by 158% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, dairy machinery exports surged to $X in 2022. Over the period under review, exports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2020 when exports increased by 196% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X units) and Thailand (X units) represented the key exporters of dairy machinery in 2022, resulting at approx. 44% and 33% of total exports, respectively. It was distantly followed by Malaysia (X units), committing a 15% share of total exports. The following exporters - Vietnam (X units) and Indonesia (X units) - each recorded a 6% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Thailand (with a CAGR of +19.6%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) emerged as the largest dairy machinery supplier in ASEAN, comprising 58% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 19% share of total exports. It was followed by Thailand, with an 18% share.

In Singapore, dairy machinery exports shrank by an average annual rate of -6.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+0.6% per year) and Thailand (+10.6% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, surging by 14% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 19% against the previous year. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.5%), while the other leaders experienced more modest paces of growth.

Dairy Machinery Imports

Imports in ASEAN

In 2022, the amount of dairy machinery imported in ASEAN skyrocketed to X units, rising by 94% against 2021. Over the period under review, imports recorded a relatively flat trend pattern. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, dairy machinery imports soared to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X units) was the largest importer of dairy machinery, mixing up 53% of total imports. It was distantly followed by Malaysia (X units), Vietnam (X units) and the Philippines (X units), together comprising a 40% share of total imports. The following importers - Thailand (X units) and Singapore (X units) - each finished at a 6.2% share of total imports.

Imports into Indonesia increased at an average annual rate of +1.4% from 2012 to 2022. At the same time, Malaysia (+12.6%) and Singapore (+6.1%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +12.6% from 2012-2022. The Philippines experienced a relatively flat trend pattern. By contrast, Thailand (-7.3%) and Vietnam (-11.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia and Indonesia increased by +17 and +5.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X), Malaysia ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 83% of total imports.

Among the main importing countries, Malaysia, with a CAGR of +13.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, increasing by 11% against the previous year. In general, the import price, however, recorded a mild decline. The most prominent rate of growth was recorded in 2020 when the import price increased by 15% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform