ASEAN: Dairy Spread Market 2025

Dairy Spread Market Size in ASEAN

The ASEAN dairy spread market dropped slightly to $X in 2022, reducing by -3.2% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Dairy Spread Production in ASEAN

In value terms, dairy spread production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 21%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Dairy Spread Exports

Exports in ASEAN

For the fifth consecutive year, ASEAN recorded decline in overseas shipments of dairy spreads, which decreased by -14.9% to X tons in 2022. Overall, exports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 when exports increased by 45% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, dairy spread exports reduced slightly to $X in 2022. In general, exports saw a drastic downturn. The pace of growth appeared the most rapid in 2014 when exports increased by 45%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Philippines was the largest exporting country with an export of about X tons, which reached 56% of total exports. Malaysia (X tons) held the second position in the ranking, distantly followed by Singapore (X tons) and Thailand (X tons). All these countries together took near 43% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +51.8%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the Philippines ($X) remains the largest dairy spread supplier in ASEAN, comprising 55% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 25% share of total exports. It was followed by Singapore, with a 17% share.

From 2012 to 2022, the average annual growth rate of value in the Philippines stood at +61.2%. In the other countries, the average annual rates were as follows: Malaysia (-11.0% per year) and Singapore (-13.9% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, rising by 13% against the previous year. Export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy spread export price increased by +78.8% against 2015 indices. The most prominent rate of growth was recorded in 2019 an increase of 36%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+7.4%), while the other leaders experienced more modest paces of growth.

Dairy Spread Imports

Imports in ASEAN

Dairy spread imports declined to X tons in 2022, waning by -9.2% against the previous year's figure. Over the period under review, imports continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2019 when imports increased by 55%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, dairy spread imports dropped to $X in 2022. Overall, imports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2019 with an increase of 53%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Lao People's Democratic Republic (X tons), Malaysia (X tons), Myanmar (X tons), Indonesia (X tons) and Singapore (X tons) represented roughly 83% of total imports in 2022. Vietnam (X tons) held a 5.9% share (based on physical terms) of total imports, which put it in second place, followed by Cambodia (5.9%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar (with a CAGR of +45.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest dairy spread importing markets in ASEAN were Malaysia ($X), Indonesia ($X) and Lao People's Democratic Republic ($X), with a combined 64% share of total imports. Singapore, Vietnam, Myanmar and Cambodia lagged somewhat behind, together comprising a further 29%.

Myanmar, with a CAGR of +16.7%, saw the highest growth rate of the value of imports, among 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

The import price in ASEAN stood at $X per ton in 2022, growing by 7.2% against the previous year. Overall, the import price, however, saw a mild decline. The pace of growth was the most pronounced in 2017 when the import price increased by 21%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 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 Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform