ASEAN: Baby Food Market 2024

Baby Food Market Size in ASEAN

The ASEAN baby food market dropped to $X in 2021, which is down by -7.8% against the previous year. Overall, consumption showed a noticeable downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Baby Food Production in ASEAN

In value terms, baby food production reduced to $X in 2021 estimated in export price. In general, production saw a perceptible decline. The most prominent rate of growth was recorded in 2020 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Baby Food Exports

Exports in ASEAN

In 2021, after two years of growth, there was decline in shipments abroad of food preparations for infants, when their volume decreased by -0.1% to X tons. Total exports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +83.1% against 2016 indices. The pace of growth was the most pronounced in 2020 with an increase of 33% against the previous year. As a result, the exports attained the peak of X tons, leveling off in the following year.

In value terms, baby food exports contracted to $X in 2021. In general, exports saw a slight shrinkage. The growth pace was the most rapid in 2020 when exports increased by 23%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the five major exporters of food preparations for infants, namely Singapore, Thailand, Indonesia, the Philippines and Malaysia, represented more than two-thirds of total export.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Indonesia (with a CAGR of +16.7%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest baby food supplier in ASEAN, comprising 48% of total exports. The second position in the ranking was held by Thailand ($X), with a 17% share of total exports. It was followed by Indonesia, with a 12% share.

In Singapore, baby food exports decreased by an average annual rate of -5.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+4.4% per year) and Indonesia (+17.5% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, shrinking by -9% against the previous year. In general, the export price continues to indicate a deep downturn. The growth pace was the most rapid in 2018 an increase of 14%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+6.7%), while the other leaders experienced more modest paces of growth.

Baby Food Imports

Imports in ASEAN

Baby food imports declined slightly to X tons in 2021, with a decrease of -2.9% against 2020 figures. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 14%. Over the period under review, imports hit record highs at X tons in 2020, and then declined in the following year.

In value terms, baby food imports amounted to $X in 2021. The total import value increased at an average annual rate of +5.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 14% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

Imports by Country

Malaysia represented the largest importer of food preparations for infants in ASEAN, with the volume of imports recording X tons, which was near 46% of total imports in 2021. Vietnam (X tons) held a 24% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (9.1%), Indonesia (7.5%), Cambodia (4.9%) and Thailand (4.6%). Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +20.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Malaysia ($X) and the Philippines ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 73% of total imports. These countries were followed by Indonesia, Cambodia, Thailand and Myanmar, which together accounted for a further 25%.

In terms of the main importing countries, Cambodia, with a CAGR of +19.5%, saw the highest growth rate of 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

The import price in ASEAN stood at $X per ton in 2021, surging by 4.3% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2014 an increase of 12% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Cambodia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+9.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform