ASEAN: Skim Milk Market 2024

Skim Milk Market Size in ASEAN

In 2021, after nine years of growth, there was significant decline in the ASEAN skim milk market, when its value decreased by -6.2% to $X. In general, consumption posted a buoyant increase. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Skim Milk Production in ASEAN

In value terms, skim milk production fell to $X in 2021 estimated in export price. Over the period under review, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 25%. The level of production peaked at $X in 2020, and then declined in the following year.

Myanmar (X tons) remains the largest skim milk producing country in ASEAN, accounting for 86% of total volume. Moreover, skim milk production in Myanmar exceeded the figures recorded by the second-largest producer, Thailand (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume in Myanmar stood at +3.8%. In the other countries, the average annual rates were as follows: Thailand (+5.5% per year) and Indonesia (-0.0% per year).

Skim Milk Exports

Exports in ASEAN

In 2021, shipments abroad of skim milk decreased by -14.4% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports, however, saw a modest increase. The pace of growth appeared the most rapid in 2013 with an increase of 48%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, skim milk exports reduced to $X in 2021. In general, exports recorded a mild setback. The most prominent rate of growth was recorded in 2020 when exports increased by 65% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand represented the main exporting country with an export of around X tons, which finished at 56% of total exports. Indonesia (X tons) took a 16% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (15%) and Singapore (11%).

From 2012 to 2021, average annual rates of growth with regard to skim milk exports from Thailand stood at +5.0%. At the same time, Indonesia (+34.7%) and Malaysia (+6.6%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +34.7% from 2012-2021. By contrast, Singapore (-12.4%) illustrated a downward trend over the same period. While the share of Indonesia (+15 p.p.), Thailand (+14 p.p.) and Malaysia (+5.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-31.8 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest skim milk supplier in ASEAN, comprising 53% of total exports. The second position in the ranking was held by Indonesia ($X), with a 16% share of total exports. It was followed by Singapore, with a 16% share.

From 2012 to 2021, the average annual growth rate of value in Thailand totaled +3.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+44.9% per year) and Singapore (-15.0% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, growing by 6.6% against the previous year. Over the period under review, the export price, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2020 when the export price increased by 40%. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+7.6%), while the other leaders experienced mixed trends in the export price figures.

Skim Milk Imports

Imports in ASEAN

In 2021, overseas purchases of skim milk were finally on the rise to reach X tons after four years of decline. Total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 73% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, skim milk imports surged to $X in 2021. Total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +20.2% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 73% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Singapore (X tons) and the Philippines (X tons) represented the main importers of skim milk in 2021, resulting at approx. 28% and 28% of total imports, respectively. Cambodia (X tons) ranks next in terms of the total imports with an 18% share, followed by Vietnam (6.8%), Lao People's Democratic Republic (6.2%) and Myanmar (5.1%). Malaysia (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Lao People's Democratic Republic (with a CAGR of +24.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported skim milk in ASEAN, comprising 48% of total imports. The second position in the ranking was held by Cambodia ($X), with a 17% share of total imports. It was followed by the Philippines, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore amounted to +7.8%. In the other countries, the average annual rates were as follows: Cambodia (+13.4% per year) and the Philippines (-7.6% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the import price increased by 51%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+0.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform