ASEAN: Whole Fresh Milk Market 2024

Whole Fresh Milk Market Size in ASEAN

The ASEAN whole fresh milk market totaled $X in 2022, approximately mirroring the previous year. In general, consumption, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the market value increased by 8.6%. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Whole Fresh Milk Production in ASEAN

In value terms, whole fresh milk production reached $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 10% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Myanmar (X tons), Indonesia (X tons) and Thailand (X tons), with a combined 80% share of total production. These countries were followed by Vietnam, which accounted for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Vietnam (with a CAGR of +10.1%), while production for the other leaders experienced more modest paces of growth.

Whole Fresh Milk Exports

Exports in ASEAN

After three years of growth, shipments abroad of whole fresh milk decreased by -2.4% to X tons in 2022. Over the period under review, exports, however, posted a prominent increase. The pace of growth was the most pronounced in 2019 when exports increased by 91% against the previous year. The volume of export peaked at X tons in 2021, and then declined modestly in the following year.

In value terms, whole fresh milk exports contracted to $X in 2022. In general, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 74%. The level of export peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Thailand was the largest exporting country with an export of around X tons, which accounted for 82% of total exports. Malaysia (X tons) held the second position in the ranking, followed by Indonesia (X tons). All these countries together held approx. 16% share of total exports.

Thailand was also the fastest-growing in terms of the whole fresh milk exports, with a CAGR of +21.0% from 2012 to 2022. Malaysia experienced a relatively flat trend pattern. Indonesia (-10.5%) illustrated a downward trend over the same period. Thailand (+55 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Indonesia saw its share reduced by -15.4% and -34.7% from 2012 to 2022, respectively.

In value terms, Thailand ($X) remains the largest whole fresh milk supplier in ASEAN, comprising 86% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 7.9% share of total exports.

In Thailand, whole fresh milk exports expanded at an average annual rate of +18.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-3.9% per year) and Indonesia (-10.7% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, waning by -7.9% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 9.5%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-0.2%), while the other leaders experienced a decline in the export price figures.

Whole Fresh Milk Imports

Imports in ASEAN

Whole fresh milk imports expanded remarkably to X tons in 2022, surging by 10% on the previous year. In general, imports saw a resilient expansion. The pace of growth was the most pronounced in 2019 when imports increased by 32% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, whole fresh milk imports rose markedly to $X in 2022. Over the period under review, imports continue to indicate strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 27%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

The Philippines (X tons) and Singapore (X tons) were the main importers of whole fresh milk in 2022, resulting at near 43% and 30% of total imports, respectively. Vietnam (X tons) held the next position in the ranking, followed by Malaysia (X tons). All these countries together held approx. 22% share of total imports. The following importers - Cambodia (X tons) and Indonesia (X tons) - each resulted at a 4.4% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Indonesia (with a CAGR of +38.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest whole fresh milk importing markets in ASEAN were Singapore ($X), the Philippines ($X) and Vietnam ($X), together comprising 85% of total imports. Malaysia, Cambodia and Indonesia lagged somewhat behind, together accounting for a further 14%.

Indonesia, with a CAGR of +32.2%, saw the highest rates of growth with regard to 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, dropping by -1.9% against the previous year. Over the period under review, the import price recorded a mild setback. The growth pace was the most rapid in 2021 when the import price increased by 6.2%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 ($X per ton), while the Philippines ($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 (+0.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform