ASEAN: Yoghurt Market 2024

Yoghurt Market Size in ASEAN

The ASEAN yoghurt market shrank slightly to $X in 2022, remaining constant against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 7.8%. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Yoghurt Production in ASEAN

In value terms, yoghurt production declined to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced setback. The growth pace was the most rapid in 2021 when the production volume increased by 11% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Yoghurt Exports

Exports in ASEAN

In 2022, approx. X tons of yoghurt were exported in ASEAN; waning by -82.9% compared with the year before. Over the period under review, exports faced a drastic downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 57% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, yoghurt exports reduced remarkably to $X in 2022. Overall, exports saw a deep downturn. The pace of growth appeared the most rapid in 2015 with an increase of 67%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam represented the largest exporter of yoghurt in ASEAN, with the volume of exports resulting at X tons, which was approx. 52% of total exports in 2022. Malaysia (X tons) took a 25% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (19%). Singapore (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the yoghurt exports, with a CAGR of +71.9% from 2012 to 2022. At the same time, Indonesia (+13.8%) and Singapore (+7.7%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. Vietnam (+52 p.p.), Indonesia (+18 p.p.), Malaysia (+17 p.p.) and Singapore (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest yoghurt supplier in ASEAN, comprising 60% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 20% share of total exports. It was followed by Indonesia, with a 15% share.

In Vietnam, yoghurt exports expanded at an average annual rate of +65.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-3.5% per year) and Indonesia (+17.3% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, surging by 36% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.2%), while the other leaders experienced mixed trends in the export price figures.

Yoghurt Imports

Imports in ASEAN

In 2022, supplies from abroad of yoghurt decreased by -4.5% to X tons, falling for the second consecutive year after three years of growth. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -5.2% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 36% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, yoghurt imports declined to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.4% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 32%. Over the period under review, imports reached the maximum at $X in 2021, and then reduced slightly in the following year.

Imports by Country

In 2022, Cambodia (X tons), Singapore (X tons), Lao People's Democratic Republic (X tons), the Philippines (X tons), Vietnam (X tons) and Myanmar (X tons) was the main importer of yoghurt in ASEAN, mixing up 91% of total import. Malaysia (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +65.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Cambodia ($X) and the Philippines ($X) were the countries with the highest levels of imports in 2022, with a combined 61% share of total imports.

Cambodia, with a CAGR of +61.5%, saw the highest growth rate of the value of imports, in terms of 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, surging by 3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2017 an increase of 27%. Over the period under review, import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform