Asia: Dairy Machinery Market 2024

Dairy Machinery Market Size in Asia

In 2022, the Asian dairy machinery market decreased by -0.4% to $X, falling for the second consecutive year after four years of growth. In general, consumption, however, showed a prominent expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Dairy Machinery Production in Asia

In value terms, dairy machinery production expanded slightly to $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -15.7% against 2019 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 29%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Dairy Machinery Exports

Exports in Asia

In 2022, after three years of growth, there was significant decline in overseas shipments of dairy machinery, when their volume decreased by -36% to X units. Over the period under review, exports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2021 with an increase of 80% against the previous year. As a result, the exports reached the peak of X units, and then shrank dramatically in the following year.

In value terms, dairy machinery exports totaled $X in 2022. The total export value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 46% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey represented the main exporting country with an export of about X units, which recorded 50% of total exports. It was distantly followed by China (X units), India (X units) and the United Arab Emirates (X units), together comprising a 39% share of total exports. Singapore (X units) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +13.9% from 2012 to 2022. At the same time, the United Arab Emirates (+18.3%), India (+7.6%) and China (+2.1%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of +18.3% from 2012-2022. By contrast, Singapore (-6.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and the United Arab Emirates increased by +24 and +6.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest dairy machinery supplier in Asia, comprising 41% of total exports. The second position in the ranking was held by India ($X), with a 21% share of total exports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to +15.3%. In the other countries, the average annual rates were as follows: India (+6.8% per year) and China (-7.9% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, rising by 64% against the previous year. Over the period under review, the export price, however, showed a perceptible decrease. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.2%), while the other leaders experienced mixed trends in the export price figures.

Dairy Machinery Imports

Imports in Asia

In 2022, supplies from abroad of dairy machinery decreased by -4.4% to X units, falling for the fourth year in a row after two years of growth. Overall, imports saw a mild curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 85% against the previous year. Over the period under review, imports reached the peak figure at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, dairy machinery imports shrank to $X in 2022. Over the period under review, imports recorded a noticeable decline. The growth pace was the most rapid in 2017 when imports increased by 59%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X units), distantly followed by Malaysia (X units), Qatar (X units), Iraq (X units), Turkey (X units), the United Arab Emirates (X units) and Kazakhstan (X units) represented the major importers of dairy machinery, together constituting 51% of total imports. The following importers - Bangladesh (X units), Uzbekistan (X units), India (X units), Iran (X units), Azerbaijan (X units) and China (X units) - together made up 21% of total imports.

From 2012 to 2022, average annual rates of growth with regard to dairy machinery imports into Indonesia stood at +1.4%. At the same time, Qatar (+65.3%), Iraq (+25.7%), the United Arab Emirates (+14.2%), Malaysia (+12.6%) and Bangladesh (+4.2%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in Asia, with a CAGR of +65.3% from 2012-2022. India and Iran experienced a relatively flat trend pattern. By contrast, Kazakhstan (-3.2%), Azerbaijan (-4.8%), Turkey (-4.8%), China (-8.6%) and Uzbekistan (-20.8%) illustrated a downward trend over the same period. Qatar (+6.4 p.p.), Iraq (+5.6 p.p.), Malaysia (+5 p.p.), the United Arab Emirates (+4.3 p.p.), Uzbekistan (+3.9 p.p.), Indonesia (+3.3 p.p.) and Bangladesh (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Turkey and China saw its share reduced by -2.8% and -3.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest dairy machinery importing markets in Asia were Indonesia ($X), Turkey ($X) and Malaysia ($X), together accounting for 31% of total imports. China, the United Arab Emirates, India, Uzbekistan, Iraq, Bangladesh, Kazakhstan, Qatar, Iran and Azerbaijan lagged somewhat behind, together accounting for a further 37%.

Among the main importing countries, Qatar, with a CAGR of +43.4%, recorded the highest rates of growth with regard to 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

In 2022, the import price in Asia amounted to $X per unit, approximately equating the previous year. Over the period under review, the import price saw a mild decline. The growth pace was the most rapid in 2019 when the import price increased by 55%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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