Asia: Market for Butter And Dairy Spreads 2025

Market Size for Butter And Dairy Spreads in Asia

For the third year in a row, the Asian butter and dairy spreads market recorded growth in sales value, which increased by 14% to $X in 2022. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +17.7% against 2018 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Production of Butter And Dairy Spreads in Asia

In value terms, butter and dairy spreads production reached $X in 2022 estimated in export price. Overall, production showed a modest increase. The pace of growth appeared the most rapid in 2015 with an increase of 55%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of butter and dairy spreads production was India (X tons), comprising approx. 65% of total volume. Moreover, butter and dairy spreads production in India exceeded the figures recorded by the second-largest producer, Turkey (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume in India was relatively modest. In the other countries, the average annual rates were as follows: Turkey (+664.6% per year) and Kyrgyzstan (+14.2% per year).

Exports of Butter And Dairy Spreads

Exports in Asia

In 2022, shipments abroad of butter and dairy spreads increased by 66% to X tons, rising for the second consecutive year after two years of decline. Overall, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 130%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, butter and dairy spreads exports surged to $X in 2022. In general, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2015 when exports increased by 150%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

India (X tons) and Turkey (X tons) were the key exporters of butter and dairy spreads in 2022, amounting to approx. 30% and 20% of total exports, respectively. Saudi Arabia (X tons) held the next position in the ranking, followed by Kyrgyzstan (X tons), Kazakhstan (X tons), the United Arab Emirates (X tons) and Armenia (X tons). All these countries together held approx. 33% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Armenia (with a CAGR of +62.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest butter and dairy spreads supplying countries in Asia were India ($X), Turkey ($X) and Saudi Arabia ($X), with a combined 63% share of total exports. Kazakhstan, Armenia, Kyrgyzstan and the United Arab Emirates lagged somewhat behind, together accounting for a further 21%.

Among the main exporting countries, Armenia, with a CAGR of +62.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, increasing by 8.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. The pace of growth was the most pronounced in 2017 when the export price increased by 26%. The level of export peaked in 2022 and is expected to retain 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 Kazakhstan ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+3.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Butter And Dairy Spreads

Imports in Asia

In 2022, approx. X tons of butter and dairy spreads were imported in Asia; picking up by 8.8% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 20% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, butter and dairy spreads imports skyrocketed to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.6% 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 +41.3% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the main importer of butter and dairy spreads in Asia, with the volume of imports accounting for X tons, which was near 25% of total imports in 2022. Saudi Arabia (X tons) ranks second in terms of the total imports with a 9.6% share, followed by South Korea (7.3%), Indonesia (7.2%), Bahrain (6%) and the United Arab Emirates (4.7%). The following importers - Azerbaijan (X tons), Taiwan (Chinese) (X tons), Singapore (X tons), Hong Kong SAR (X tons), Malaysia (X tons), Japan (X tons) and Kazakhstan (X tons) - together made up 21% of total imports.

From 2012 to 2022, average annual rates of growth with regard to butter and dairy spreads imports into China stood at +15.4%. At the same time, Bahrain (+15.6%), South Korea (+14.8%), Indonesia (+14.1%), Azerbaijan (+11.0%), the United Arab Emirates (+6.3%), Malaysia (+4.6%), Taiwan (Chinese) (+2.9%) and Hong Kong SAR (+2.0%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in Asia, with a CAGR of +15.6% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-2.5%), Singapore (-3.0%) and Kazakhstan (-3.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, South Korea, Indonesia, Bahrain and Azerbaijan increased by +17, +4.8, +4.6, +4.1 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported butter and dairy spreads in Asia, comprising 27% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 9.3% share of total imports. It was followed by South Korea, with an 8.1% share.

In China, butter and dairy spreads imports increased at an average annual rate of +20.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+21.3% per year) and South Korea (+20.4% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, surging by 16% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. The growth pace was the most rapid in 2017 when the import price increased by 32%. Over the period under review, import prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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