Asia: Lactose Market 2024

Lactose Market Size in Asia

In 2022, the Asian lactose market increased by 6.4% to $X, rising for the sixth year in a row after three years of decline. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Lactose Production in Asia

In value terms, lactose production reached $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 11%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Lactose Exports

Exports in Asia

After two years of growth, shipments abroad of lactose and lactose syrup decreased by -29.9% to X tons in 2022. Total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 42%. The volume of export peaked at X tons in 2021, and then fell rapidly in the following year.

In value terms, lactose exports shrank dramatically to $X in 2022. Total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when exports increased by 90% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Israel (X tons) and Turkey (X tons) represented the largest exporters of lactose and lactose syrup in Asia, together creating 71% of total exports. India (X tons) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (5.6%). The following exporters - Taiwan (Chinese) (X tons), Thailand (X tons) and Vietnam (X tons) - each resulted at a 5.9% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +18.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest lactose supplying countries in Asia were Israel ($X), Turkey ($X) and India ($X), with a combined 78% share of total exports. Singapore, Taiwan (Chinese), Thailand and Vietnam lagged somewhat behind, together accounting for a further 16%.

Vietnam, with a CAGR of +21.8%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, increasing by 21% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 34% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 Taiwan (Chinese) ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.5%), while the other leaders experienced more modest paces of growth.

Lactose Imports

Imports in Asia

In 2022, lactose imports in Asia rose sharply to X tons, surging by 7.2% compared with the previous year. Total imports indicated strong growth from 2012 to 2022: its volume 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, imports increased by +56.3% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of 16%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, lactose imports rose remarkably to $X in 2022. Total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +112.2% against 2016 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 24%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X tons), distantly followed by Japan (X tons), Indonesia (X tons), India (X tons), the Philippines (X tons) and Thailand (X tons) were the main importers of lactose and lactose syrup, together generating 74% of total imports. South Korea (X tons), Singapore (X tons), Vietnam (X tons), Pakistan (X tons), Iran (X tons), the United Arab Emirates (X tons) and Malaysia (X tons) took a little 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 Pakistan (with a CAGR of +18.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and India ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 54% of total imports. Indonesia, Thailand, the Philippines, South Korea, Singapore, Vietnam, Pakistan, Iran, the United Arab Emirates and Malaysia lagged somewhat behind, together comprising a further 41%.

In terms of the main importing countries, Pakistan, with a CAGR of +12.8%, 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 ton, picking up by 4.1% against the previous year. Overall, the import price, however, continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2019 an increase of 17% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 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 India ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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