Asia-Pacific: Dairy Spread Market 2024

Dairy Spread Market Size in Asia-Pacific

The Asia-Pacific dairy spread market reduced modestly to $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Dairy Spread Production in Asia-Pacific

In value terms, dairy spread production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 15%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Dairy Spread Exports

Exports in Asia-Pacific

In 2022, overseas shipments of dairy spreads increased by 56% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 147%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, dairy spread exports soared to $X in 2022. Overall, exports recorded a strong increase. The growth pace was the most rapid in 2021 with an increase of 145% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

New Zealand represented the main exporter of dairy spreads in Asia-Pacific, with the volume of exports accounting for X tons, which was approx. 70% of total exports in 2022. It was distantly followed by Australia (X tons), creating a 26% share of total exports. Bangladesh (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to dairy spread exports from New Zealand stood at +10.9%. At the same time, Bangladesh (+21.2%) and Australia (+3.7%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +21.2% from 2012-2022. While the share of New Zealand (+22 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Australia (-8.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) emerged as the largest dairy spread supplier in Asia-Pacific, comprising 73% of total exports. The second position in the ranking was held by Australia ($X), with a 24% share of total exports.

In New Zealand, dairy spread exports expanded at an average annual rate of +17.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Australia (+7.1% per year) and Bangladesh (+18.4% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, picking up by 25% against the previous year. Export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 an increase of 29%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.8%), while the other leaders experienced mixed trends in the export price figures.

Dairy Spread Imports

Imports in Asia-Pacific

In 2022, the amount of dairy spreads imported in Asia-Pacific was estimated at X tons, rising by 12% on 2021. Total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +4.6% 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 +59.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 42%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, dairy spread imports surged to $X in 2022. Over the period under review, imports recorded a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea dominates imports structure, reaching X tons, which was approx. 82% of total imports in 2022. Taiwan (Chinese) (X tons), Australia (X tons), Lao People's Democratic Republic (X tons) and Malaysia (X tons) followed a long way behind the leaders.

Imports into South Korea increased at an average annual rate of +7.7% from 2012 to 2022. At the same time, Taiwan (Chinese) (+24.3%), Malaysia (+8.7%) and Australia (+2.0%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +24.3% from 2012-2022. By contrast, Lao People's Democratic Republic (-4.4%) illustrated a downward trend over the same period. While the share of South Korea (+21 p.p.) and Taiwan (Chinese) (+2.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Lao People's Democratic Republic (-2.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported dairy spreads in Asia-Pacific, comprising 85% of total imports. The second position in the ranking was held by Australia ($X), with a 3.6% share of total imports. It was followed by Taiwan (Chinese), with a 3.2% share.

In South Korea, dairy spread imports increased at an average annual rate of +12.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Australia (+5.1% per year) and Taiwan (Chinese) (+26.7% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, rising by 29% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Australia ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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