Asia-Pacific: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in Asia-Pacific

The Asia-Pacific buttermilk and buttermilk powder market declined modestly to $X in 2022, dropping by -1.9% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Buttermilk And Buttermilk Powder in Asia-Pacific

In value terms, buttermilk and buttermilk powder production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 19% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Buttermilk And Buttermilk Powder

Exports in Asia-Pacific

In 2022, the amount of buttermilk and buttermilk powder exported in Asia-Pacific soared to X tons, with an increase of 22% against the previous year. The total export volume increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, buttermilk and buttermilk powder exports surged to $X in 2022. Total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.1% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

New Zealand (X tons) and Thailand (X tons) represented roughly 75% of total exports in 2022. It was distantly followed by Indonesia (X tons), mixing up an 11% share of total exports. The following exporters - China (X tons), Singapore (X tons), Malaysia (X tons) and Australia (X tons) - together made up 8.9% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +26.6%), while the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X) remains the largest buttermilk and buttermilk powder supplier in Asia-Pacific, comprising 67% of total exports. The second position in the ranking was held by Thailand ($X), with a 13% share of total exports. It was followed by Indonesia, with a 4.6% share.

In New Zealand, buttermilk and buttermilk powder exports expanded at an average annual rate of +5.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+14.3% per year) and Indonesia (+0.2% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with an increase of 16% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 29%. The level of export peaked at $X per ton in 2013; however, from 2014 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 New Zealand ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.1%), while the other leaders experienced more modest paces of growth.

Imports of Buttermilk And Buttermilk Powder

Imports in Asia-Pacific

In 2022, imports of buttermilk and buttermilk powder in Asia-Pacific was estimated at X tons, picking up by 11% on the previous year. Total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.7% 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 +108.0% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 25%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, buttermilk and buttermilk powder imports soared to $X in 2022. Total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 +105.3% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 26% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

The Philippines prevails in imports structure, recording X tons, which was near 54% of total imports in 2022. It was distantly followed by Thailand (X tons) and Malaysia (X tons), together mixing up a 13% share of total imports. Hong Kong SAR (X tons), Singapore (X tons), Papua New Guinea (X tons), Indonesia (X tons), Australia (X tons), Vietnam (X tons), Cambodia (X tons), Maldives (X tons) and Timor-Leste (X tons) followed a long way behind the leaders.

Imports into the Philippines increased at an average annual rate of +13.7% from 2012 to 2022. At the same time, Hong Kong SAR (+39.5%), Vietnam (+14.9%), Cambodia (+12.3%), Australia (+8.5%), Singapore (+6.4%), Maldives (+3.1%) and Timor-Leste (+1.3%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +39.5% from 2012-2022. Papua New Guinea and Indonesia experienced a relatively flat trend pattern. By contrast, Malaysia (-3.6%) and Thailand (-4.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Philippines, Hong Kong SAR and Vietnam increased by +28, +4.2 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported buttermilk and buttermilk powder in Asia-Pacific, comprising 45% of total imports. The second position in the ranking was held by Thailand ($X), with a 13% share of total imports. It was followed by Malaysia, with an 8.6% share.

In the Philippines, buttermilk and buttermilk powder imports increased at an average annual rate of +8.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (-1.9% per year) and Malaysia (-0.6% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, increasing by 3.6% against the previous year. Overall, the import price, however, saw a slight setback. The pace of growth was the most pronounced in 2013 when the import price increased by 19% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a lower figure.

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 Thailand ($X per ton), while Timor-Leste ($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 (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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