Asia-Pacific: Baby Food Market 2024

Baby Food Market Size in Asia-Pacific

In 2021, the Asia-Pacific baby food market decreased by -6.6% to $X for the first time since 2016, thus ending a four-year rising trend. The market value increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Baby Food Production in Asia-Pacific

In value terms, baby food production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 33%. Over the period under review, production reached the maximum level at $X in 2020, and then declined slightly in the following year.

Baby Food Exports

Exports in Asia-Pacific

In 2021, baby food exports in Asia-Pacific expanded significantly to X tons, growing by 13% compared with the previous year. Overall, exports saw a resilient increase. The pace of growth appeared the most rapid in 2013 when exports increased by 34% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, baby food exports soared to $X in 2021. In general, exports recorded a prominent expansion. The growth pace was the most rapid in 2018 when exports increased by 42%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

New Zealand was the major exporter of food preparations for infants in Asia-Pacific, with the volume of exports resulting at X tons, which was approx. 47% of total exports in 2021. Singapore (X tons) ranks second in terms of the total exports with an 11% share, followed by Australia (7.4%), Thailand (7.2%) and Indonesia (5.5%). The Philippines (X tons), Malaysia (X tons), South Korea (X tons), China (X tons), Japan (X tons), India (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

Exports from New Zealand increased at an average annual rate of +17.5% from 2012 to 2021. At the same time, Hong Kong SAR (+46.5%), China (+42.4%), Japan (+27.1%), Australia (+20.8%), Indonesia (+16.7%), Thailand (+16.7%), the Philippines (+10.4%) and India (+6.2%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +46.5% from 2012-2021. Singapore and South Korea experienced a relatively flat trend pattern. By contrast, Malaysia (-6.5%) illustrated a downward trend over the same period. New Zealand (+20 p.p.), Australia (+4.1 p.p.), Thailand (+2.8 p.p.), China (+2.7 p.p.), Indonesia (+2.2 p.p.) and Japan (+2 p.p.) significantly strengthened its position in terms of the total exports, while South Korea, Malaysia and Singapore saw its share reduced by -6.1%, -13.3% and -14.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) remains the largest baby food supplier in Asia-Pacific, comprising 54% of total exports. The second position in the ranking was held by Australia ($X), with a 10% share of total exports. It was followed by China, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in New Zealand stood at +23.9%. In the other countries, the average annual rates were as follows: Australia (+27.1% per year) and China (+60.7% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, rising by 2.5% against the previous year. Over the last nine years, it increased at an average annual rate of +2.9%. The pace of growth was the most pronounced in 2015 when the export price increased by 13%. The level of export peaked at $X per ton in 2019; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+12.9%), while the other leaders experienced more modest paces of growth.

Baby Food Imports

Imports in Asia-Pacific

In 2021, overseas purchases of food preparations for infants decreased by -14.3% to X tons, falling for the second consecutive year after eight years of growth. Over the period under review, imports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of 23%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, baby food imports reduced to $X in 2021. Overall, imports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2015 when imports increased by 33%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China represented the key importing country with an import of around X tons, which resulted at 51% of total imports. Malaysia (X tons) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (7.9%). The following importers - Taiwan (Chinese) (X tons), Australia (X tons), the Philippines (X tons), Indonesia (X tons), Pakistan (X tons), Bangladesh (X tons) and Cambodia (X tons) - together made up 18% of total imports.

From 2012 to 2021, average annual rates of growth with regard to baby food imports into China stood at +12.9%. At the same time, Cambodia (+20.9%), Vietnam (+10.4%), Bangladesh (+9.4%), Australia (+8.5%), Pakistan (+6.9%), Taiwan (Chinese) (+3.9%), Indonesia (+3.7%) and Malaysia (+2.6%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +20.9% from 2012-2021. By contrast, the Philippines (-1.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Vietnam increased by +18 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported food preparations for infants in Asia-Pacific, comprising 72% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 5.3% share of total imports. It was followed by Malaysia, with a 3.9% share.

In China, baby food imports expanded at an average annual rate of +17.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+9.2% per year) and Malaysia (+3.8% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, surging by 2.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.0%. The most prominent rate of growth was recorded in 2014 an increase of 14%. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+9.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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