Asia-Pacific: Lactose Market 2024

Lactose Market Size in Asia-Pacific

For the fourth consecutive year, the Asia-Pacific lactose market recorded growth in sales value, which increased by 3.9% to $X in 2022. The market value increased at an average annual rate of +1.6% 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 near future.

Lactose Production in Asia-Pacific

In value terms, lactose production reached $X in 2022 estimated in export price. Overall, production, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 7.2%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Lactose Exports

Exports in Asia-Pacific

Lactose exports soared to X tons in 2022, growing by 35% compared with the previous year. In general, exports continue to indicate a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, lactose exports soared to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

New Zealand dominates exports structure, finishing at X tons, which was approx. 84% of total exports in 2022. Australia (X tons) ranks second in terms of the total exports with a 6.9% share, followed by India (4.6%). Singapore (X tons) took a little share of total exports.

Exports from New Zealand increased at an average annual rate of +7.6% from 2012 to 2022. At the same time, Singapore (+18.4%) and India (+2.4%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +18.4% from 2012-2022. By contrast, Australia (-17.4%) illustrated a downward trend over the same period. New Zealand (+42 p.p.) and Singapore (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Australia saw its share reduced by -40.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) remains the largest lactose supplier in Asia-Pacific, comprising 84% of total exports. The second position in the ranking was held by Australia ($X), with a 5.8% share of total exports. It was followed by India, with a 4.7% share.

In New Zealand, lactose exports increased at an average annual rate of +4.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Australia (-17.6% per year) and India (+3.6% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with an increase of 4% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 22% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Singapore ($X per ton) and India ($X per ton), while Australia ($X per ton) and New Zealand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.1%), while the other leaders experienced a decline in the export price figures.

Lactose Imports

Imports in Asia-Pacific

In 2022, approx. X tons of lactose and lactose syrup were imported in Asia-Pacific; surging by 5.1% on 2021. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% 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 +47.9% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 15%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, lactose imports expanded rapidly to $X in 2022. Total imports indicated a perceptible expansion 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. Based on 2022 figures, imports increased by +113.7% against 2016 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 31% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons), New Zealand (X tons) and Japan (X tons) represented the key importer of lactose and lactose syrup in Asia-Pacific, committing 56% of total import. Indonesia (X tons) took an 8.7% share (based on physical terms) of total imports, which put it in second place, followed by India (7.1%). The Philippines (X tons), Thailand (X tons), South Korea (X tons), Singapore (X tons), Vietnam (X tons), Pakistan (X tons) and Australia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +18.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lactose importing markets in Asia-Pacific were China ($X), New Zealand ($X) and Japan ($X), together accounting for 54% of total imports. India, Indonesia, Thailand, the Philippines, South Korea, Singapore, Vietnam, Pakistan and Australia lagged somewhat behind, together accounting for a further 42%.

In terms of the main importing countries, Pakistan, with a CAGR of +12.8%, saw 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-Pacific amounted to $X per ton, growing by 5.8% against the previous year. In general, the import price, however, continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 an increase of 19% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 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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