Asia-Pacific: Milk Market 2024

Milk Market Size in Asia-Pacific

The Asia-Pacific milk market amounted to $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Milk Production in Asia-Pacific

In value terms, milk production amounted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a slight contraction. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

India (X tons) remains the largest milk producing country in Asia-Pacific, accounting for X% of total volume. Moreover, milk production in India exceeded the figures recorded by the second-largest producer, Pakistan (X tons), fourfold. The third position in this ranking was taken by China (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume in India stood at X%. The remaining producing countries recorded the following average annual rates of production growth: Pakistan (X% per year) and China (X% per year).

Milk Exports

Exports in Asia-Pacific

After ten years of growth, overseas shipments of milk decreased by X% to X tons in 2022. In general, exports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined in the following year.

In value terms, milk exports reduced modestly to $X in 2022. Over the period under review, exports, however, posted a strong increase. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then fell slightly in the following year.

Exports by Country

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

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

In value terms, New Zealand ($X), Australia ($X) and Thailand ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Thailand, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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

The export price in Asia-Pacific stood at $X per ton in 2022, leveling off at the previous year. In general, the export price, however, saw a mild downturn. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

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

Milk Imports

Imports in Asia-Pacific

In 2022, after four years of growth, there was significant decline in purchases abroad of milk, when their volume decreased by X% to X tons. Overall, imports, however, posted strong growth. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then shrank remarkably in the following year.

In value terms, milk imports contracted rapidly to $X in 2022. In general, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then shrank notably in the following year.

Imports by Country

China was the largest importing country with an import of around X tons, which recorded X% of total imports. The Philippines (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (X%) and Hong Kong SAR (X%). Vietnam (X tons), Malaysia (X tons) and South Korea (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to milk imports into China stood at X%. At the same time, South Korea (X%), Vietnam (X%), Malaysia (X%), the Philippines (X%), Singapore (X%) and Hong Kong SAR (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of China and South Korea increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported milk in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by Singapore ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, continues to indicate a mild downturn. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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