Asia-Pacific: Skim Milk Market 2024

Skim Milk Market Size in Asia-Pacific

In 2021, the Asia-Pacific skim milk market decreased by -5.5% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Skim Milk Production in Asia-Pacific

In value terms, skim milk production shrank to $X in 2021 estimated in export price. In general, production showed a perceptible decline. The pace of growth was the most pronounced in 2014 when the production volume increased by 36% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

New Zealand (X tons) constituted the country with the largest volume of skim milk production, comprising approx. 38% of total volume. Moreover, skim milk production in New Zealand exceeded the figures recorded by the second-largest producer, India (X tons), twofold. The third position in this ranking was held by Australia (X tons), with a 9.5% share.

From 2012 to 2021, the average annual growth rate of volume in New Zealand was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: India (+6.4% per year) and Australia (-3.5% per year).

Skim Milk Exports

Exports in Asia-Pacific

After five years of growth, shipments abroad of skim milk decreased by -10.6% to X tons in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by 22%. The volume of export peaked at X tons in 2020, and then dropped in the following year.

In value terms, skim milk exports shrank to $X in 2021. The total export value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 23% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then dropped in the following year.

Exports by Country

Australia (X tons) and New Zealand (X tons) prevails in exports structure, together generating 78% of total exports. Thailand (X tons) held the next position in the ranking, followed by Pakistan (X tons). All these countries together took near 12% share of total exports. The following exporters - South Korea (X tons), Indonesia (X tons) and Malaysia (X tons) - each recorded a 6% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +34.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest skim milk supplying countries in Asia-Pacific were Australia ($X), New Zealand ($X) and Thailand ($X), with a combined 81% share of total exports. South Korea, Indonesia, Pakistan and Malaysia lagged somewhat behind, together accounting for a further 13%.

Among the main exporting countries, Indonesia, with a CAGR of +44.9%, recorded the highest rates of growth with regard to the value of exports, 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 2021, almost unchanged from the previous year. Overall, the export price, however, saw a pronounced reduction. The growth pace was the most rapid in 2020 an increase of 4.4% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, 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 South Korea ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+7.6%), while the other leaders experienced mixed trends in the export price figures.

Skim Milk Imports

Imports in Asia-Pacific

In 2021, supplies from abroad of skim milk decreased by -8.8% to X tons for the first time since 2011, thus ending a nine-year rising trend. Over the period under review, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 36% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then shrank in the following year.

In value terms, skim milk imports dropped to $X in 2021. Overall, imports, however, saw a buoyant increase. The growth pace was the most rapid in 2013 with an increase of 45% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then shrank in the following year.

Imports by Country

China prevails in imports structure, resulting at X tons, which was approx. 79% of total imports in 2021. Singapore (X tons), the Philippines (X tons), Cambodia (X tons), Samoa (X tons) and Afghanistan (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the skim milk imports, with a CAGR of +33.8% from 2012 to 2021. At the same time, Afghanistan (+18.4%), Cambodia (+12.5%), Samoa (+8.8%) and Singapore (+7.0%) displayed positive paces of growth. By contrast, the Philippines (-6.0%) illustrated a downward trend over the same period. China (+55 p.p.) significantly strengthened its position in terms of the total imports, while Samoa, Singapore and the Philippines saw its share reduced by -2%, -4.7% and -22.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported skim milk in Asia-Pacific, comprising 74% of total imports. The second position in the ranking was held by Singapore ($X), with a 7.8% share of total imports. It was followed by Cambodia, with a 2.8% share.

In China, skim milk imports expanded at an average annual rate of +30.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Singapore (+7.8% per year) and Cambodia (+13.4% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, rising by 4.1% against the previous year. In general, the import price, however, showed a noticeable reduction. The growth pace was the most rapid in 2013 when the import price increased by 22%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+0.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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