Asia-Pacific: Yoghurt Market 2024

Yoghurt Market Size in Asia-Pacific

The Asia-Pacific yoghurt market contracted slightly to $X in 2022, remaining relatively unchanged against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Yoghurt Production in Asia-Pacific

In value terms, yoghurt production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 19%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Yoghurt Exports

Exports in Asia-Pacific

In 2022, the amount of yoghurt exported in Asia-Pacific shrank sharply to X tons, waning by -72.1% against 2021. Overall, exports saw a abrupt slump. The growth pace was the most rapid in 2015 with an increase of 41% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, yoghurt exports dropped markedly to $X in 2022. Over the period under review, exports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 32% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Australia (X tons) and Vietnam (X tons) were the major exporters of yoghurt in Asia-Pacific, together resulting at approx. 60% of total exports. Malaysia (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (10%). The following exporters - Bangladesh (X tons), New Zealand (X tons) and Taiwan (Chinese) (X tons) - together made up 11% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of +71.9%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) remains the largest yoghurt supplier in Asia-Pacific, comprising 49% of total exports. The second position in the ranking was held by Vietnam ($X), with a 20% share of total exports. It was followed by New Zealand, with a 7.2% share.

In Australia, yoghurt exports expanded at an average annual rate of +5.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+65.1% per year) and New Zealand (-4.6% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, surging by 67% against the previous year. Export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yoghurt export price increased by +48.3% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+13.0%), while the other leaders experienced more modest paces of growth.

Yoghurt Imports

Imports in Asia-Pacific

In 2022, purchases abroad of yoghurt decreased by -2.3% to X tons, falling for the second consecutive year after three years of growth. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 26%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, yoghurt imports contracted slightly to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +8.5% 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 +125.4% against 2012 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 21% against the previous year. The level of import peaked at $X in 2021, and then shrank slightly in the following year.

Imports by Country

In 2022, China (X tons), distantly followed by Cambodia (X tons), Singapore (X tons), Hong Kong SAR (X tons), Lao People's Democratic Republic (X tons), the Philippines (X tons) and Vietnam (X tons) represented the major importers of yoghurt, together constituting 81% of total imports.

From 2012 to 2022, average annual rates of growth with regard to yoghurt imports into China stood at +25.8%. At the same time, Cambodia (+61.3%), Vietnam (+10.5%), Hong Kong SAR (+7.8%), Singapore (+4.7%) and Lao People's Democratic Republic (+4.2%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +61.3% from 2012-2022. By contrast, the Philippines (-5.9%) illustrated a downward trend over the same period. While the share of China (+20 p.p.) and Cambodia (+12 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (-4.3 p.p.), Lao People's Democratic Republic (-4.4 p.p.) and the Philippines (-21.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Hong Kong SAR ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2022, with a combined 53% share of total imports. Cambodia, the Philippines, Lao People's Democratic Republic and Vietnam lagged somewhat behind, together comprising a further 25%.

In terms of the main importing countries, Cambodia, with a CAGR of +61.5%, 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, almost unchanged from the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by 7.2%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

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 Hong Kong SAR ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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