Asia: Whole Fresh Milk Market 2024

Whole Fresh Milk Market Size in Asia

The Asian whole fresh milk market stood at $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Whole Fresh Milk Production in Asia

In value terms, whole fresh milk production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2013 with an increase of 21% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of whole fresh milk production was India (X tons), comprising approx. 52% of total volume. Moreover, whole fresh milk production in India exceeded the figures recorded by the second-largest producer, Pakistan (X tons), fourfold. China (X tons) ranked third in terms of total production with a 10% share.

In India, whole fresh milk production increased at an average annual rate of +4.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+4.5% per year) and China (+1.0% per year).

Whole Fresh Milk Exports

Exports in Asia

In 2022, overseas shipments of whole fresh milk decreased by -6.2% to X tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a pronounced curtailment. The growth pace was the most rapid in 2020 when exports increased by 13% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, whole fresh milk exports declined to $X in 2022. Overall, exports showed a noticeable reduction. The growth pace was the most rapid in 2020 when exports increased by 20%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Thailand (X tons) was the key exporter of whole fresh milk, creating 33% of total exports. China (X tons) took a 9.8% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (8.6%), Kazakhstan (5.6%), India (5.4%), Turkey (5%) and Saudi Arabia (4.9%). Malaysia (X tons), Kyrgyzstan (X tons), Japan (X tons), Iran (X tons), Hong Kong SAR (X tons) and Kuwait (X tons) followed a long way behind the leaders.

Exports from Thailand increased at an average annual rate of +21.0% from 2012 to 2022. At the same time, Kuwait (+29.4%), Iran (+27.1%), Kazakhstan (+24.7%), Japan (+14.4%), India (+3.3%), Turkey (+3.3%) and Hong Kong SAR (+2.1%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in Asia, with a CAGR of +29.4% from 2012-2022. Malaysia experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-1.1%), China (-1.3%), Kyrgyzstan (-6.8%) and Saudi Arabia (-21.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, Kazakhstan, Japan, Iran, India, Turkey and Kuwait increased by +30, +5.1, +2.8, +2.7, +2.5, +2.3 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest whole fresh milk supplier in Asia, comprising 41% of total exports. The second position in the ranking was held by China ($X), with a 9.1% share of total exports. It was followed by the United Arab Emirates, with a 6.1% share.

In Thailand, whole fresh milk exports expanded at an average annual rate of +18.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: China (-0.1% per year) and the United Arab Emirates (-4.7% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, almost unchanged from the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 11% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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 Hong Kong SAR ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+3.1%), while the other leaders experienced more modest paces of growth.

Whole Fresh Milk Imports

Imports in Asia

In 2022, after three years of growth, there was significant decline in supplies from abroad of whole fresh milk, when their volume decreased by -13.2% to X tons. In general, imports, however, posted a prominent increase. The pace of growth was the most pronounced in 2016 when imports increased by 36%. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, whole fresh milk imports declined to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +9.1% 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 +139.6% against 2012 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 34%. Over the period under review, imports reached the maximum at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X tons) was the main importer of whole fresh milk, achieving 49% of total imports. It was distantly followed by the Philippines (X tons), Singapore (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons), together making up a 30% share of total imports. The following importers - Vietnam (X tons), South Korea (X tons), Malaysia (X tons), Kazakhstan (X tons) and Oman (X tons) - together made up 11% of total imports.

From 2012 to 2022, average annual rates of growth with regard to whole fresh milk imports into China stood at +24.7%. At the same time, South Korea (+42.7%), Vietnam (+21.0%), Taiwan (Chinese) (+20.5%), the Philippines (+16.7%), Malaysia (+14.1%), Singapore (+3.6%) and Hong Kong SAR (+3.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of +42.7% from 2012-2022. By contrast, Oman (-2.7%) and Kazakhstan (-9.5%) illustrated a downward trend over the same period. While the share of China (+36 p.p.), the Philippines (+4.9 p.p.), Taiwan (Chinese) (+3.4 p.p.), South Korea (+2.3 p.p.) and Vietnam (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Oman (-3.4 p.p.), Hong Kong SAR (-5.5 p.p.), Singapore (-5.5 p.p.) and Kazakhstan (-8.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported whole fresh milk in Asia, comprising 50% of total imports. The second position in the ranking was held by Singapore ($X), with an 8.8% share of total imports. It was followed by Hong Kong SAR, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +24.4%. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (+4.2% per year) and Hong Kong SAR (+4.1% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, increasing by 3.7% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by 21% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 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 Hong Kong SAR ($X per ton), while Kazakhstan ($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 (+0.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :