Eastern Asia: Butter Market 2025

Butter Market Size in Eastern Asia

The East Asian butter market expanded markedly to $X in 2022, rising by 6.8% against the previous year. Overall, consumption saw a relatively flat trend pattern. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Butter Production in Eastern Asia

In value terms, butter production rose slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2015 when the production volume increased by 95%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Butter Exports

Exports in Eastern Asia

In 2022, the amount of butter exported in Eastern Asia contracted to X tons, falling by -8.4% against the previous year. Over the period under review, exports recorded a noticeable decrease. The pace of growth was the most pronounced in 2014 when exports increased by 95% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, butter exports expanded rapidly to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 89%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, China (X tons) was the largest exporter of butter, constituting 65% of total exports. It was distantly followed by Hong Kong SAR (X tons), generating a 32% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to butter exports from China stood at -5.0%. Hong Kong SAR experienced a relatively flat trend pattern. From 2012 to 2022, the share of Hong Kong SAR increased by +9.4 percentage points.

In value terms, China ($X) and Hong Kong SAR ($X) were the countries with the highest levels of exports in 2022.

Among the main exporting countries, Hong Kong SAR, with a CAGR of +3.5%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, growing by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2017 an increase of 21%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.5%).

Butter Imports

Imports in Eastern Asia

For the third year in a row, Eastern Asia recorded growth in purchases abroad of butter, which increased by 3.6% to X tons in 2022. In general, imports recorded resilient growth. The pace of growth was the most pronounced in 2014 with an increase of 45% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, butter imports surged to $X in 2022. Overall, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 52%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X tons) was the largest importer of butter, committing 63% of total imports. It was distantly followed by South Korea (X tons), Taiwan (Chinese) (X tons), Hong Kong SAR (X tons) and Japan (X tons), together making up a 37% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to butter imports into China stood at +15.4%. At the same time, South Korea (+18.2%), Taiwan (Chinese) (+2.7%) and Hong Kong SAR (+1.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +18.2% from 2012-2022. Japan experienced a relatively flat trend pattern. China (+23 p.p.) and South Korea (+7 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR, Japan and Taiwan (Chinese) saw its share reduced by -8%, -10.1% and -10.7% from 2012 to 2022, respectively.

In value terms, China ($X) constitutes the largest market for imported butter in Eastern Asia, comprising 63% of total imports. The second position in the ranking was held by South Korea ($X), with a 15% share of total imports. It was followed by Taiwan (Chinese), with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +20.6%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+23.6% per year) and Taiwan (Chinese) (+5.5% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by 22% against the previous year. Import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter import price increased by +31.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 40%. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Korea ($X per ton) and Japan ($X per ton), while Taiwan (Chinese) ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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