Eastern Asia: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Eastern Asia

The East Asian butter and dairy spreads market soared to $X in 2022, surging by 19% against the previous year. Overall, consumption enjoyed a strong increase. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Butter And Dairy Spreads in Eastern Asia

In value terms, butter and dairy spreads production totaled $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 266,131,800%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

The country with the largest volume of butter and dairy spreads production was Macao SAR (X kg), comprising approx. 100% of total volume.

In Macao SAR, butter and dairy spreads production remained relatively stable over the period from 2012-2022.

Exports of Butter And Dairy Spreads

Exports in Eastern Asia

In 2022, the amount of butter and dairy spreads exported in Eastern Asia reduced to X tons, dropping by -12.4% on 2021 figures. Over the period under review, exports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2014 when exports increased by 92% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, butter and dairy spreads exports expanded sharply to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 86%. Over the period under review, the exports attained the peak figure 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 major exporter of butter and dairy spreads, mixing up 68% of total exports. It was distantly followed by Hong Kong SAR (X tons), making up a 29% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to butter and dairy spreads exports from China stood at -4.2%. Hong Kong SAR experienced a relatively flat trend pattern. Hong Kong SAR (+7.5 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -10.2% from 2012 to 2022, respectively.

In value terms, the largest butter and dairy spreads supplying countries in Eastern Asia were China ($X) and Hong Kong SAR ($X).

In terms of 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

The export price in Eastern Asia stood at $X per ton in 2022, picking up by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2017 an increase of 21%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices remained at a 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%).

Imports of Butter And Dairy Spreads

Imports in Eastern Asia

In 2022, butter and dairy spreads imports in Eastern Asia expanded slightly to X tons, picking up by 3.9% on the previous year's figure. Over the period under review, imports recorded a strong expansion. The growth pace was the most rapid in 2014 when imports increased by 42%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, butter and dairy spreads imports soared to $X in 2022. Overall, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2014 when imports increased by 50% against the previous year. 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) represented the main importer of butter and dairy spreads, constituting 60% of total imports. South Korea (X tons) ranks second in terms of the total imports with a 17% share, followed by Taiwan (Chinese) (10%), Hong Kong SAR (6.5%) and Japan (5.7%).

China was also the fastest-growing in terms of the butter and dairy spreads imports, with a CAGR of +15.4% from 2012 to 2022. At the same time, South Korea (+14.8%), Taiwan (Chinese) (+2.9%) and Hong Kong SAR (+2.0%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. From 2012 to 2022, the share of China and South Korea increased by +22 and +5.9 percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported butter and dairy spreads in Eastern Asia, comprising 61% of total imports. The second position in the ranking was held by South Korea ($X), with an 18% share of total imports. It was followed by Taiwan (Chinese), with an 8.2% 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 (+20.4% per year) and Taiwan (Chinese) (+5.7% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with an increase of 22% against the previous year. Import price indicated a perceptible expansion 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 and dairy spreads import price increased by +31.3% against 2020 indices. The pace of growth appeared the most rapid 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 near future.

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 (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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