Eastern Asia: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in Eastern Asia

The East Asian buttermilk and buttermilk powder market shrank slightly to $X in 2022, which is down by -2.9% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Buttermilk And Buttermilk Powder in Eastern Asia

In value terms, buttermilk and buttermilk powder production contracted to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.9% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 19%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Buttermilk And Buttermilk Powder

Exports in Eastern Asia

In 2022, approx. X tons of buttermilk and buttermilk powder were exported in Eastern Asia; picking up by 19% on the year before. Total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -11.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 35%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, buttermilk and buttermilk powder exports soared to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 25%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

In 2022, China (X tons) represented the main exporter of buttermilk and buttermilk powder, making up 59% of total exports. It was distantly followed by Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons), together generating a 36% share of total exports. South Korea (X tons) took a minor share 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 South Korea (with a CAGR of +27.8%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest buttermilk and buttermilk powder supplying countries in Eastern Asia were China ($X), Hong Kong SAR ($X) and South Korea ($X), together comprising 94% of total exports.

China, with a CAGR of +40.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, almost unchanged from the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2021 when the export price increased by 28% against the previous year. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.1%), while the other leaders experienced more modest paces of growth.

Imports of Buttermilk And Buttermilk Powder

Imports in Eastern Asia

In 2022, buttermilk and buttermilk powder imports in Eastern Asia rose significantly to X tons, growing by 13% on the previous year. Total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.8% 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 -10.0% against 2020 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 76% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, buttermilk and buttermilk powder imports rose slightly to $X in 2022. Total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 -8.9% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 62% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Hong Kong SAR was the largest importer of buttermilk and buttermilk powder in Eastern Asia, with the volume of imports recording X tons, which was near 68% of total imports in 2022. Taiwan (Chinese) (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by China (15%).

Hong Kong SAR was also the fastest-growing in terms of the buttermilk and buttermilk powder imports, with a CAGR of +39.5% from 2012 to 2022. At the same time, Taiwan (Chinese) (+17.4%) displayed positive paces of growth. By contrast, China (-10.8%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (+63 p.p.) and Taiwan (Chinese) (+9.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-73.5 p.p.) displayed negative dynamics.

In value terms, Hong Kong SAR ($X), China ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of imports in 2022, together comprising 94% of total imports.

Hong Kong SAR, with a CAGR of +32.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, which is down by -7.8% against the previous year. In general, the import price showed a pronounced descent. The most prominent rate of growth was recorded in 2013 when the import price increased by 25%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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