Eastern Asia: Lactose Market 2024

Lactose Market Size in Eastern Asia

In 2022, the East Asian lactose market increased by 15% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +49.4% against 2019 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Lactose Production in Eastern Asia

In value terms, lactose production stood at $X in 2022 estimated in export price. Over the period under review, production, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 35% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Lactose Exports

Exports in Eastern Asia

After two years of decline, shipments abroad of lactose and lactose syrup increased by 1.4% to X tons in 2022. Overall, exports, however, saw a mild decrease. The growth pace was the most rapid in 2015 when exports increased by 95%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, lactose exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 60% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Taiwan (Chinese) (X tons) was the major exporter of lactose and lactose syrup, comprising 74% of total exports. China (X tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (10%). Japan (X tons) took a minor share of total exports.

Taiwan (Chinese) was also the fastest-growing in terms of the lactose and lactose syrup exports, with a CAGR of +8.4% from 2012 to 2022. At the same time, South Korea (+6.1%) displayed positive paces of growth. By contrast, China (-14.0%) and Japan (-17.1%) illustrated a downward trend over the same period. Taiwan (Chinese) (+45 p.p.) and South Korea (+5.2 p.p.) significantly strengthened its position in terms of the total exports, while Japan and China saw its share reduced by -11% and -35.9% from 2012 to 2022, respectively.

In value terms, Taiwan (Chinese) ($X) remains the largest lactose supplier in Eastern Asia, comprising 65% of total exports. The second position in the ranking was taken by China ($X), with a 19% share of total exports. It was followed by Japan, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Taiwan (Chinese) stood at +10.5%. In the other countries, the average annual rates were as follows: China (-13.4% per year) and Japan (-9.9% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, increasing by 21% against the previous year. In general, the export price, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2017 when the export price increased by 80%. The level of export peaked at $X per ton in 2012; however, from 2013 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 Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+8.6%), while the other leaders experienced more modest paces of growth.

Lactose Imports

Imports in Eastern Asia

Lactose imports skyrocketed to X tons in 2022, jumping by 16% against 2021 figures. The total import volume increased at an average annual rate of +4.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 23%. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, lactose imports soared to $X in 2022. Total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +113.4% against 2016 indices. The growth pace was the most rapid in 2017 when imports increased by 27%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

China represented the largest importer of lactose and lactose syrup in Eastern Asia, with the volume of imports recording X tons, which was approx. 55% of total imports in 2022. Japan (X tons) took the second position in the ranking, distantly followed by South Korea (X tons). All these countries together held near 42% share of total imports. Taiwan (Chinese) (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +6.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, with a combined 98% share of total imports.

Among the main importing countries, China, with a CAGR of +2.7%, 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 mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, increasing by 1.9% against the previous year. Over the period under review, the import price, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2019 an increase of 22%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :