Eastern Asia: Yoghurt Market 2024

Yoghurt Market Size in Eastern Asia

The East Asian yoghurt market declined modestly to $X in 2022, standing approx. at the previous year. In general, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Yoghurt Production in Eastern Asia

In value terms, yoghurt production reduced slightly to $X in 2022 estimated in export price. Overall, production saw a slight slump. The growth pace was the most rapid in 2016 when the production volume increased by 14% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Yoghurt Exports

Exports in Eastern Asia

In 2022, approx. X tons of yoghurt were exported in Eastern Asia; which is down by -6.4% against the previous year. In general, exports recorded a slight curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 80% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, yoghurt exports dropped modestly to $X in 2022. Overall, exports, however, enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 91%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) represented the largest exporter of yoghurt in Eastern Asia, with the volume of exports reaching X tons, which was near 50% of total exports in 2022. Hong Kong SAR (X tons) held a 27% share (based on physical terms) of total exports, which put it in second place, followed by Japan (14%), South Korea (5.5%) and China (4.7%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Japan (with a CAGR of +45.2%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest yoghurt supplying countries in Eastern Asia were Hong Kong SAR ($X), Japan ($X) and Taiwan (Chinese) ($X), together accounting for 94% of total exports.

Japan, with a CAGR of +36.7%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, with an increase of 5.5% against the previous year. Export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yoghurt export price decreased by -3.3% against 2020 indices. The pace of growth was the most pronounced in 2018 an increase of 27% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 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 ($X per ton), while China ($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 (+13.1%), while the other leaders experienced mixed trends in the export price figures.

Yoghurt Imports

Imports in Eastern Asia

In 2022, after two years of decline, there was growth in purchases abroad of yoghurt, when their volume increased by 3.4% to X tons. In general, imports recorded resilient growth. The pace of growth appeared the most rapid in 2017 when imports increased by 65%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, yoghurt imports shrank modestly to $X in 2022. Overall, imports recorded a resilient increase. The pace of growth appeared the most rapid in 2016 when imports increased by 30%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China was the major importing country with an import of around X tons, which reached 62% of total imports. It was distantly followed by Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons), together generating a 31% share of total imports. Macao SAR (X tons) and South Korea (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the yoghurt imports, with a CAGR of +25.8% from 2012 to 2022. At the same time, South Korea (+20.1%), Taiwan (Chinese) (+17.4%), Macao SAR (+9.4%) and Hong Kong SAR (+7.8%) displayed positive paces of growth. While the share of China (+34 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Macao SAR (-3.4 p.p.) and Hong Kong SAR (-29 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Hong Kong SAR ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of imports in 2022, with a combined 93% share of total imports.

China, with a CAGR of +18.8%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, dropping by -3.9% against the previous year. Overall, the import price saw a noticeable reduction. The growth pace was the most rapid in 2021 when the import price increased by 8.1%. The level of import peaked at $X per ton in 2014; however, from 2015 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 ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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