Malaysia: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Malaysia

The Malaysian butter and dairy spreads market contracted to $X in 2022, with a decrease of -12.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, posted strong growth. Butter and dairy spreads consumption peaked at $X in 2021, and then declined in the following year.

Exports of Butter And Dairy Spreads

Exports from Malaysia

In 2022, the amount of butter and dairy spreads exported from Malaysia surged to X tons, increasing by 15% compared with the previous year's figure. In general, exports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 98% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, butter and dairy spreads exports rose remarkably to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 48%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for butter and dairy spreads exports from Malaysia, with a 24% share of total exports. Moreover, butter and dairy spreads exports to Hong Kong SAR exceeded the volume sent to the second major destination, Nigeria (X tons), twofold. Saudi Arabia (X tons) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hong Kong SAR stood at +3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+30.9% per year) and Saudi Arabia (-3.8% per year).

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for butter and dairy spreads exports from Malaysia, comprising 42% of total exports. The second position in the ranking was held by Brunei Darussalam ($X), with an 8% share of total exports. It was followed by Saudi Arabia, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR totaled +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brunei Darussalam (-4.3% per year) and Saudi Arabia (-2.0% per year).

Export Prices by Country

The average butter and dairy spreads export price stood at $X per ton in 2022, which is down by -5.7% against the previous year. Overall, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.1% 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 export price increased by +2.0% against 2020 indices. The pace of growth appeared the most rapid in 2014 an increase of 37% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports into Malaysia

In 2022, after two years of growth, there was decline in overseas purchases of butter and dairy spreads, when their volume decreased by -4.1% to X tons. Over the period under review, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.6% 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 +14.5% against 2019 indices. The growth pace was the most rapid in 2015 when imports increased by 25% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then reduced slightly in the following year.

In value terms, butter and dairy spreads imports fell to $X in 2022. In general, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.5% 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 +15.2% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 49%. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest butter and dairy spreads supplier to Malaysia, with a 45% share of total imports. Moreover, butter and dairy spreads imports from New Zealand exceeded the figures recorded by the second-largest supplier, Denmark (X tons), fourfold. Benin (X tons) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand amounted to +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+30.3% per year) and Benin (+2.0% per year).

In value terms, New Zealand ($X) constituted the largest supplier of butter and dairy spreads to Malaysia, comprising 44% of total imports. The second position in the ranking was taken by Denmark ($X), with a 13% share of total imports. It was followed by Australia, with an 8.1% share.

From 2012 to 2022, the average annual growth rate of value from New Zealand totaled +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+26.1% per year) and Australia (-7.7% per year).

Import Prices by Country

The average butter and dairy spreads import price stood at $X per ton in 2022, shrinking by -4.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 39%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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