Malaysia: Dairy Spread Market 2024

Dairy Spread Market Size in Malaysia

The Malaysian dairy spread market declined to $X in 2022, waning by -5.6% against the previous year. Overall, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -14.0% against 2019 indices. Dairy spread consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Dairy Spread Production in Malaysia

In value terms, dairy spread production shrank to $X in 2022 estimated in export price. In general, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -14.7% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 49%. Dairy spread production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Dairy Spread Exports

Exports from Malaysia

In 2022, dairy spread exports from Malaysia contracted modestly to X tons, standing approx. at 2021 figures. Over the period under review, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 76%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, dairy spread exports shrank modestly to $X in 2022. Overall, exports faced a abrupt slump. The growth pace was the most rapid in 2014 when exports increased by 81%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Brunei Darussalam (X tons), Kuwait (X tons) and Indonesia (X tons) were the main destinations of dairy spread exports from Malaysia, together comprising 73% of total exports.

From 2012 to 2022, the biggest increases were recorded for Brunei Darussalam (with a CAGR of +17.8%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Kuwait ($X), Qatar ($X) and Indonesia ($X) constituted the largest markets for dairy spread exported from Malaysia worldwide, together accounting for 85% of total exports.

In terms of the main countries of destination, Kuwait, with a CAGR of +16.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average dairy spread export price stood at $X per ton in 2022, waning by -3.9% against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. The growth pace was the most rapid in 2019 when the average export price increased by 47%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then fell slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Brunei Darussalam ($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 Qatar (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Spread Imports

Imports into Malaysia

After three years of growth, supplies from abroad of dairy spreads decreased by -12.9% to X tons in 2022. Overall, imports, however, recorded buoyant growth. The growth pace was the most rapid in 2019 with an increase of 537% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, dairy spread imports declined notably to $X in 2022. Over the period under review, imports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 652% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped sharply in the following year.

Imports by Country

Denmark (X tons), the Philippines (X tons) and Belgium (X tons) were the main suppliers of dairy spread imports to Malaysia, with a combined 70% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +61.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), the Philippines ($X) and Belgium ($X) were the largest dairy spread suppliers to Malaysia, with a combined 76% share of total imports.

In terms of the main suppliers, Denmark, with a CAGR of +103.0%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average dairy spread import price amounted to $X per ton, declining by -3.5% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy spread import price increased by +74.7% against 2015 indices. The pace of growth appeared the most rapid in 2018 an increase of 30% against the previous year. The import price peaked at $X per ton in 2021, and then declined slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+25.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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