South-Eastern Asia: Cream Fresh Market 2024

Cream Fresh Market Size in South-Eastern Asia

The Southeast Asian cream fresh market shrank modestly to $X in 2022, falling by -2.9% against the previous year. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +88.0% against 2015 indices. The level of consumption peaked at $X in 2021, and then declined slightly in the following year.

Cream Fresh Production in South-Eastern Asia

In value terms, cream fresh production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 43%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), Thailand (X tons) and Malaysia (X tons), with a combined 99.9% share of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Thailand (with a CAGR of +6.0%), while production for the other leaders experienced a decline in the production figures.

Cream Fresh Exports

Exports in South-Eastern Asia

In 2022, the amount of cream fresh exported in South-Eastern Asia expanded to X tons, surging by 4.3% compared with the previous year's figure. In general, exports showed a significant increase. The growth pace was the most rapid in 2014 when exports increased by 110% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, cream fresh exports shrank modestly to $X in 2022. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 67% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand represented the main exporting country with an export of around X tons, which reached 81% of total exports. Malaysia (X tons) took the second position in the ranking, followed by the Philippines (X tons). All these countries together held approx. 16% share of total exports.

Exports from Thailand increased at an average annual rate of +32.9% from 2012 to 2022. At the same time, the Philippines (+107.3%) and Malaysia (+9.8%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +107.3% from 2012-2022. Thailand (+49 p.p.) and the Philippines (+4.6 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -19% from 2012 to 2022, respectively.

In value terms, Thailand ($X) remains the largest cream fresh supplier in South-Eastern Asia, comprising 60% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 24% share of total exports.

In Thailand, cream fresh exports increased at an average annual rate of +27.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (+17.6% per year) and the Philippines (+131.2% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, shrinking by -5.9% against the previous year. Overall, the export price showed a mild shrinkage. The pace of growth was the most pronounced in 2017 when the export price increased by 16%. Over the period under review, the export prices reached the maximum 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 Malaysia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+11.6%), while the other leaders experienced mixed trends in the export price figures.

Cream Fresh Imports

Imports in South-Eastern Asia

Cream fresh imports declined to X tons in 2022, with a decrease of -14.9% against 2021 figures. Total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 25% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then declined in the following year.

In value terms, cream fresh imports stood at $X in 2022. Overall, imports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 32% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Malaysia (X tons), distantly followed by Singapore (X tons), the Philippines (X tons), Vietnam (X tons), Indonesia (X tons) and Thailand (X tons) were the main importers of cream fresh, together generating 90% of total imports. Cambodia (X tons) took a little 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 Vietnam (with a CAGR of +13.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Singapore ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2022, with a combined 69% share of total imports. Vietnam, Indonesia, Thailand and Cambodia lagged somewhat behind, together accounting for a further 27%.

Vietnam, with a CAGR of +16.3%, 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 more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, jumping by 19% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The pace of growth was the most pronounced in 2017 when the import price increased by 24% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+10.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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