South-Eastern Asia: Dairy Machinery Market 2024

Dairy Machinery Market Size in South-Eastern Asia

The Southeast Asian dairy machinery market surged to $X in 2022, with an increase of 23% against the previous year. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 +6.7% against 2018 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Dairy Machinery Production in South-Eastern Asia

In value terms, dairy machinery production expanded notably to $X in 2022 estimated in export price. Overall, production continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 75%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Dairy Machinery Exports

Exports in South-Eastern Asia

In 2022, dairy machinery exports in South-Eastern Asia soared to X units, with an increase of 49% against 2021. Over the period under review, exports, however, recorded a deep reduction. The pace of growth was the most pronounced in 2020 with an increase of 158% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, dairy machinery exports surged to $X in 2022. In general, exports, however, saw a deep setback. The pace of growth was the most pronounced in 2020 when exports increased by 196% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Singapore (X units) and Thailand (X units) represented the major exporters of dairy machinery in South-Eastern Asia, together finishing at approx. 78% of total exports. It was distantly followed by Malaysia (X units), creating a 15% share of total exports. The following exporters - Vietnam (X units) and Indonesia (X units) - each accounted for a 6% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Thailand (with a CAGR of +19.6%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) emerged as the largest dairy machinery supplier in South-Eastern Asia, comprising 58% of total exports. The second position in the ranking was held by Malaysia ($X), with a 19% share of total exports. It was followed by Thailand, with an 18% share.

From 2012 to 2022, the average annual growth rate of value in Singapore amounted to -6.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+0.6% per year) and Thailand (+10.6% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, picking up by 14% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 19% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.5%), while the other leaders experienced more modest paces of growth.

Dairy Machinery Imports

Imports in South-Eastern Asia

In 2022, approx. X units of dairy machinery were imported in South-Eastern Asia; picking up by 94% against the year before. In general, imports showed a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, dairy machinery imports skyrocketed to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X units) was the major importer of dairy machinery, creating 53% of total imports. Malaysia (X units) held a 24% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (8.3%) and the Philippines (7.2%). The following importers - Thailand (X units) and Singapore (X units) - each resulted at a 6.2% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to dairy machinery imports into Indonesia stood at +1.4%. At the same time, Malaysia (+12.6%) and Singapore (+6.1%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +12.6% from 2012-2022. The Philippines experienced a relatively flat trend pattern. By contrast, Thailand (-7.3%) and Vietnam (-11.5%) illustrated a downward trend over the same period. While the share of Malaysia (+17 p.p.) and Indonesia (+5.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (-4.1 p.p.) and Vietnam (-20.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest dairy machinery importing markets in South-Eastern Asia were Indonesia ($X), Malaysia ($X) and Vietnam ($X), with a combined 83% share of total imports.

In terms of the main importing countries, Malaysia, with a CAGR of +13.0%, recorded 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 import price in South-Eastern Asia amounted to $X per unit, picking up by 11% against the previous year. In general, the import price, however, continues to indicate a mild decrease. The pace of growth was the most pronounced in 2020 when the import price increased by 15%. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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