South-Eastern Asia: Dairy Spread Market 2024

Dairy Spread Market Size in South-Eastern Asia

The Southeast Asian dairy spread market contracted to $X in 2022, falling by -3.1% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Dairy Spread Production in South-Eastern Asia

In value terms, dairy spread production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2018 with an increase of 21%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Dairy Spread Exports

Exports in South-Eastern Asia

Dairy spread exports reduced to X tons in 2022, dropping by -14.9% on 2021 figures. Over the period under review, exports continue to indicate a deep slump. The growth pace was the most rapid in 2014 when exports increased by 45% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, dairy spread exports fell slightly to $X in 2022. Overall, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 45%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, the Philippines (X tons) represented the key exporter of dairy spreads, mixing up 56% of total exports. It was distantly followed by Malaysia (X tons), Singapore (X tons) and Thailand (X tons), together constituting a 43% 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 the Philippines (with a CAGR of +51.8%), while the other leaders experienced a decline in the exports figures.

In value terms, the Philippines ($X) remains the largest dairy spread supplier in South-Eastern Asia, comprising 55% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 25% share of total exports. It was followed by Singapore, with a 17% share.

From 2012 to 2022, the average annual growth rate of value in the Philippines amounted to +61.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-11.0% per year) and Singapore (-13.9% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, growing by 13% against the previous year. Export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy spread export price increased by +78.8% against 2015 indices. The pace of growth appeared the most rapid in 2019 when the export price increased by 36% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

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 Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+7.4%), while the other leaders experienced more modest paces of growth.

Dairy Spread Imports

Imports in South-Eastern Asia

In 2022, imports of dairy spreads in South-Eastern Asia dropped to X tons, waning by -9.2% compared with the previous year. Over the period under review, imports showed a pronounced slump. The pace of growth appeared the most rapid in 2019 with an increase of 55% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, dairy spread imports shrank slightly to $X in 2022. In general, imports saw a abrupt contraction. The pace of growth was the most pronounced in 2019 with an increase of 53% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Lao People's Democratic Republic (X tons), Malaysia (X tons), Myanmar (X tons), Indonesia (X tons) and Singapore (X tons) represented roughly 83% of total imports in 2022. Vietnam (X tons) held a 5.9% share (based on physical terms) of total imports, which put it in second place, followed by Cambodia (5.9%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of +45.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest dairy spread importing markets in South-Eastern Asia were Malaysia ($X), Indonesia ($X) and Lao People's Democratic Republic ($X), together accounting for 63% of total imports. Singapore, Vietnam, Myanmar and Cambodia lagged somewhat behind, together accounting for a further 29%.

In terms of the main importing countries, Myanmar, with a CAGR of +16.7%, recorded the highest growth rate of 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

The import price in South-Eastern Asia stood at $X per ton in 2022, rising by 7% against the previous year. Over the period under review, the import price, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2017 an increase of 21% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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