South-Eastern Asia: Powdered Milk Market 2024

Powdered Milk Market Size in South-Eastern Asia

In 2022, the Southeast Asian powdered milk market increased by 15% to $X, rising for the sixth consecutive year after two years of decline. The total consumption indicated a noticeable expansion 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 +68.8% against 2016 indices. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Powdered Milk Production in South-Eastern Asia

In value terms, powdered milk production rose slightly to $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +9.6% 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 -3.1% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 75%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Vietnam (X tons) remains the largest powdered milk producing country in South-Eastern Asia, accounting for 99% of total volume.

In Vietnam, powdered milk production expanded at an average annual rate of +4.7% over the period from 2012-2022.

Powdered Milk Exports

Exports in South-Eastern Asia

In 2022, after two years of decline, there was significant growth in shipments abroad of powdered milk, when their volume increased by 16% to X tons. Over the period under review, exports, however, saw a slight descent. The pace of growth was the most pronounced in 2015 with an increase of 43% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, powdered milk exports soared to $X in 2022. In general, exports, however, saw a mild downturn. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons) and Malaysia (X tons) represented the main exporters of powdered milk in 2022, finishing at approx. 39% and 33% of total exports, respectively. Vietnam (X tons) took the next position in the ranking, distantly followed by Thailand (X tons) and the Philippines (X tons). All these countries together took approx. 25% share of total exports. Indonesia (X tons) took a little 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 Vietnam (with a CAGR of +32.8%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and Vietnam ($X) constituted the countries with the highest levels of exports in 2022, together comprising 81% of total exports.

Vietnam, with a CAGR of +32.8%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, growing by 8.2% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 12%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 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 Indonesia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+7.1%), while the other leaders experienced more modest paces of growth.

Powdered Milk Imports

Imports in South-Eastern Asia

In 2022, approx. X tons of powdered milk were imported in South-Eastern Asia; increasing by 7.6% on the previous year's figure. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 8.9%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, powdered milk imports surged to $X in 2022. Total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 +93.2% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons), distantly followed by the Philippines (X tons), Malaysia (X tons), Vietnam (X tons), Thailand (X tons) and Singapore (X tons) represented the key importers of powdered milk, together generating 98% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Indonesia (with a CAGR of +5.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), the Philippines ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 63% share of total imports.

Indonesia, with a CAGR of +7.1%, saw the highest growth rate of the value of imports, in terms of 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, with an increase of 15% against the previous year. Import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk import price increased by +71.6% against 2016 indices. The pace of growth appeared the most rapid in 2017 an increase of 19% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Thailand ($X per ton) and Indonesia ($X per ton), while Vietnam ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :