South-Eastern Asia: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in South-Eastern Asia

In 2022, the Southeast Asian buttermilk and buttermilk powder market increased by 1.4% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption recorded a noticeable contraction. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Buttermilk And Buttermilk Powder in South-Eastern Asia

In value terms, buttermilk and buttermilk powder production reduced to $X in 2022 estimated in export price. In general, production saw a pronounced decrease. The pace of growth appeared the most rapid in 2016 when the production volume increased by 29%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Buttermilk And Buttermilk Powder

Exports in South-Eastern Asia

In 2022, approx. X tons of buttermilk and buttermilk powder were exported in South-Eastern Asia; surging by 4.6% compared with 2021. Total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +10.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +13.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 81%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, buttermilk and buttermilk powder exports amounted to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +9.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +7.8% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 79%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand represented the major exporter of buttermilk and buttermilk powder in South-Eastern Asia, with the volume of exports recording X tons, which was approx. 66% of total exports in 2022. Indonesia (X tons) ranks second in terms of the total exports with a 22% share, followed by Singapore (4.9%). Malaysia (X tons) and the Philippines (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to buttermilk and buttermilk powder exports from Thailand stood at +17.5%. At the same time, the Philippines (+27.1%), Singapore (+13.6%), Malaysia (+5.2%) and Indonesia (+1.9%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +27.1% from 2012-2022. From 2012 to 2022, the share of Thailand and the Philippines increased by +30 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest buttermilk and buttermilk powder supplier in South-Eastern Asia, comprising 52% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 19% share of total exports. It was followed by Singapore, with a 15% share.

In Thailand, buttermilk and buttermilk powder exports expanded at an average annual rate of +14.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+0.2% per year) and Singapore (+20.5% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, falling by -4.3% against the previous year. In general, the export price saw a slight slump. The pace of growth appeared the most rapid in 2019 when the export price increased by 27% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 (+6.1%), while the other leaders experienced a decline in the export price figures.

Imports of Buttermilk And Buttermilk Powder

Imports in South-Eastern Asia

In 2022, imports of buttermilk and buttermilk powder in South-Eastern Asia rose rapidly to X tons, picking up by 10% compared with the previous year's figure. In general, imports continue to indicate prominent growth. The growth pace was the most rapid in 2016 with an increase of 25%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, buttermilk and buttermilk powder imports rose significantly to $X in 2022. Total imports indicated a temperate 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, imports increased by +129.3% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 26%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

The Philippines dominates imports structure, reaching X tons, which was near 65% of total imports in 2022. Thailand (X tons) held an 8.3% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (7.7%) and Singapore (4.7%). Indonesia (X tons), Vietnam (X tons) and Cambodia (X tons) held a minor share of total imports.

Imports into the Philippines increased at an average annual rate of +13.7% from 2012 to 2022. At the same time, Vietnam (+14.9%), Cambodia (+12.3%) and Singapore (+6.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +14.9% from 2012-2022. Indonesia experienced a relatively flat trend pattern. By contrast, Malaysia (-3.6%) and Thailand (-4.2%) illustrated a downward trend over the same period. The Philippines (+31 p.p.) and Vietnam (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia, Malaysia and Thailand saw its share reduced by -4.1%, -13% and -15.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported buttermilk and buttermilk powder in South-Eastern Asia, comprising 53% of total imports. The second position in the ranking was held by Thailand ($X), with a 15% share of total imports. It was followed by Malaysia, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in the Philippines stood at +8.5%. In the other countries, the average annual rates were as follows: Thailand (-1.9% per year) and Malaysia (-0.6% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, growing by 4% against the previous year. Over the period under review, the import price, however, showed a slight setback. The most prominent rate of growth was recorded in 2013 an increase of 23% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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