South-Eastern Asia: Lactose Market 2024

Lactose Market Size in South-Eastern Asia

The Southeast Asian lactose market totaled $X in 2022, surging by 5% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Lactose Production in South-Eastern Asia

In value terms, lactose production fell modestly to $X in 2022 estimated in export price. In general, production showed a deep slump. The pace of growth appeared the most rapid in 2019 with an increase of 29% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Lactose Exports

Exports in South-Eastern Asia

In 2022, lactose exports in South-Eastern Asia expanded slightly to X tons, picking up by 1.6% on 2021 figures. In general, exports, however, saw a perceptible setback. The most prominent rate of growth was recorded in 2018 when exports increased by 95%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, lactose exports soared to $X in 2022. Overall, exports, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2017 with an increase of 270% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Singapore represented the main exporting country with an export of around X tons, which finished at 54% of total exports. Thailand (X tons) took the second position in the ranking, followed by Vietnam (X tons). All these countries together held near 38% share of total exports. The following exporters - Myanmar (X tons) and Indonesia (X tons) - each amounted to a 5.8% share of total exports.

Singapore was also the fastest-growing in terms of the lactose and lactose syrup exports, with a CAGR of +18.4% from 2012 to 2022. At the same time, Vietnam (+18.0%) displayed positive paces of growth. By contrast, Thailand (-14.8%), Indonesia (-24.7%) and Myanmar (-38.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore, Vietnam and Myanmar increased by +48, +17 and +3.2 percentage points, respectively.

In value terms, Singapore ($X) remains the largest lactose supplier in South-Eastern Asia, comprising 53% of total exports. The second position in the ranking was taken by Thailand ($X), with a 22% share of total exports. It was followed by Vietnam, with a 21% share.

In Singapore, lactose exports expanded at an average annual rate of +16.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-11.8% per year) and Vietnam (+21.8% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, increasing by 43% against the previous year. In general, the export price recorded modest growth. The most prominent rate of growth was recorded in 2017 when the export price increased by 201%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.5%), while the other leaders experienced mixed trends in the export price figures.

Lactose Imports

Imports in South-Eastern Asia

Lactose imports totaled X tons in 2022, picking up by 5% against 2021. The total import volume increased at an average annual rate of +4.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 18%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, lactose imports rose remarkably to $X in 2022. Total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 +112.5% against 2016 indices. The pace of growth was the most pronounced in 2020 when imports increased by 23% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

Indonesia represented the major importer of lactose and lactose syrup in South-Eastern Asia, with the volume of imports reaching X tons, which was near 34% of total imports in 2022. The Philippines (X tons) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (17%), Singapore (14%), Vietnam (13%) and Malaysia (5.1%).

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +8.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and the Philippines ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 69% of total imports.

In terms of the main importing countries, Indonesia, with a CAGR of +5.5%, 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

The import price in South-Eastern Asia stood at $X per ton in 2022, surging by 2.9% against the previous year. Overall, the import price, however, recorded a perceptible downturn. The pace of growth appeared the most rapid in 2021 an increase of 22% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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