South-Eastern Asia: Milk Market 2024

Milk Market Size in South-Eastern Asia

The Southeast Asian milk market amounted to $X in 2022, approximately mirroring the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the market value increased by X%. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Milk Production in South-Eastern Asia

In value terms, milk production stood at $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

The countries with the highest volumes of production in 2022 were Myanmar (X tons), Indonesia (X tons) and Thailand (X tons), together accounting for X% of total production. These countries were followed by Vietnam, which accounted for a further X%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

Milk Exports

Exports in South-Eastern Asia

In 2022, after five years of growth, there was decline in overseas shipments of milk, when their volume decreased by X% to X tons. Overall, exports, however, showed prominent growth. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell slightly in the following year.

In value terms, milk exports shrank to $X in 2022. Over the period under review, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Thailand was the main exporter of milk in South-Eastern Asia, with the volume of exports reaching X tons, which was near X% of total exports in 2022. Malaysia (X tons) held the second position in the ranking, distantly followed by Indonesia (X tons). All these countries together took approx. X% share of total exports.

Thailand was also the fastest-growing in terms of the milk exports, with a CAGR of X% from 2012 to 2022. At the same time, Malaysia (X%) displayed positive paces of growth. By contrast, Indonesia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand increased by X percentage points.

In value terms, Thailand ($X) remains the largest milk supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Thailand totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the export price increased by X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, 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 Indonesia (X%), while the other leaders experienced a decline in the export price figures.

Milk Imports

Imports in South-Eastern Asia

In 2022, imports of milk in South-Eastern Asia rose sharply to X tons, increasing by X% compared with the previous year. Overall, imports saw prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, milk imports rose significantly to $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

The Philippines (X tons) and Singapore (X tons) were the key importers of milk in 2022, recording approx. X% and X% of total imports, respectively. Vietnam (X tons) took the next position in the ranking, followed by Malaysia (X tons). All these countries together held near X% share of total imports. Cambodia (X tons) held a minor share of total imports.

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

In value terms, Singapore ($X), the Philippines ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Malaysia and Cambodia lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Cambodia, with a CAGR of X%, saw 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

In 2022, the import price in South-Eastern Asia amounted to $X per ton, dropping by X% against the previous year. Overall, the import price showed a slight downturn. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a 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 ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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