South-Eastern Asia: Whole Fresh Milk Market 2024

Whole Fresh Milk Market Size in South-Eastern Asia

The Southeast Asian whole fresh milk market reached $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 8.6%. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Whole Fresh Milk Production in South-Eastern Asia

In value terms, whole fresh milk production amounted to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 10% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Myanmar (X tons), Indonesia (X tons) and Thailand (X tons), with a combined 80% share of total production. Vietnam lagged somewhat behind, accounting for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Vietnam (with a CAGR of +10.1%), while production for the other leaders experienced more modest paces of growth.

Whole Fresh Milk Exports

Exports in South-Eastern Asia

In 2022, after three years of growth, there was decline in shipments abroad of whole fresh milk, when their volume decreased by -2.4% to X tons. Over the period under review, exports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 91% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, whole fresh milk exports fell to $X in 2022. In general, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 74% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then declined in the following year.

Exports by Country

In 2022, Thailand (X tons) represented the main exporter of whole fresh milk, mixing up 82% of total exports. Malaysia (X tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (5.9%).

Thailand was also the fastest-growing in terms of the whole fresh milk exports, with a CAGR of +21.0% from 2012 to 2022. Malaysia experienced a relatively flat trend pattern. Indonesia (-10.5%) illustrated a downward trend over the same period. While the share of Thailand (+55 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-15.4 p.p.) and Indonesia (-34.7 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest whole fresh milk supplier in South-Eastern Asia, comprising 86% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 7.9% share of total exports.

In Thailand, whole fresh milk exports increased at an average annual rate of +18.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-3.9% per year) and Indonesia (-10.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, falling by -7.9% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 9.5%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the export prices remained at a lower figure.

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 (-0.2%), while the other leaders experienced a decline in the export price figures.

Whole Fresh Milk Imports

Imports in South-Eastern Asia

Whole fresh milk imports expanded sharply to X tons in 2022, surging by 10% on the year before. Overall, imports saw resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by 32% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, whole fresh milk imports totaled $X in 2022. Over the period under review, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of 27% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, the Philippines (X tons) and Singapore (X tons) represented the key importers of whole fresh milk in South-Eastern Asia, together finishing at near 73% of total imports. Vietnam (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (9.5%). The following importers - Cambodia (X tons) and Indonesia (X tons) - each accounted for a 4.3% 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 Indonesia (with a CAGR of +38.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest whole fresh milk importing markets in South-Eastern Asia were Singapore ($X), the Philippines ($X) and Vietnam ($X), with a combined 85% share of total imports. Malaysia, Cambodia and Indonesia lagged somewhat behind, together comprising a further 14%.

In terms of the main importing countries, Indonesia, with a CAGR of +32.2%, 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

In 2022, the import price in South-Eastern Asia amounted to $X per ton, shrinking by -1.9% against the previous year. Overall, the import price recorded a mild downturn. The pace of growth was the most pronounced in 2021 when the import price increased by 6.1%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 Singapore (+0.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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