South-Eastern Asia: Yoghurt Market 2024

Yoghurt Market Size in South-Eastern Asia

The Southeast Asian yoghurt market shrank modestly to $X in 2022, almost unchanged from the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 7.8% against the previous year. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Yoghurt Production in South-Eastern Asia

In value terms, yoghurt production shrank to $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2021 when the production volume increased by 11%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Yoghurt Exports

Exports in South-Eastern Asia

In 2022, yoghurt exports in South-Eastern Asia reduced sharply to X tons, waning by -82.9% against 2021. Overall, exports faced a deep setback. The pace of growth was the most pronounced in 2015 when exports increased by 57% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, yoghurt exports reduced remarkably to $X in 2022. In general, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 67%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam represented the major exporter of yoghurt in South-Eastern Asia, with the volume of exports finishing at X tons, which was near 52% of total exports in 2022. It was distantly followed by Malaysia (X tons) and Indonesia (X tons), together achieving a 44% share of total exports. Singapore (X tons) took a relatively small share of total exports.

Vietnam was also the fastest-growing in terms of the yoghurt exports, with a CAGR of +71.9% from 2012 to 2022. At the same time, Indonesia (+13.8%) and Singapore (+7.7%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. While the share of Vietnam (+52 p.p.), Indonesia (+18 p.p.), Malaysia (+17 p.p.) and Singapore (+2.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest yoghurt supplier in South-Eastern Asia, comprising 60% of total exports. The second position in the ranking was held by Malaysia ($X), with a 20% share of total exports. It was followed by Indonesia, with a 15% share.

In Vietnam, yoghurt exports expanded at an average annual rate of +65.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (-3.5% per year) and Indonesia (+17.3% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, jumping by 36% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.2%), while the other leaders experienced mixed trends in the export price figures.

Yoghurt Imports

Imports in South-Eastern Asia

After four years of growth, overseas purchases of yoghurt decreased by -4.9% to X tons in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 36%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped modestly in the following year.

In value terms, yoghurt imports fell to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.3% 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 +50.8% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 31%. The level of import peaked at $X in 2021, and then contracted modestly in the following year.

Imports by Country

The purchases of the six major importers of yoghurt, namely Cambodia, Singapore, Lao People's Democratic Republic, the Philippines, Vietnam and Myanmar, represented more than two-thirds of total import. Malaysia (X tons) and Brunei Darussalam (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +65.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest yoghurt importing markets in South-Eastern Asia were Singapore ($X), Cambodia ($X) and the Philippines ($X), together comprising 60% of total imports.

Cambodia, with a CAGR of +61.5%, recorded the highest rates of growth with regard to 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, rising by 3% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2017 when the import price increased by 27%. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 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 Malaysia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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