Southern Asia: Cream Fresh Market 2024

Cream Fresh Market Size in Southern Asia

The South Asian cream fresh market expanded sharply to $X in 2022, increasing by 14% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +53.6% against 2019 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Cream Fresh Production in Southern Asia

In value terms, cream fresh production expanded notably to $X in 2022 estimated in export price. The total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -10.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 67% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Pakistan (X tons), India (X tons) and Bangladesh (X tons).

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +15.2%), while production for the other leaders experienced more modest paces of growth.

Cream Fresh Exports

Exports in Southern Asia

In 2022, the amount of cream fresh exported in Southern Asia fell significantly to X tons, declining by -22.2% against the previous year's figure. In general, exports, however, posted prominent growth. The growth pace was the most rapid in 2018 when exports increased by 255%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cream fresh exports declined significantly to $X in 2022. Overall, exports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2021 when exports increased by 198% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, India (X tons) was the major exporter of cream fresh, mixing up 66% of total exports. Bangladesh (X tons) ranks second in terms of the total exports with a 25% share, followed by Pakistan (9.1%).

From 2012 to 2022, average annual rates of growth with regard to cream fresh exports from India stood at +23.5%. At the same time, Bangladesh (+36.2%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +36.2% from 2012-2022. By contrast, Pakistan (-5.2%) illustrated a downward trend over the same period. While the share of India (+36 p.p.) and Bangladesh (+21 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Pakistan (-49.2 p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest cream fresh supplier in Southern Asia, comprising 62% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +14.4%. In the other countries, the average annual rates were as follows: Pakistan (+2.6% per year) and Bangladesh (+25.6% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, falling by -10.8% against the previous year. Overall, the export price continues to indicate a perceptible downturn. The pace of growth was the most pronounced in 2020 an increase of 71% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+8.3%), while the other leaders experienced a decline in the export price figures.

Cream Fresh Imports

Imports in Southern Asia

In 2022, cream fresh imports in Southern Asia surged to X tons, picking up by 20% against the previous year's figure. Overall, imports showed a strong increase. The growth pace was the most rapid in 2020 with an increase of 82%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, cream fresh imports surged to $X in 2022. Over the period under review, imports showed a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Afghanistan (X tons) and Maldives (X tons) represented roughly 57% of total imports in 2022. Bhutan (X tons) took the next position in the ranking, followed by India (X tons), Sri Lanka (X tons) and Bangladesh (X tons). All these countries together held approx. 40% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +23.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cream fresh importing markets in Southern Asia were Maldives ($X), Afghanistan ($X) and India ($X), with a combined 83% share of total imports. Sri Lanka, Bhutan and Bangladesh lagged somewhat behind, together accounting for a further 14%.

Bangladesh, with a CAGR of +23.0%, saw 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 Southern Asia stood at $X per ton in 2022, with an increase of 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2014 when the import price increased by 28%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Maldives (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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