Southern Asia: Powdered Milk Market 2024

Powdered Milk Market Size in Southern Asia

In 2022, the South Asian powdered milk market decreased by -2.1% to $X, falling for the second consecutive year after two years of growth. The total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -12.8% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Powdered Milk Production in Southern Asia

In value terms, powdered milk production expanded notably to $X in 2022 estimated in export price. The total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.0% 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 -7.9% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 46% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

The country with the largest volume of powdered milk production was India (X tons), comprising approx. 100% of total volume.

In India, powdered milk production expanded at an average annual rate of +6.2% over the period from 2012-2022.

Powdered Milk Exports

Exports in Southern Asia

In 2022, approx. X tons of powdered milk were exported in Southern Asia; with a decrease of -34.1% on 2021 figures. Over the period under review, exports saw a noticeable decrease. The growth pace was the most rapid in 2021 with an increase of 466% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, powdered milk exports declined significantly to $X in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 384% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of powdered milk, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the powdered milk exports, with a CAGR of -1.4% from 2012 to 2022. India (+10 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest powdered milk supplier in Southern Asia.

In India, powdered milk exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, growing by 27% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +2.0% per year.

Powdered Milk Imports

Imports in Southern Asia

In 2022, supplies from abroad of powdered milk decreased by -14.5% to X tons, falling for the third year in a row after six years of growth. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 21% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, powdered milk imports shrank remarkably to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 35%. Over the period under review, imports reached the maximum at $X in 2021, and then declined notably in the following year.

Imports by Country

In 2022, Bangladesh (X tons) represented the main importer of powdered milk, achieving 64% of total imports. Sri Lanka (X tons) took the second position in the ranking, distantly followed by Pakistan (X tons). All these countries together held near 30% share of total imports. The following importers - Afghanistan (X tons) and Maldives (X tons) - each accounted for a 4% share of total imports.

Bangladesh was also the fastest-growing in terms of the powdered milk imports, with a CAGR of +6.3% from 2012 to 2022. Maldives experienced a relatively flat trend pattern. Afghanistan (-1.8%), Sri Lanka (-4.6%) and Pakistan (-5.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bangladesh increased by +29 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bangladesh ($X) constitutes the largest market for imported powdered milk in Southern Asia, comprising 60% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with a 28% share of total imports. It was followed by Pakistan, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Bangladesh amounted to +5.2%. In the other countries, the average annual rates were as follows: Sri Lanka (-3.4% per year) and Pakistan (-7.1% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, shrinking by -3.7% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 14% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

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 Maldives ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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