Southern Asia: Lactose Market 2024

Lactose Market Size in Southern Asia

In 2022, the South Asian lactose market decreased by -4.2% to $X, falling for the second year in a row after four years of growth. The market value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Lactose Production in Southern Asia

In value terms, lactose production declined to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 16% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Lactose Exports

Exports in Southern Asia

Lactose exports dropped notably to X tons in 2022, with a decrease of -62.1% against 2021. Over the period under review, exports, however, saw mild growth. The most prominent rate of growth was recorded in 2021 when exports increased by 62% against the previous year. As a result, the exports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, lactose exports reduced dramatically to $X in 2022. In general, exports, however, enjoyed a temperate expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 46%. The level of export peaked at $X in 2021, and then declined rapidly in the following year.

Exports by Country

India (X tons) represented roughly 99% of total exports in 2022.

India was also the fastest-growing in terms of the lactose and lactose syrup exports, with a CAGR of +2.4% from 2012 to 2022. While the share of India (+4.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

In India, lactose exports expanded at an average annual rate of +3.6% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, with an increase of 36% against the previous year. Export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 42%. Over the period under review, the export prices attained the peak figure 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 +1.1% per year.

Lactose Imports

Imports in Southern Asia

In 2022, supplies from abroad of lactose and lactose syrup decreased by -13.5% to X tons, falling for the second consecutive year after nine years of growth. Overall, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 34%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, lactose imports declined modestly to $X in 2022. In general, imports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2017 when imports increased by 37% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank slightly in the following year.

Imports by Country

In 2022, India (X tons) was the largest importer of lactose and lactose syrup, mixing up 61% of total imports. It was distantly followed by Pakistan (X tons) and Bangladesh (X tons), together committing a 38% share of total imports.

Imports into India increased at an average annual rate of +7.8% from 2012 to 2022. At the same time, Pakistan (+18.9%) and Bangladesh (+14.7%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +18.9% from 2012-2022. Pakistan (+14 p.p.) and Bangladesh (+3.5 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -15.9% from 2012 to 2022, respectively.

In value terms, India ($X) constitutes the largest market for imported lactose and lactose syrup in Southern Asia, comprising 67% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 22% share of total imports.

In India, lactose imports increased at an average annual rate of +5.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+12.8% per year) and Bangladesh (+10.8% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, rising by 11% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced slump. The pace of growth appeared the most rapid in 2021 when the import price increased by 16%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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