Southern Asia: Yoghurt Market 2024

Yoghurt Market Size in Southern Asia

The South Asian yoghurt market shrank modestly to $X in 2022, remaining stable against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +0.7% against 2020 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Yoghurt Production in Southern Asia

In value terms, yoghurt production declined modestly to $X in 2022 estimated in export price. The total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 +0.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 51%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Yoghurt Exports

Exports in Southern Asia

In 2022, approx. X tons of yoghurt were exported in Southern Asia; picking up by 12% compared with the previous year's figure. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 131%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, yoghurt exports expanded significantly to $X in 2022. Over the period under review, exports posted significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 198% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bangladesh prevails in exports structure, finishing at X tons, which was approx. 90% of total exports in 2022. Pakistan (X tons), Sri Lanka (X tons) and India (X tons) held a minor share of total exports.

Bangladesh was also the fastest-growing in terms of the yoghurt exports, with a CAGR of +44.0% from 2012 to 2022. At the same time, Sri Lanka (+17.3%) and India (+10.8%) displayed positive paces of growth. By contrast, Pakistan (-4.9%) illustrated a downward trend over the same period. While the share of Bangladesh (+69 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sri Lanka (-2.9 p.p.), India (-3.7 p.p.) and Pakistan (-59.1 p.p.) displayed negative dynamics.

In value terms, Bangladesh ($X) remains the largest yoghurt supplier in Southern Asia, comprising 91% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a 4.3% share of total exports. It was followed by India, with a 2.9% share.

From 2012 to 2022, the average annual growth rate of value in Bangladesh stood at +62.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Sri Lanka (+12.8% per year) and India (+12.6% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, stabilizing at the previous year. Export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yoghurt export price increased by +60.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 59% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, 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 Bangladesh (+13.0%), while the other leaders experienced mixed trends in the export price figures.

Yoghurt Imports

Imports in Southern Asia

In 2022, imports of yoghurt in Southern Asia contracted sharply to X tons, reducing by -29.3% on the previous year. In general, imports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 147%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, yoghurt imports contracted dramatically to $X in 2022. Over the period under review, imports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 135%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Maldives (X tons) represented the key importer of yoghurt, comprising 79% of total imports. It was distantly followed by Afghanistan (X tons), comprising a 16% share of total imports. India (X tons) held a little share of total imports.

Maldives was also the fastest-growing in terms of the yoghurt imports, with a CAGR of +9.2% from 2012 to 2022. India (-8.4%) and Afghanistan (-17.2%) illustrated a downward trend over the same period. Maldives (+57 p.p.) significantly strengthened its position in terms of the total imports, while Afghanistan saw its share reduced by -55.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Maldives ($X) constitutes the largest market for imported yoghurt in Southern Asia, comprising 76% of total imports. The second position in the ranking was taken by Afghanistan ($X), with an 18% share of total imports.

In Maldives, yoghurt imports expanded at an average annual rate of +2.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Afghanistan (-14.6% per year) and India (-12.6% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 82% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Afghanistan (+3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :