ASEAN: Powdered Milk Market 2024

Powdered Milk Market Size in ASEAN

In 2022, the ASEAN powdered milk market increased by X% to $X, rising for the sixth consecutive year after two years of decline. The total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Powdered Milk Production in ASEAN

In value terms, powdered milk production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

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

From 2012 to 2022, the average annual growth rate of volume in Vietnam totaled X%.

Powdered Milk Exports

Exports in ASEAN

For the third consecutive year, ASEAN recorded decline in shipments abroad of powdered milk, which decreased by X% to X tons in 2022. Over the period under review, exports showed a perceptible downturn. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, powdered milk exports rose markedly to $X in 2022. In general, exports continue to indicate a perceptible reduction. The growth pace was the most rapid in 2019 with an increase of X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore represented the largest exporting country with an export of around X tons, which reached X% of total exports. It was distantly followed by Malaysia (X tons), Vietnam (X tons), Thailand (X tons) and the Philippines (X tons), together achieving a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest powdered milk supplying countries in ASEAN were Singapore ($X), Malaysia ($X) and Vietnam ($X), with a combined X% share of total exports.

Among the main exporting countries, Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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 the Philippines ($X per ton), while Thailand ($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 (X%), while the other leaders experienced more modest paces of growth.

Powdered Milk Imports

Imports in ASEAN

In 2022, the amount of powdered milk imported in ASEAN rose sharply to X tons, surging by X% against the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, powdered milk imports soared to $X in 2022. Total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons), distantly followed by the Philippines (X tons), Malaysia (X tons), Thailand (X tons), Vietnam (X tons) and Singapore (X tons) were the largest importers of powdered milk, together generating X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest powdered milk importing markets in ASEAN were Indonesia ($X), the Philippines ($X) and Malaysia ($X), with a combined X% share of total imports.

The Philippines, with a CAGR of X%, saw the highest growth rate of 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 ASEAN stood at $X per ton in 2022, jumping by X% against the previous year. Import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk import price increased by X% against 2016 indices. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Vietnam ($X per ton) and Malaysia ($X per ton), while the Philippines ($X per ton) and Singapore ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :