Asia: Milk Market 2024

Milk Market Size in Asia

The Asian milk market totaled $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Milk Production in Asia

In value terms, milk production reached $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

India (X tons) remains the largest milk producing country in Asia, accounting for X% of total volume. Moreover, milk production in India exceeded the figures recorded by the second-largest producer, Pakistan (X tons), fourfold. China (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual growth rate of volume in India totaled X%. The remaining producing countries recorded the following average annual rates of production growth: Pakistan (X% per year) and China (X% per year).

Milk Exports

Exports in Asia

After four years of growth, shipments abroad of milk decreased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The volume of export peaked at X tons in 2021, and then reduced in the following year.

In value terms, milk exports dropped modestly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when exports increased by X%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia was the major exporting country with an export of around X tons, which reached X% of total exports. Thailand (X tons) held the second position in the ranking, distantly followed by the United Arab Emirates (X tons) and China (X tons). All these countries together held approx. X% share of total exports. Malaysia (X tons), Kazakhstan (X tons), India (X tons), Turkey (X tons), Bangladesh (X tons), Kuwait (X tons), Kyrgyzstan (X tons) and Japan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to milk exports from Saudi Arabia stood at X%. At the same time, Bangladesh (X%), Kazakhstan (X%), Thailand (X%), Japan (X%), the United Arab Emirates (X%), India (X%), Turkey (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, China (X%), Kuwait (X%) and Kyrgyzstan (X%) illustrated a downward trend over the same period. Thailand (X p.p.), Bangladesh (X p.p.), Kazakhstan (X p.p.), Kuwait (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while China, Kyrgyzstan and Saudi Arabia saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), Thailand ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports. China, Malaysia, Japan, India, Kazakhstan, Turkey, Bangladesh, Kuwait and Kyrgyzstan lagged somewhat behind, together comprising a further X%.

Bangladesh, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of X% 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.

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

Milk Imports

Imports in Asia

In 2022, purchases abroad of milk decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, imports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then declined remarkably in the following year.

In value terms, milk imports reduced to $X in 2022. Total imports indicated a buoyant increase 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 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of import peaked at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, China (X tons) represented the key importer of milk, achieving X% of total imports. It was distantly followed by the Philippines (X tons), the United Arab Emirates (X tons), Singapore (X tons) and Hong Kong SAR (X tons), together creating a X% share of total imports. Iraq (X tons), Taiwan (Chinese) (X tons), Vietnam (X tons), Kuwait (X tons), Malaysia (X tons), South Korea (X tons), Yemen (X tons) and Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to milk imports into China stood at X%. At the same time, South Korea (X%), Iraq (X%), Vietnam (X%), Taiwan (Chinese) (X%), Malaysia (X%), the Philippines (X%), Yemen (X%), the United Arab Emirates (X%), Singapore (X%) and Hong Kong SAR (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. By contrast, Oman (X%) and Kuwait (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Iraq (X p.p.), the Philippines (X p.p.), Kuwait (X p.p.) and South Korea (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Oman (X p.p.), Hong Kong SAR (X p.p.), Singapore (X p.p.) and the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported milk in Asia, comprising X% of total imports. The second position in the ranking was taken by Singapore ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Taiwan (Chinese) ($X per ton), while Iraq ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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