Asia-Pacific: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Asia-Pacific

For the third year in a row, the Asia-Pacific butter and dairy spreads market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption, however, saw a strong expansion. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in years to come.

Production of Butter And Dairy Spreads in Asia-Pacific

In value terms, butter and dairy spreads production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid 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 2018; however, from 2019 to 2022, production failed to regain momentum.

New Zealand (X tons) remains the largest butter and dairy spreads producing country in Asia-Pacific, accounting for X% of total volume. Moreover, butter and dairy spreads production in New Zealand exceeded the figures recorded by the second-largest producer, Australia (X tons), eightfold.

In New Zealand, butter and dairy spreads production increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Australia (X% per year) and India (X% per year).

Exports of Butter And Dairy Spreads

Exports in Asia-Pacific

In 2022, exports of butter and dairy spreads in Asia-Pacific rose rapidly to X tons, growing by X% on the previous year's figure. Over the period under review, exports, however, recorded a mild slump. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, butter and dairy spreads exports skyrocketed to $X in 2022. Total exports indicated temperate 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

New Zealand dominates exports structure, accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by India (X tons), generating a X% share of total exports. Australia (X tons) took a relatively small share of total exports.

New Zealand experienced a relatively flat trend pattern with regard to volume of exports of butter and dairy spreads. At the same time, India (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Australia (X%) illustrated a downward trend over the same period. While the share of India (X p.p.) and New Zealand (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Australia (X p.p.) displayed negative dynamics.

In value terms, New Zealand ($X) remains the largest butter and dairy spreads supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in New Zealand stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: India (X% per year) and Australia (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by X% against the previous year. Export price indicated a strong expansion 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, butter and dairy spreads export price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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

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

Imports of Butter And Dairy Spreads

Imports in Asia-Pacific

For the third consecutive year, Asia-Pacific recorded growth in supplies from abroad of butter and dairy spreads, which increased by X% to X tons in 2022. Total imports indicated resilient growth from 2012 to 2022: its volume 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 2018 indices. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, butter and dairy spreads imports surged to $X in 2022. Over the period under review, imports recorded a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

China represented the major importing country with an import of about X tons, which resulted at X% of total imports. It was distantly followed by Australia (X tons), South Korea (X tons), Taiwan (Chinese) (X tons), Indonesia (X tons) and Singapore (X tons), together comprising a X% share of total imports. The following importers - Hong Kong SAR (X tons), Malaysia (X tons), Japan (X tons) and the Philippines (X tons) - together made up X% of total imports.

China was also the fastest-growing in terms of the butter and dairy spreads imports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%), Indonesia (X%), the Philippines (X%), Malaysia (X%), Taiwan (Chinese) (X%), Australia (X%) and Hong Kong SAR (X%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and South Korea increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported butter and dairy spreads in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with an X% share of total imports. It was followed by Australia, with an X% share.

In China, butter and dairy spreads imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Australia (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, surging by X% against the previous year. Import price indicated tangible 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, butter and dairy spreads import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Indonesia ($X per ton) and Singapore ($X per ton), while Australia ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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