Asia-Pacific: Butter Market 2024

Butter Market Size in Asia-Pacific

The Asia-Pacific butter market expanded to $X in 2022, rising by X% against 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 somewhat noticeable fluctuations being observed in certain years. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Butter Production in Asia-Pacific

In value terms, butter production dropped modestly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Butter Exports

Exports in Asia-Pacific

Butter exports rose remarkably to X tons in 2022, picking up by X% compared with 2021 figures. Overall, exports, however, saw a slight descent. The pace of growth appeared the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, butter exports surged to $X in 2022. Total exports indicated a noticeable 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, 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. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

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), committing a X% share of total exports. Australia (X tons) followed a long way behind the leaders.

New Zealand experienced a relatively flat trend pattern with regard to volume of exports of butter. 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. India (X p.p.) and New Zealand (X p.p.) significantly strengthened its position in terms of the total exports, while Australia saw its share reduced by X% from 2012 to 2022, respectively.

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

In New Zealand, butter exports 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: 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, picking up by X% against the previous year. Export price indicated a prominent 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 export price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 an increase of X%. The level of export peaked in 2022 and is likely to see gradual 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 mixed trends in the export price figures.

Butter Imports

Imports in Asia-Pacific

In 2022, butter imports in Asia-Pacific rose significantly to X tons, with an increase of X% against 2021 figures. Total imports indicated a strong increase 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 growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, butter imports skyrocketed to $X in 2022. In general, imports saw a buoyant increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X tons) was the key importer of butter, generating X% of total imports. Australia (X tons) ranks second in terms of the total imports with a X% share, followed by South Korea (X%), Taiwan (Chinese) (X%), Indonesia (X%) and Singapore (X%). 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.

Imports into China increased at an average annual rate 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. Moreover, South Korea emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, Singapore (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and South Korea (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (X p.p.), Taiwan (Chinese) (X p.p.), Japan (X p.p.), Australia (X p.p.) and Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in China totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Australia (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, growing by X% against the previous year. Import price indicated a noticeable 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 import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the import price increased by X%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

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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