Asia-Pacific: Powdered Milk Market 2024

Powdered Milk Market Size in Asia-Pacific

In 2022, the Asia-Pacific powdered milk market increased by X% to $X, rising for the sixth consecutive year after two years of decline. The market 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 throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Powdered Milk Production in Asia-Pacific

In value terms, powdered milk production rose slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

New Zealand (X tons) constituted the country with the largest volume of powdered milk production, comprising approx. X% of total volume. Moreover, powdered milk production in New Zealand exceeded the figures recorded by the second-largest producer, India (X tons), sixfold. The third position in this ranking was held by Australia (X tons), with a X% share.

In New Zealand, powdered milk production 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).

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Powdered Milk Exports

Exports in Asia-Pacific

Powdered milk exports dropped to X tons in 2022, declining by X% on 2021 figures. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then contracted in the following year.

In value terms, powdered milk exports contracted modestly to $X in 2022. Total exports indicated a modest 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, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

New Zealand was the key exporting country with an export of around X tons, which amounted to X% of total exports. It was distantly followed by Australia (X tons), generating a X% share of total exports. Singapore (X tons) held a minor share of total exports.

New Zealand experienced a relatively flat trend pattern with regard to volume of exports of powdered milk. Australia (X%) and Singapore (X%) illustrated a downward trend over the same period. While the share of 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. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in New Zealand amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Australia (X% per year) and Singapore (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 notable 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, powdered milk export price increased by X% against 2016 indices. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2014; afterwards, it flattened through to 2022.

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

Powdered Milk Imports

Imports in Asia-Pacific

Powdered milk imports contracted to X tons in 2022, which is down by X% against 2021 figures. The total import 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 2013 when imports increased by X%. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, powdered milk imports expanded significantly to $X in 2022. Total imports indicated a moderate 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 2016 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China was the major importing country with an import of around X tons, which finished at X% of total imports. Indonesia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (X%), Malaysia (X%), Thailand (X%), Bangladesh (X%), Vietnam (X%) and Singapore (X%).

China was also the fastest-growing in terms of the powdered milk imports, with a CAGR of X% from 2012 to 2022. At the same time, Indonesia (X%), Bangladesh (X%), the Philippines (X%), Thailand (X%) and Malaysia (X%) displayed positive paces of growth. Vietnam 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 increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported powdered milk in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by the Philippines, 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: Indonesia (X% per year) and the Philippines (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 modest increase 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. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in China ($X per ton) and Vietnam ($X per ton), while Bangladesh ($X per ton) and the Philippines ($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

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