Asia-Pacific: Market for Yoghurt and Fermented Milk 2024

Market Size for Yoghurt and Fermented Milk in Asia-Pacific

The Asia-Pacific yoghurt and fermented milk market expanded slightly 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 indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Yoghurt and Fermented Milk in Asia-Pacific

In value terms, yoghurt and fermented milk production stood at $X in 2022 estimated in export price. The total production 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), Japan (X tons) and Pakistan (X tons), together accounting for X% of total production. Bangladesh, Thailand, Australia and India lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

Exports of Yoghurt and Fermented Milk

Exports in Asia-Pacific

In 2022, the amount of yoghurt and fermented milk exported in Asia-Pacific rose significantly to X tons, picking up by X% against 2021. 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 in certain years. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, yoghurt and fermented milk exports totaled $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

Thailand represented the key exporter of yoghurt and fermented milk in Asia-Pacific, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2022. New Zealand (X tons) ranks second in terms of the total exports with a X% share, followed by Indonesia (X%). Australia (X tons), China (X tons), Malaysia (X tons) and South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to yoghurt and fermented milk exports from Thailand stood at X%. At the same time, China (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. Malaysia experienced a relatively flat trend pattern. By contrast, New Zealand (X%), South Korea (X%) and Australia (X%) illustrated a downward trend over the same period. While the share of Thailand (X p.p.) and China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (X p.p.), Australia (X p.p.) and New Zealand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest yoghurt and fermented milk supplying countries in Asia-Pacific were New Zealand ($X), Thailand ($X) and Australia ($X), with a combined X% share of total exports. Indonesia, China, Malaysia and South Korea lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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-Pacific amounted to $X per ton, reducing by X% against the previous year. In general, the export price continues to indicate a slight slump. The growth pace was the most rapid in 2019 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

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

Imports of Yoghurt and Fermented Milk

Imports in Asia-Pacific

In 2022, approx. X tons of yoghurt and fermented milk were imported in Asia-Pacific; approximately mirroring the year before. Total imports indicated a prominent 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 2012 indices. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, yoghurt and fermented milk imports rose rapidly to $X in 2022. Total imports indicated a resilient 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, imports increased by X% against 2016 indices. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, the Philippines (X tons) was the key importer of yoghurt and fermented milk, creating X% of total imports. China (X tons) ranks second in terms of the total imports with an X% share, followed by Hong Kong SAR (X%), Singapore (X%), Malaysia (X%), Afghanistan (X%) and Thailand (X%). Vietnam (X tons), Papua New Guinea (X tons), Cambodia (X tons), Indonesia (X tons), Australia (X tons) and Myanmar (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to yoghurt and fermented milk imports into the Philippines stood at X%. At the same time, Myanmar (X%), Cambodia (X%), Hong Kong SAR (X%), China (X%), Vietnam (X%), Malaysia (X%), Australia (X%), Papua New Guinea (X%), Afghanistan (X%), Singapore (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Thailand (X%) illustrated a downward trend over the same period. While the share of the Philippines (X p.p.), China (X p.p.), Hong Kong SAR (X p.p.), Cambodia (X p.p.) and Myanmar (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Indonesia (X p.p.), Singapore (X p.p.) and Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported yoghurt and fermented milk in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by Singapore ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the Philippines amounted to X%. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Malaysia (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. 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.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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