China: Powdered Milk Market 2023

Powdered Milk Market Size in China

In 2021, the Chinese powdered milk market increased by 36% to $X, rising for the fifth consecutive year after two years of decline. In general, consumption saw a strong increase. Powdered milk consumption peaked in 2021 and is expected to retain growth in the near future.

Powdered Milk Exports

Exports from China

After two years of decline, overseas shipments of powdered milk increased by 169% to X tons in 2021. Overall, exports, however, showed a drastic downturn. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, powdered milk exports skyrocketed to $X in 2021. In general, exports, however, recorded a deep reduction. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for powdered milk exports from China, accounting for a 40% share of total exports. Moreover, powdered milk exports to Hong Kong SAR exceeded the volume sent to the second major destination, Malaysia (X tons), twofold. The third position in this ranking was held by the United Arab Emirates (X tons), with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hong Kong SAR totaled -7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+40.4% per year) and the United Arab Emirates (+134.5% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for powdered milk exports from China, comprising 48% of total exports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total exports. It was followed by South Korea, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR totaled -9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+31.0% per year) and South Korea (+2,548.0% per year).

Export Prices by Country

In 2021, the average powdered milk export price amounted to $X per ton, dropping by -11.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average export price increased by 21%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Democratic People's Republic of Korea (+7.8%), while the prices for the other major destinations experienced a decline.

Powdered Milk Imports

Imports into China

Powdered milk imports into China soared to X tons in 2021, picking up by 30% on 2020 figures. In general, imports posted a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 49% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, powdered milk imports skyrocketed to $X in 2021. Overall, imports continue to indicate strong growth. The growth pace was the most rapid in 2013 when imports increased by 86% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, New Zealand (X tons) constituted the largest supplier of powdered milk to China, with a 70% share of total imports. Moreover, powdered milk imports from New Zealand exceeded the figures recorded by the second-largest supplier, Australia (X tons), tenfold. The third position in this ranking was held by the United States (X tons), with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from New Zealand stood at +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+20.8% per year) and the United States (+11.0% per year).

In value terms, New Zealand ($X) constituted the largest supplier of powdered milk to China, comprising 68% of total imports. The second position in the ranking was taken by Australia ($X), with a 10% share of total imports. It was followed by the United States, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value from New Zealand totaled +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+26.8% per year) and the United States (+10.3% per year).

Import Prices by Country

In 2021, the average powdered milk import price amounted to $X per ton, picking up by 7.3% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 25% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Australia ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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