Eastern Asia: Butter Market 2024

Butter Market Size in Eastern Asia

The East Asian butter market expanded notably to $X in 2022, increasing by X% against the previous year. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in the near future.

Butter Production in Eastern Asia

In value terms, butter production totaled $X in 2022 estimated in export price. In general, production, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Butter Exports

Exports in Eastern Asia

In 2022, butter exports in Eastern Asia reduced to X tons, with a decrease of X% against 2021 figures. Over the period under review, exports saw a perceptible contraction. The pace of growth appeared the most rapid in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, butter exports expanded rapidly to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by X%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

China represented the largest exporting country with an export of around X tons, which amounted to X% of total exports. It was distantly followed by Hong Kong SAR (X tons), achieving a X% share of total exports.

Exports from China decreased at an average annual rate of X% from 2012 to 2022. Hong Kong SAR experienced a relatively flat trend pattern. While the share of Hong Kong SAR (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (X p.p.) displayed negative dynamics.

In value terms, the largest butter supplying countries in Eastern Asia were China ($X) and Hong Kong SAR ($X).

Hong Kong SAR, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%).

Butter Imports

Imports in Eastern Asia

For the third year in a row, Eastern Asia recorded growth in purchases abroad of butter, which increased by X% to X tons in 2022. In general, imports saw a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, butter imports skyrocketed to $X in 2022. Overall, imports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

China represented the key importer of butter in Eastern Asia, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. South Korea (X tons) ranks second in terms of the total imports with a X% share, followed by Taiwan (Chinese) (X%), Hong Kong SAR (X%) and Japan (X%).

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, South Korea (X%), Taiwan (Chinese) (X%) and Hong Kong SAR (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. Japan experienced a relatively flat trend pattern. China (X p.p.) and South Korea (X p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR, Taiwan (Chinese) and Japan saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

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

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, rising by X% against the previous year. Import price indicated a tangible 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 most prominent rate of growth was recorded in 2017 when the import price increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :