Eastern Asia: Cream Market 2021

Cream Market Size in Eastern Asia

The East Asian cream market totaled $X in 2020, growing by X% against the previous year. In general, consumption posted a resilient expansion. The pace of growth was the most pronounced in 2015 when the market value increased by X% year-to-year. The level of consumption peaked in 2020 and is likely to continue growth in the immediate term.

Cream Production in Eastern Asia

In value terms, cream production rose notably to $X in 2020 estimated in export prices. Overall, production enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% year-to-year. Over the period under review, production reached the maximum level in 2020 and is expected to retain growth in the immediate term.

Production By Country in Eastern Asia

China (X tons) remains the largest cream producing country in Eastern Asia, comprising approx. X% of total volume. Moreover, cream production in China exceeded the figures recorded by the second-largest producer, South Korea (X tons), tenfold. The third position in this ranking was occupied by Democratic People's Republic of Korea (X tons), with a X% share.

From 2007 to 2020, the average annual growth rate of volume in China amounted to +X%. The remaining producing countries recorded the following average annual rates of production growth: South Korea (+X% per year) and Democratic People's Republic of Korea (+X% per year).

Cream Exports

Exports in Eastern Asia

For the eighth year in a row, Eastern Asia recorded growth in overseas shipments of cream, which increased by X% to X tons in 2020. In general, exports recorded buoyant growth. The pace of growth was the most pronounced in 2011 when exports increased by X% year-to-year. The volume of export peaked in 2020 and is likely to see gradual growth in the immediate term.

In value terms, cream exports surged to $X in 2020. Over the period under review, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2010 when exports increased by X% against the previous year. The level of export peaked in 2020 and is likely to see gradual growth in years to come.

Exports by Country

In 2020, Hong Kong SAR (X tons) was the largest exporter of cream in Eastern Asia, creating X% of total export.

Hong Kong SAR was also the fastest-growing in terms of the cream exports, with a CAGR of +X% from 2007 to 2020. While the share of Hong Kong SAR (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) also remains the largest cream supplier in Eastern Asia.

In Hong Kong SAR, cream exports expanded at an average annual rate of +X% over the period from 2007-2020.

Export Prices by Country

In 2020, the cream export price in Eastern Asia amounted to $X per ton, surging by X% against the previous year. Overall, the export price saw a strong increase. The pace of growth appeared the most rapid in 2008 an increase of X% year-to-year. The level of export peaked in 2020 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.

From 2007 to 2020, the rate of growth in terms of prices for Hong Kong SAR amounted to +X% per year.

Cream Imports

Imports in Eastern Asia

Cream imports surged to X tons in 2020, growing by X% against 2019. In general, imports saw a remarkable increase. The growth pace was the most rapid in 2009 when imports increased by X% against the previous year. The volume of import peaked in 2020 and is likely to continue growth in the near future.

In value terms, cream imports soared to $X in 2020. Over the period under review, imports recorded a significant increase. The pace of growth appeared the most rapid in 2010 when imports increased by X% year-to-year. Over the period under review, imports reached the peak figure in 2020 and are likely to see steady growth in the near future.

Imports by Country

China represented the largest importer of cream in Eastern Asia, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2020. It was distantly followed by Taiwan (Chinese) (X tons), comprising a X% share of total imports. The following importers - South Korea (X tons), Hong Kong SAR (X tons) and Macao SAR (X tons) - together made up X% of total imports.

China was also the fastest-growing in terms of the cream imports, with a CAGR of +X% from 2007 to 2020. At the same time, Taiwan (Chinese) (+X%), South Korea (+X%) and Macao SAR (+X%) displayed positive paces of growth. By contrast, Hong Kong SAR (-X%) illustrated a downward trend over the same period. While the share of China (+X p.p.) increased significantly in terms of the total imports from 2007-2020, the share of Macao SAR (-X p.p.), Taiwan (Chinese) (-X p.p.), South Korea (-X p.p.) and Hong Kong SAR (-X p.p.) displayed negative dynamics.

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

From 2007 to 2020, the average annual rate of growth in terms of value in China amounted to +X%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+X% per year) and South Korea (+X% per year).

Import Prices by Country

The cream import price in Eastern Asia stood at $X per ton in 2020, surging by X% against the previous year. Import price indicated a remarkable increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, cream import price increased by +X% against 2007 indices. The pace of growth appeared the most rapid in 2008 an increase of X% year-to-year. The level of import peaked in 2020 and is likely to see steady growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was Macao SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Macao SAR, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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