Eastern Asia: Dairy Spread Market 2024

Dairy Spread Market Size in Eastern Asia

The East Asian dairy spread market shrank modestly to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2022.

Dairy Spread Production in Eastern Asia

In value terms, dairy spread production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by 19%. Over the period under review, production attained the peak level at $X in 2019; afterwards, it flattened through to 2022.

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Dairy Spread Exports

Exports in Eastern Asia

In 2022, dairy spread exports in Eastern Asia reached X tons, increasing by 7% against 2021. In general, exports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2015 when exports increased by 109% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, dairy spread exports amounted to $X in 2022. Overall, exports, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2016 with an increase of 73% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) prevails in exports structure, accounting for X tons, which was near 96% of total exports in 2022. South Korea (X kg) followed a long way behind the leaders.

Taiwan (Chinese) was also the fastest-growing in terms of the dairy spreads exports, with a CAGR of +32.3% from 2012 to 2022. At the same time, South Korea (+29.7%) displayed positive paces of growth. From 2012 to 2022, the share of Taiwan (Chinese) and South Korea increased by +95 and +3.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Taiwan (Chinese) ($X) remains the largest dairy spread supplier in Eastern Asia, comprising 96% of total exports. The second position in the ranking was taken by South Korea ($X), with a 2.3% share of total exports.

In Taiwan (Chinese), dairy spread exports increased at an average annual rate of +38.7% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, flattening at the previous year. Export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy spread export price increased by +87.4% against 2015 indices. The growth pace was the most rapid in 2020 when the export price increased by 23%. The level of export peaked at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while South Korea totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.9%).

Dairy Spread Imports

Imports in Eastern Asia

In 2022, approx. X tons of dairy spreads were imported in Eastern Asia; surging by 12% compared with the year before. In general, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 51%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, dairy spread imports soared to $X in 2022. Overall, imports enjoyed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea prevails in imports structure, amounting to X tons, which was approx. 95% of total imports in 2022. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to dairy spread imports into South Korea stood at +7.7%. At the same time, Taiwan (Chinese) (+24.3%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +24.3% from 2012-2022. While the share of South Korea (+11 p.p.) and Taiwan (Chinese) (+2.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported dairy spreads in Eastern Asia, comprising 95% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 3.6% share of total imports.

In South Korea, dairy spread imports increased at an average annual rate of +12.4% over the period from 2012-2022.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, rising by 31% against the previous year. Import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while South Korea stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.3%).

Source: IndexBox Platform

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