Eastern Asia: Powdered Milk Market 2024

Powdered Milk Market Size in Eastern Asia

In 2022, after six years of growth, there was significant decline in the East Asian powdered milk market, when its value decreased by X% to $X. 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 throughout the analyzed period. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Powdered Milk Production in Eastern Asia

In value terms, powdered milk production rose notably to $X in 2022 estimated in export price. Overall, production, however, showed a mild descent. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Japan (X tons) remains the largest powdered milk producing country in Eastern Asia, accounting for X% of total volume. Moreover, powdered milk production in Japan exceeded the figures recorded by the second-largest producer, South Korea (X tons), fourfold.

In Japan, powdered milk production declined by an average annual rate of X% over the period from 2012-2022.

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Powdered Milk Exports

Exports in Eastern Asia

After three years of decline, shipments abroad of powdered milk increased by X% to X tons in 2022. Over the period under review, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, powdered milk exports fell to $X in 2022. Overall, exports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR represented the major exporter of powdered milk in Eastern Asia, with the volume of exports recording X tons, which was near X% of total exports in 2022. Japan (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by China (X%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Japan (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Hong Kong SAR ($X) remains the largest powdered milk supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports.

In Hong Kong SAR, powdered milk exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, waning by X% against the previous year. Export price indicated a perceptible increase 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, powdered milk export price decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced mixed trends in the export price figures.

Powdered Milk Imports

Imports in Eastern Asia

Powdered milk imports fell remarkably to X tons in 2022, shrinking by X% compared with the year before. Total imports indicated tangible growth 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 2016 indices. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted markedly in the following year.

In value terms, powdered milk imports declined to $X in 2022. Total imports indicated a buoyant 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 most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China dominates imports structure, resulting at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), constituting a X% share of total imports. The following importers - Hong Kong SAR (X tons), Japan (X tons) and South Korea (X tons) - together made up X% of total imports.

China was also the fastest-growing in terms of the powdered milk imports, with a CAGR of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. South Korea experienced a relatively flat trend pattern. By contrast, Japan (X%) and 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 2012-2022, the share of Taiwan (Chinese) (X p.p.), Japan (X p.p.) and Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported powdered milk in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Hong Kong SAR ($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 growth rate of value in China stood at X%. In the other countries, the average annual rates were as follows: Hong Kong SAR (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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