Eastern Asia: Whole Fresh Milk Market 2024

Whole Fresh Milk Market Size in Eastern Asia

In 2022, the East Asian whole fresh milk market decreased by X% to $X, falling for the second year in a row after four years of growth. Overall, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Whole Fresh Milk Production in Eastern Asia

In value terms, whole fresh milk production stood at $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of whole fresh milk production was China (X tons), accounting for X% of total volume. Moreover, whole fresh milk production in China exceeded the figures recorded by the second-largest producer, Japan (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

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Whole Fresh Milk Exports

Exports in Eastern Asia

Whole fresh milk exports shrank modestly to X tons in 2022, which is down by X% on the year before. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, whole fresh milk exports fell to $X in 2022. Total exports indicated a pronounced 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, exports decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China was the major exporting country with an export of about X tons, which amounted to X% of total exports. Japan (X tons) ranks second in terms of the total exports with a X% share, followed by Hong Kong SAR (X%) and South Korea (X%).

Exports from China decreased at an average annual rate of X% from 2012 to 2022. At the same time, South Korea (X%), Japan (X%) and Hong Kong SAR (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. Japan (X p.p.) and South Korea (X p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and Hong Kong SAR ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. South Korea lagged somewhat behind, accounting for a further X%.

Among the main exporting countries, South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, reducing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2021, and then declined in the following year.

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 ($X per ton), while China ($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.

Whole Fresh Milk Imports

Imports in Eastern Asia

In 2022, after four years of growth, there was significant decline in overseas purchases of whole fresh milk, when their volume decreased by X% to X tons. In general, imports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2016 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then shrank sharply in the following year.

In value terms, whole fresh milk imports contracted remarkably to $X in 2022. Over the period under review, imports, however, showed buoyant growth. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2021, and then contracted notably in the following year.

Imports by Country

China was the main importer of whole fresh milk in Eastern Asia, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. Hong Kong SAR (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (X%). South Korea (X tons) took a relatively small share of total imports.

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. China (X p.p.) and South Korea (X p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported whole fresh milk in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with an X% share.

From 2012 to 2022, the average annual growth rate of value in China totaled 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

In 2022, the import price in Eastern Asia amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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