South-Eastern Asia: Milk Market 2024

Milk Market Size in South-Eastern Asia

The Southeast Asian milk market reached $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the market value increased by X% against the previous year. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Milk Production in South-Eastern Asia

In value terms, milk production stood at $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Myanmar (X tons), Indonesia (X tons) and Thailand (X tons), together accounting for X% of total production. These countries were followed by Vietnam, which accounted for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Vietnam (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

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Milk Exports

Exports in South-Eastern Asia

In 2022, after five years of growth, there was decline in overseas shipments of milk, when their volume decreased by X% to X tons. Over the period under review, exports, however, saw a buoyant expansion. The growth pace was the most rapid in 2019 when exports increased by X%. The volume of export peaked at X tons in 2021, and then fell modestly in the following year.

In value terms, milk exports shrank to $X in 2022. Overall, exports, however, saw a prominent increase. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

Thailand represented the key exporting country with an export of around X tons, which reached X% of total exports. Malaysia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (X%).

Thailand was also the fastest-growing in terms of the milk exports, with a CAGR of X% from 2012 to 2022. At the same time, Malaysia (X%) displayed positive paces of growth. By contrast, Indonesia (X%) illustrated a downward trend over the same period. Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Indonesia saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Thailand ($X) remains the largest milk supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports.

In Thailand, milk exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, reducing by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced a decline in the export price figures.

Milk Imports

Imports in South-Eastern Asia

In 2022, milk imports in South-Eastern Asia rose rapidly to X tons, surging by X% on 2021. In general, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by X%. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, milk imports rose notably to $X in 2022. Total imports indicated buoyant growth 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 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

The Philippines (X tons) and Singapore (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Vietnam (X tons) and Malaysia (X tons), together comprising a X% share of total imports. Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest milk importing markets in South-Eastern Asia were Singapore ($X), the Philippines ($X) and Vietnam ($X), with a combined X% share of total imports. Malaysia and Cambodia lagged somewhat behind, together accounting for a further X%.

Cambodia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the import price, however, saw a slight shrinkage. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a 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 Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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