South-Eastern Asia: Market for Yoghurt and Fermented Milk 2024

Market Size for Yoghurt and Fermented Milk in South-Eastern Asia

The Southeast Asian yoghurt and fermented milk market soared to $X in 2022, picking up by X% against the previous year. The total consumption indicated a resilient increase 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, consumption increased by X% against 2015 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Production of Yoghurt and Fermented Milk in South-Eastern Asia

In value terms, yoghurt and fermented milk production shrank to $X in 2022 estimated in export price. Overall, production showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Indonesia (X tons) constituted the country with the largest volume of yoghurt and fermented milk production, accounting for X% of total volume. Moreover, yoghurt and fermented milk production in Indonesia exceeded the figures recorded by the second-largest producer, Thailand (X tons), threefold.

In Indonesia, yoghurt and fermented milk production increased at an average annual rate of X% over the period from 2012-2022.

Exports of Yoghurt and Fermented Milk

Exports in South-Eastern Asia

Yoghurt and fermented milk exports rose markedly to X tons in 2022, increasing by X% compared with 2021 figures. Total exports indicated a buoyant increase 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, yoghurt and fermented milk exports totaled $X in 2022. Total exports 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, exports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

Thailand represented the major exporter of yoghurt and fermented milk in South-Eastern Asia, with the volume of exports reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Indonesia (X tons), constituting an X% share of total exports. The following exporters - Malaysia (X tons), Singapore (X tons) and Vietnam (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to yoghurt and fermented milk exports from Thailand stood at X%. At the same time, Singapore (X%), Vietnam (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. Malaysia experienced a relatively flat trend pattern. 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. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest yoghurt and fermented milk supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with an X% share of total exports. It was followed by Singapore, with a X% share.

In Thailand, yoghurt and fermented milk exports increased 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: Indonesia (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2019 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the export prices remained at a somewhat lower figure.

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

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

Imports of Yoghurt and Fermented Milk

Imports in South-Eastern Asia

In 2022, approx. X tons of yoghurt and fermented milk were imported in South-Eastern Asia; growing by X% compared with the previous year. Total imports indicated a strong expansion 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 2012 indices. The growth pace was the most rapid in 2019 with an increase of X%. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, yoghurt and fermented milk imports totaled $X in 2022. Total imports indicated a remarkable increase 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 pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

The Philippines dominates imports structure, resulting at X tons, which was approx. X% of total imports in 2022. Singapore (X tons) ranks second in terms of the total imports with a X% share, followed by Malaysia (X%), Thailand (X%), Vietnam (X%) and Cambodia (X%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to yoghurt and fermented milk imports into the Philippines stood at X%. At the same time, Cambodia (X%), Vietnam (X%), Malaysia (X%), Singapore (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Thailand (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Philippines, Cambodia and Vietnam increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported yoghurt and fermented milk in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Singapore ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

In the Philippines, yoghurt and fermented milk imports 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: Singapore (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Thailand ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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