Concentrated sweetened milk and cream market in Asia

Earlier Report Observations

The Asian market for concentrated sweetened milk and cream began the period with growth, reaching 801 thousand tonnes in 2019. This expansion was supported by rising consumption in key countries like Thailand, Vietnam, and Indonesia, where the product is a staple for traditional desserts and beverages. Simultaneously, the launch of innovative squeeze-tube packaging by Fraser & Neave in Malaysia introduced a more convenient format, helping to stimulate sales and broaden the product's appeal.

Market volume then contracted sharply in 2020, falling by 26% to 595.5 thousand tonnes. A recovery followed over the next two years, with the market size climbing back to 700.3 thousand tonnes by 2022. However, this upward trend was interrupted in 2023, when volume declined again to 626.2 thousand tonnes.

By 2024, industry activity was marked by significant capacity investments and continuous product innovation. F&N Foods established a new subsidiary in Cambodia with plans to build a manufacturing plant, while GCMMF announced a major investment for an integrated dairy facility in India. The Asian region also saw a high rate of new product launches, focusing on novel flavors and a continued consumer shift toward convenient tube packaging.

Production concentrated sweetened milk and cream in Asia

In kind, 2017-2020, K t

Top producers of concentrated sweetened milk and cream, 2017-2020

World map of production of concentrated sweetened milk and cream, 2017-2020

Asia's production of concentrated sweetened milk and cream declined after two years of growth. In 2019, output peaked at 703.3 K t, but by 2020 it had fallen to 540.6 K t, marking a 23.1% decrease from the previous year. Over the period from 2017 to 2020, production dropped by 13.9%, which translates to an average annual decline of 4.9%. The largest year-on-year increase occurred in 2018, when production rose by 8.7%.

Annual dynamics of production in Asia in kind, 2017-2020, K t

Exports concentrated sweetened milk and cream from Asia

Exports in kind, K t

Exports of concentrated sweetened milk and cream from Asia exhibited significant volatility during the observed period. In 2018, exports hit their lowest point at 73.3 K t, representing a 70.6% decline from the previous year. However, they rebounded sharply in 2019 with a 96.4% increase. By 2020, exports stood at 120.2 K t, down 16.6% from 2019. Overall, from the peak in 2017 to the trough in 2018, exports changed by a factor of 3.4.

Annual dynamics of product's exports from Asia in kind, 2017-2020, K t

An analysis of export volumes from 2017 to 2020 reveals a highly diversified market structure. The top three destinations—Mexico (4.9% of exports), Libya (2.0%), and Madagascar (1.7%)—collectively accounted for only 8.6% of total flows. The remaining 91.4% was distributed among numerous other trading partners.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Asia in kind, 2017-2020

Exports in value, M $ US

Asia's export value of concentrated sweetened milk and cream declined for the third consecutive year. In 2020, exports amounted to 198.5 M $ US, showing a sharp drop of 32.2% compared to 2019. Over the period from 2017 to 2020, export value decreased by 38.4%, equivalent to an average annual decline of 14.9%.

Annual dynamics of product's exports from Asia in value, 2017-2020, M $ US

From 2017 to 2020, concentrated sweetened milk and cream exports from Asia were directed to a wide array of markets. Even the largest destinations—Mexico, the United States, and Libya—together represented just 8.0% of total export value, highlighting the broad distribution across many partners.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Asia in value, 2017-2020

Imports concentrated sweetened milk and cream to Asia

Imports in kind, K t

Asia's imports of concentrated sweetened milk and cream saw a steep decline in 2020, dropping to 175.0 K t, which is 27.6% lower than in 2019. The peak import volume was recorded in 2019 at 241.7 K t, following a 36.6% increase that year. Over the entire period from 2017 to 2020, imports decreased by 27%, with an average annual decline of 10.0%.

Annual dynamics of product's imports to Asia in kind, 2017-2020, K t

The geographical structure of import volumes from 2017 to 2020 was highly diversified. The top three suppliers—the Netherlands (10.8% of imports), Australia (3.9%), and Spain (2.8%)—together accounted for only 17.5% of total flows. The remaining 82.5% was spread across many smaller partner countries.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Asia in kind, 2017-2020

Imports in value, M $ US

Asia's import value of concentrated sweetened milk and cream fell for the second year in a row. In 2020, imports totalled 418.8 M $ US, a sharp decrease of 25.3% from 2019. The highest import value was recorded in 2018 at 598.0 M $ US, following a 7.3% increase that year. Overall, from 2017 to 2020, import value declined by 24.9%, equating to an average annual drop of 9.1%.

Annual dynamics of product's imports to Asia in value, 2017-2020, M $ US

From 2017 to 2020, import values were distributed across a wide range of partner countries. The top three—the Netherlands (18.5% of imports), New Zealand (4.6%), and Spain (4.5%)—jointly accounted for just 27.6% of total flows, with the remainder spread among numerous other markets.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Asia in value, 2017-2020