Milk and cream market in South-eastern Asia

Earlier Report Observations

The market volume for milk and cream in South-eastern Asia expanded from 7 499 thousand tons in 2018 to 7 835 thousand tons in 2019, representing a growth of approximately 4.5%. However, this upward trend was sharply reversed in 2020, when the market contracted by 10% to 7 053 thousand tons.

Following the 2020 decline, the market entered a phase of stabilization, with volume remaining nearly unchanged at 7 048 thousand tons in 2021. A modest recovery began in 2022, as the market grew to 7 139 thousand tons, and it essentially plateaued at 7 142 thousand tons in 2023.

Production milk and cream in South-eastern Asia

In kind, 2017-2020, K t

Top producers of milk and cream, 2017-2020

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

In 2020, South-eastern Asia produced 6 828 K t of milk and cream, marking an 8.6% decrease from the previous year. Looking at the period from 2017 to 2020, production fell by 10.8%, which translates to an annualized decline of 3.7%. The most significant increase occurred in 2019, with a rise of 3.0%.

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

Exports milk and cream from South-eastern Asia

Exports in kind, K t

The data shows irregular fluctuations, pointing to a volatile market environment. In 2019, exports hit their lowest point at 3.1 K t, while 2020 saw a peak of 171.1 K t, representing a dramatic 5 341.5% increase from the previous year. This resulted in a 54-fold difference between the two years. The largest decline was recorded in 2018, at 80.2%.

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

From 2017 to 2020, the main buyers of milk and cream from South-eastern Asia were Hong Kong, accounting for 8.1% of exports in kind, Australia at 0.9%, and Papua New Guinea at 0.6%. Together, these three markets made up 9.6% of total exports in kind.

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

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

Exports in value, M $ US

The market displayed an unstable trend over the observed period. In 2019, exports reached their minimum at 25.1 M $ US, while 2020 saw a peak of 152.4 M $ US, reflecting a sharp rise of 508.3% from the previous year. This created a 6.1-fold difference between these years. The largest decline occurred in 2019, at 61.8%.

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

Between 2017 and 2020, the primary buyers in value terms were Hong Kong, with 6.9% of exports, Australia at 1.4%, and Papua New Guinea at 0.6%. Collectively, these three accounted for 8.8% of total export value.

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

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

Imports milk and cream to South-eastern Asia

Imports in kind, K t

Milk and cream imports into South-eastern Asia increased for the second year in a row. In 2020, imports totaled 396.2 K t, showing a moderate 8.6% year-over-year growth. Over the 2017-2020 period, imports rose by 40.8%, with a compound annual growth rate of 12.1%. The lowest point was in 2018 at 258.5 K t, which also saw the largest decline of 8.2%. The most significant increase happened in 2019, with a jump of 41.1%.

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

From 2017 to 2020, the key sources for imports in kind were Australia, contributing 32.9%, New Zealand at 19.0%, and Germany at 8.9%. Together, these three countries represented 60.9% of total import volumes.

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

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

Imports in value, M $ US

Milk and cream deliveries to South-eastern Asia grew for the third consecutive year. In 2020, imports amounted to 381.8 M $ US, indicating a moderate 8.3% increase compared to the previous year. Between 2017 and 2020, imports expanded by 28.9%, equivalent to an annualized rate of 8.8%.

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

Throughout 2017-2020, the core markets for imports in value terms were Australia, with 25.6%, New Zealand at 23.1%, and France at 8.1%. Combined, these three accounted for 56.9% of total import value.

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

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