Milk powder with fat content of ≤1.5% market in Asia

Earlier Report Observations

The market for milk powder with a fat content of ≤1.5% in Asia showed an overall upward trajectory from 2018 to 2023, growing from 1 829 thousand tons to 2 227 thousand tons. This increase of nearly 22% over the period was interrupted by a mild contraction in 2020 and 2021 before a strong recovery took hold.

Market volume peaked at 1 943 thousand tons in 2019, then moderated slightly over the next two years, stabilizing around 1 850 thousand tons. A pronounced expansion followed, with the market surging by 13% to 2 093 thousand tons in 2022 and climbing further to 2 227 thousand tons in 2023, setting a new high for the observed timeframe.

Production milk powder with fat content of ≤1.5% in Asia

In kind, 2017-2020, K t

Top producers of milk powder with fat content of ≤1.5%, 2017-2020

World map of production of milk powder with fat content of ≤1.5%, 2017-2020

Asia's production of milk powder with a fat content of ≤1.5% has grown for the third consecutive year. In 2020, the region produced 548.6 thousand tons, marking a 10.5% increase from 2019. Over the period from 2017 to 2020, production rose by 19.3%, which translates to an average annual growth rate of 6.0%.

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

Exports milk powder with fat content of ≤1.5% from Asia

Exports in kind, K t

After two years of decline, Asia's exports of milk powder with a fat content of ≤1.5% rebounded in 2020, reaching 69 thousand tons—a 7.5% increase from 2019. However, from 2017 to 2020, overall exports fell by 51.1%, averaging an annual decline of 21.2%. The lowest export volume was recorded in 2019 at 64 thousand tons, with the sharpest drop of 36.6% occurring that same year.

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

From 2017 to 2020, the export structure for milk powder with a fat content of ≤1.5% remained highly fragmented. Russia accounted for 5.4% of exports, Somalia for 2.6%, and Algeria for 2.3%, with these three countries together making up just 10.4% of total flows. No single country held a dominant share during this period.

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

Following a two-year downturn, the value of Asia's exports of milk powder with a fat content of ≤1.5% increased in 2020, totaling 247 million US dollars—a 12.8% rise from 2019. Over the 2017-2020 period, however, export value decreased by 33.9%, with a compound annual growth rate of -12.9%. The lowest value was recorded in 2019 at 219 million US dollars, while the largest decline of 34.7% occurred in 2018.

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

Between 2017 and 2020, the country structure of export value remained highly diversified. Russia contributed 4.7% of the total, Somalia 2.6%, and Algeria 2.2%, with these three countries collectively accounting for only 9.5% of flows. The remaining 90.5% was distributed among a long tail of smaller markets.

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

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

Imports milk powder with fat content of ≤1.5% to Asia

Imports in kind, K t

After two years of growth, Asia's imports of milk powder with a fat content of ≤1.5% declined in 2020, reaching 1 395 thousand tons—a 7.6% decrease from 2019. From 2017 to 2020, imports overall increased by 4.1%, averaging an annual growth rate of 1.3%. The peak import volume was recorded in 2019 at 1 511 thousand tons, with the largest increase of 8.6% occurring in 2018.

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

From 2017 to 2020, New Zealand, the United States, and Australia were the primary sources for Asia's imports of milk powder with a fat content of ≤1.5%. New Zealand accounted for 23.7% of imports, the United States for 19.4%, and Australia for 9.6%, together representing 52.7% of total flows.

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 for milk powder with a fat content of ≤1.5% grew for the second consecutive year, reaching 3 975 million US dollars in 2020—a 12.8% increase from 2019. Over the 2017-2020 period, import value rose by 20.6%, with an average annual growth rate of 6.4%. The lowest value was recorded in 2018 at 3 031 million US dollars, which also saw the largest decline of 8.0%. In contrast, the largest increase of 16.3% occurred in 2019.

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

Throughout 2017-2020, New Zealand, the United States, and Australia led in the value of Asia's imports of milk powder with a fat content of ≤1.5%. New Zealand accounted for 24.6% of import value, the United States for 18.6%, and Australia for 10.7%, with these three countries jointly making up 53.9% of total flows.

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

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