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

Earlier Report Observations

The market volume for milk powder with fat content of ≤1.5% grew from 504.9 thousand tons in 2018 to 552.7 thousand tons in 2019, supported by a shift in consumer preferences towards a greater variety of dairy products. In 2020, the market stabilized at 549.4 thousand tons as the COVID-19 pandemic tightened supply and demand for livestock products, accelerating the substitution of other animal products with dairy items.

A significant expansion followed in 2021, with the market reaching 620.7 thousand tons. This surge was driven by continued growth in raw milk production and steadily rising consumer demand. The market then contracted to 520.0 thousand tons in 2022, marking a notable correction from the previous peak.

By 2023, the market volume had declined further to 500.0 thousand tons, while consumption patterns continued to evolve with rising sales of adult milk formula through online channels. In 2024, imports of milk powder fell sharply to 269.3 thousand tons, influenced by rising global milk prices and national policies aimed at promoting domestic dairy consumption and production.

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

In 2020, Eastern Asia produced 153.7 K t of milk powder with a fat content of ≤1.5%, marking a 15.2% year-over-year increase. From 2017 to 2020, production grew by 15.7%, which translates to an annualized rate of 5.0%. The most significant drop occurred in 2019, with an 8.3% decline.

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

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

Exports in kind, K t

Exports of milk powder with a fat content of ≤1.5% from Eastern Asia fell for the second year in a row. In 2020, exports reached 2.5 K t, down 29.2% from 2019. Between 2017 and 2020, exports decreased by 35.7%, averaging an annual decline of 13.7%. The peak was in 2018 at 4.7 K t, with the largest increase that year of 19.5%.

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

From 2017 to 2020, the export distribution by country was quite varied. Malaysia accounted for 7.4% of exports in kind, the Philippines for 4.8%, and Singapore for 4.7%, together making up just 16.9% of total flows. No single partner emerged as clearly dominant during this period.

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

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

Exports in value, M $ US

Following two years of growth, the export value of milk powder with a fat content of ≤1.5% from Eastern Asia declined. In 2020, export value stood at 7 M $ US, a sharp 31.9% decrease year-over-year. From 2017 to 2020, exports fell by 24.9%, with an annualized rate of 9.1%. The highest value was recorded in 2019 at 11 M $ US, while the largest increase occurred in 2018 at 8.8%.

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

The export structure in value terms from 2017 to 2020 shows a diverse range of partners. Malaysia contributed 3.9% of exports in value, Vietnam 3.1%, and Singapore 2.8%, together accounting for only 9.8% of total flows. The remaining 90.2% was spread across numerous smaller markets.

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

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

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

Imports in kind, K t

After two years of growth, imports of milk powder with a fat content of ≤1.5% into Eastern Asia declined. In 2020, imports totaled 398.2 K t, reflecting a modest 5.8% drop year-over-year. Over the 2017-2020 period, imports increased by 18.3%, with a compound annual growth rate of 5.8%. The peak was in 2019 at 422.8 K t, which also saw the largest increase of 16.1%.

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

From 2017 to 2020, New Zealand was the top contributor to imports in kind with 38.4%, followed by Australia at 14.1% and the United States at 9.5%. Together, these three countries accounted for 62.0% of total import flows.

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

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

Imports in value, M $ US

Imports of milk powder with a fat content of ≤1.5% into Eastern Asia rose for the second consecutive year. In 2020, import value reached 1 166 M $ US, up 9.7% from the previous year. Between 2017 and 2020, imports grew by 43.6%, with a compound annual growth rate of 12.8%. The lowest value was in 2018 at 781 M $ US, which also experienced the largest decline of 3.8%. The biggest increase occurred in 2019 at 36.1%.

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

From 2017 to 2020, New Zealand led imports in value terms with 37.5%, Australia followed with 17.5%, and the United States with 8.4%. These three countries together made up 63.4% of total import flows, consistently holding the top positions in the country structure.

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

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