Asia-Pacific’s butter & dairy spreads market to reach US$23.8B by 2035

ASIA ­- According to data by the IndexBox, the butter and dairy spreads market in Asia-Pacific is expected to reach 2.9M tons, with a value of US$23.8 billion, growing at a CAGR of +1.3% in volume and +7.1% in value.

The Asia Pacific dairy market is booming because of growing disposable incomes, urbanisation, and a shift in diet patterns.

More people are being classified as the middle class in China and India, which is accelerating the tendency to adopt Western-style diets with higher contents of dairy products.

The countries with the highest volumes of consumption in 2024 were India (1M tons), Pakistan (679K tons) and China (203K tons), together accounting for 75% of total consumption.

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by China (with a CAGR of +3.9%), while consumption for the other leaders experienced more modest paces of growth.

Butter and dairy spreads consumption, however, dropped modestly to 2.5M tons in 2024, which is down by -1.7% against 2023.

The total consumption volume increased at an average annual rate of +2.1% from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations in certain years

In 2024, approx. 2.6M tons of butter and dairy spreads were produced in Asia-Pacific; almost unchanged from 2023.

The total output volume increased at an average annual rate of +1.6% from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 10% against the previous year.

Butter was also the fastest-growing in terms of imports, with a CAGR of +6.3% from 2013 to 2024. At the same time, dairy spreads (+2.6%) displayed positive rates of growth. The shares of the largest types remained relatively stable throughout the analysed period.

In value terms, butter (US$1.8 billion) constitutes the largest type of butter and dairy spreads imported in Asia-Pacific, comprising 98% of total imports. The second position in the ranking was taken by dairy spreads (US$30 million), with a 1.7% share of total imports.

Butter and dairy spreads exports totalled 321K tons in 2024, picking up by 9.2% on 2023 figures. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by 11% against the previous year.

As a result, the exports attained the peak of 350K tons. From 2015 to 2024, the growth of the exports remained at a somewhat lower figure.

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