According to market research conducted by IndexBox, the global butter and ghee market fluctuated wildly, finally rising from XXX billion USD in 2007 to XXX billion USD in 2015. Over the last year, the market dropped by XXX% in value terms.
By contast, in physical terms it increased by XXX%, reaching XXX million tonnes in 2015. Over the last eight years, the market showed positive dynamics, reflecting an annual growth rate of +XXX%.
Driven by global population growth and westernization of food culture in countries with growing economies, the butter and ghee sector as a whole is projected to continue an upward consumption trend over the next nine years. The performance of the market is forecast to grow with an anticipated CAGR of +XXX% for the nine-year period from 2015 to XXX, which is expected to lead the market value to XXX billion USD by the end of XXX.
The country with the highest consumption was India (XXX million tonnes), amounting for XXX% of global consumption of butter and ghee. It was followed by the U.S. (XXX%), Pakistan (XXX%) and France (XXX%). These countries together comprising near XXX% of global consumption.
The highest annual growth rates of butter and ghee consumption from 2007 to 2015 were recorded in India, with +XXX% growth and Pakistan, with +XXX% growth. Following significant consumption growth rates, India strengthened its share in terms of the global consumption from XXX% in 2007 to XXX% in 2015.
Among the leading consuming countries high levels of per capita consumption levels were recorded in France (XXX kg/year in 2015), which was significantly higher than the world average of XXX kg/year. In this country per capita consumption stood at relatively stable levels from 2007-2015. The annual growth of per capita consumption from 2007 to 2015 was the most notable in India, with +XXX% growth.
France, Germany, and the UK appeared as major importers of butter and ghee, followed by Russia and China. Among these countries, China indicated the highest imports growth rate, while imports in Russia and France grew at a pace close to the world average. In Germany, imports declined over the period under review, while in the UK imports were relatively stable. In these countries, the shares of imports in consumption stood at the highest levels among the major butter and ghee consuming countries. This indicates that these markets are dependent on foreign imports or supplies, thereby making them the most promising markets for exporters world-wide.
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