New Zealand to Benefit from Rising Butter Exports
Vegetable And Animal Oils And Fats June 23, 2017
Photo: © Yastremska / Bigstockphoto
According to market research conducted by IndexBox, the global butter and ghee market fluctuated wildly, finally rising from 31.8 billion USD in 2007 to 39.4 billion USD in 2015. Over the last year, the market dropped by 19% in value terms.
By contrast, in physical terms it increased by 2%, reaching 10.4 million tonnes in 2015. Over the last eight years, the market showed positive dynamics, reflecting an annual growth rate of +1.9%.
The country with the highest consumption was India (3.9 million tonnes), amounting for 38% of global consumption of butter and ghee. It was followed by the U.S. (8%), Pakistan (7%) and France (5%). These countries together comprised near 58% of global consumption.
Among the leading consuming countries high levels of per capita consumption levels were recorded in France (8.3 kg/year in 2015), which was significantly higher than the world average of 1.4 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 +1.9% growth.
In 2015, exports accounted for about 17% of global butter and ghee output, a figure stood relatively stable in the recent years. Tangible foreign supplies to the countries of Western Europe were a key factor for this, as domestic production was insuffisient to meet high domestic demand.
In 2015, the volume of global exports totaled 1.8 million tonnes, with stable positive dynamics throughout the analyzed period, with a CAGR of +2.1%. New Zealand (383 thousand tonnes) was the main global supplier of butter and ghee with a 22% share of global exports. Netherlands held the second place in the ranking with a 16% share, followed by Ireland (11%) and Germany (9%).
The volume of global imports totaled 1.8 million tonnes in 2015. Import dynamics were generally in line with exports, as these trade flows globally complement each other. From 2007 to 2015 global imports of butter and ghee had positive dynamics, with an annual increase of +1.1%. In 2015, France (198 thousand tonnes), Germany (152 thousand tonnes), Belgium (147 thousand tonnes) and Netherlands (140 thousand tonnes) were the main importers of butter and ghee, together making up 37% of total imports in physical terms.
Do you want to know more about the global butter and ghee market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- butter and ghee market share
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- butter and ghee industry
- butter and ghee sales
- butter and ghee market forecast
- butter and ghee price forecast
- key butter and ghee producers
Source: World: Butter And Ghee - Market Report. Analysis And Forecast To 2025
