Latest Report Update: Jun 1, 2023
U.S. - Butter And Ghee - Market Analysis, Forecast, Size, Trends and Insights
Subscription
Online access and download
from $280/month
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
Article Publishing Date: Apr 18, 2023
Import of Butter and Ghee in US Down 18%, Averaging $42M in Feb 2023
U.S. Butter And Ghee Imports
In February 2023, butter and ghee imports into the United States shrank remarkably to 5.6K tons, which is down by -28.7% against January 2023 figures. In general, total imports indicated a pronounced expansion from February 2022 to February 2023: its volume increased at an average monthly rate of +4.3% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2023 figures, imports decreased by -29.2% against December 2022 indices. The pace of growth was the most pronounced in March 2022 when imports increased by 54% m-o-m. Imports peaked at 7.9K tons in July 2022; however, from August 2022 to February 2023, imports failed to regain momentum.
In value terms, butter and ghee imports shrank remarkably to $42M (IndexBox estimates) in February 2023. Over the period under review, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in July 2022 when imports increased by 46% month-to-month. As a result, imports attained the peak of $59M. From August 2022 to February 2023, the growth of imports failed to regain momentum.
| COUNTRY | Feb 2022 | Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Import Value Butter And Ghee in U.S. (million USD) | |||||||||||||
| Mexico | 0.5 | 0.6 | 1.6 | 2.7 | 1.1 | 2.5 | 2.1 | 1.8 | 0.6 | 0.2 | 0.7 | 3.9 | 2.5 |
| India | 0.3 | 0.9 | 2.2 | 1.8 | 1.2 | 1.1 | 0.9 | 1.3 | 1.0 | 0.4 | 0.5 | 1.7 | 0.5 |
| France | 1.5 | 1.5 | 2.1 | 1.4 | 1.9 | 0.9 | 1.4 | 3.1 | 2.5 | 1.8 | 2.5 | 2.0 | 1.2 |
| Germany | 0.1 | 1.6 | 0.6 | 0.1 | N/A | 0.3 | 0.1 | 0.1 | 0.3 | 0.9 | 0.9 | 0.6 | 1.1 |
| Ireland | 11.5 | 18.5 | 15.5 | 24.1 | 26.8 | 46.6 | 31.8 | 32.2 | 43.7 | 36.5 | 32.5 | 25.5 | 29.6 |
| New Zealand | 5.0 | 3.1 | 4.7 | 7.0 | 6.8 | 5.2 | 3.2 | 5.4 | 6.6 | 16.5 | 20.0 | 16.5 | 6.0 |
Imports by Country
In February 2023, Ireland (3.5K tons) constituted the largest butter and ghee supplier to the United States, with a 63% share of total imports. Moreover, butter and ghee imports from Ireland exceeded the figures recorded by the second-largest supplier, New Zealand (914 tons), fourfold. India (337 tons) ranked third in terms of total imports with a 6% share.
From February 2022 to February 2023, the average monthly rate of growth in terms of volume from Ireland totaled +6.4%. The remaining supplying countries recorded the following average monthly rates of imports growth: New Zealand (-1.1% per month) and India (+18.5% per month).
In value terms, Ireland ($30M) constituted the largest supplier of butter and ghee to the United States, comprising 70% of total imports. The second position in the ranking was taken by New Zealand ($6M), with a 14% share of total imports. It was followed by Mexico, with a 5.9% share.
From February 2022 to February 2023, the average monthly rate of growth in terms of value from Ireland amounted to +8.2%. The remaining supplying countries recorded the following average monthly rates of imports growth: New Zealand (+1.5% per month) and Mexico (+14.0% per month).
Imports by Type
In February 2023, butter and dairy spreads (4.7K tons) constituted the largest type of butter and ghee supplied to the United States, with a 84% share of total imports. Moreover, butter and dairy spreads exceeded the figures recorded for the second-largest type, ghee (880 tons), fivefold.
From February 2022 to February 2023, the average monthly rate of growth in terms of the volume of import of butter and dairy spreads stood at +4.8%.
In value terms, butter and dairy spreads ($38M) constituted the largest type of butter and ghee supplied to the United States, comprising 90% of total imports. The second position in the ranking was taken by ghee ($4.1M), with a 9.6% share of total imports.
Import Prices by Country
In February 2023, the butter and ghee price stood at $7,599 per ton (CIF, US), rising by 15% against the previous month. In general, import price indicated a tangible expansion from February 2022 to February 2023: its price increased at an average monthly rate of +2.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2023 figures, butter and ghee import price increased by +14.5% against January 2023 indices. The most prominent rate of growth was recorded in May 2022 when the average import price increased by 42% m-o-m. Over the period under review, average import prices hit record highs at $8,445 per ton in September 2022; however, from October 2022 to February 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In February 2023, the country with the highest price was France ($10,599 per ton), while the price for India ($1,572 per ton) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by France (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the butter and ghee market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
• FCL 983 - Butter and Ghee of Sheep Milk
• FCL 1022 - Butter of Goat Milk
• FCL 952 - Butter of Buffalo Milk
• FCL 886 - Butter of Cow Milk
• FCL 887 - Ghee from Cow Milk
• FCL 953 - Ghee, from Buffalo Milk
Country coverage:
• United States
Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles
Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
MARKET TRENDS
This Chapter is Available Only for the Professional Edition
PRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2012-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2022
Figure 5:
Trade Balance, In Physical Terms, 2012-2022
Figure 6:
Trade Balance, In Value Terms, 2012-2022
Figure 7:
Per Capita Consumption, 2012-2022
Figure 8:
Market Volume Forecast to 2030
Figure 9:
Market Value Forecast to 2030
Figure 10:
Products: Market Size And Growth, By Type
Figure 11:
Products: Average Per Capita Consumption, By Type
Figure 12:
Products: Exports And Growth, By Type
Figure 13:
Products: Export Prices And Growth, By Type
Figure 14:
Production Volume And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2012–2022
Figure 22:
Production, In Value Terms, 2012–2022
Figure 23:
Imports, In Physical Terms, 2012–2022
Figure 24:
Imports, In Value Terms, 2012–2022
Figure 25:
Imports, In Physical Terms, By Country, 2022
Figure 26:
Imports, In Physical Terms, By Country, 2012–2022
Figure 27:
Imports, In Value Terms, By Country, 2012–2022
Figure 28:
Import Prices, By Country Of Origin, 2012–2022
Figure 29:
Exports, In Physical Terms, 2012–2022
Figure 30:
Exports, In Value Terms, 2012–2022
Figure 31:
Exports, In Physical Terms, By Country, 2022
Figure 32:
Exports, In Physical Terms, By Country, 2012–2022
Figure 33:
Exports, In Value Terms, By Country, 2012–2022
Figure 34:
Export Prices, By Country Of Destination, 2012–2022
Webinar: Decarbonisation and Your Business Strategy - Zero Net Carbon Buildings
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, February 22nd, 2022 @ 04:00 pm ET
Webinar: Decarbonisation and Your Business Strategy - Tools and Marketplaces
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, February 8th, 2022 @ 04:00 pm ET
Webinar: Decarbonisation and Your Business Strategy - Steps and Practices
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, January 25th, 2022 @ 04:00 pm ET
•
•
•
