U.S. - Butter And Ghee - Market Analysis, Forecast, Size, Trends and Insights
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View PricingImport 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
