U.S. - Butter - Market Analysis, Forecast, Size, Trends and Insights
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View PricingButter Price in the United States - 2023
Contents:
- Butter Price in the United States (CIF) - 2023
- Butter Price in the United States (FOB) - 2023
- Butter Imports in the United States
- Butter Exports in the United States
Butter Price in the United States (CIF) - 2023
The average butter import price stood at $7,802 per ton in September 2023, increasing by 2.1% against the previous month. Overall, the import price, however, saw a perceptible descent. The most prominent rate of growth was recorded in March 2023 an increase of 3.3% against the previous month. The import price peaked at $9,836 per ton in October 2022; however, from November 2022 to September 2023, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In September 2023, the highest price was recorded for prices from France ($9,680 per ton) and New Zealand ($7,832 per ton), while the price for Germany ($7,515 per ton) and Ireland ($7,714 per ton) were amongst the lowest.
From October 2022 to September 2023, the most notable rate of growth in terms of prices was attained by France (+1.2%), while the prices for the other major suppliers experienced a decline.
Butter Price in the United States (FOB) - 2023
In September 2023, the average butter export price amounted to $6,224 per ton, rising by 3.8% against the previous month. Overall, the export price saw a buoyant increase. The most prominent rate of growth was recorded in April 2023 when the average export price increased by 41% month-to-month. The export price peaked in September 2023.
Average prices varied noticeably for the major external markets. In September 2023, the highest price was recorded for prices to Panama ($6,401 per ton) and South Korea ($6,400 per ton), while the average price for exports to Nicaragua ($5,915 per ton) and Honduras ($6,073 per ton) were amongst the lowest.
From October 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.
Butter Imports in the United States
In 2022, the amount of butter imported into the United States totaled 51K tons, growing by 5.2% compared with the year before. The total import volume increased at an average annual rate of +5.1% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, butter imports surged to $419M in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +12.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 25%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.
| Import of Butter in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 218 | 214 | 265 | 326 | 14.4% |
| New Zealand | 23.8 | 18.5 | 33.0 | 51.1 | 29.0% |
| France | 14.4 | 12.8 | 17.7 | 21.7 | 14.6% |
| Australia | 9.1 | 4.6 | 2.4 | 2.2 | -37.7% |
| Others | 26.4 | 17.4 | 17.0 | 18.2 | -11.7% |
| Total | 292 | 267 | 335 | 419 | 12.8% |
Top Suppliers of Butter to the United States in 2022:
- Ireland (37.6K tons)
- New Zealand (7.3K tons)
- France (2.6K tons)
- Australia (0.5K tons)
Butter Exports in the United States
For the fourth year in a row, the United States recorded growth in overseas shipments of butter, which increased by 47% to 65K tons in 2022. Overall, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 106%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, butter exports soared to $241M in 2022. Over the period under review, exports saw significant growth. The growth pace was the most rapid in 2021 when exports increased by 104% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Butter in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 57.2 | 38.5 | 68.4 | 115 | 26.2% |
| Bahrain | 1.5 | 6.7 | 21.5 | 42.8 | 205.6% |
| South Korea | 8.6 | 6.6 | 12.0 | 28.6 | 49.3% |
| Mexico | 7.3 | 6.3 | 8.8 | 10.6 | 13.2% |
| Saudi Arabia | 7.2 | 12.8 | 14.1 | 9.6 | 10.1% |
| Egypt | N/A | 0.1 | 10.7 | 7.6 | 771.8% |
| Taiwan (Chinese) | 3.3 | 3.1 | 3.6 | 4.3 | 9.2% |
| Japan | 5.1 | 1.8 | 1.4 | 1.0 | -41.9% |
| Others | 12.0 | 10.3 | 35.9 | 21.7 | 21.8% |
| Total | 102 | 86.3 | 176 | 241 | 33.2% |
Top Export Markets for Butter from the United States in 2022:
- Canada (32.0K tons)
- Bahrain (9.0K tons)
- South Korea (8.7K tons)
- Mexico (4.3K tons)
- Saudi Arabia (1.9K tons)
- Egypt (1.4K tons)
- Taiwan (Chinese) (1.3K tons)
- Japan (0.4K tons)
This report provides an in-depth analysis of the butter 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 886 - Butter of Cow 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
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This report provides an in-depth analysis of the butter market in the U.S..
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This report provides an in-depth analysis of the butter and ghee market in the U.S..
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This report provides an in-depth analysis of the market for butter and dairy spreads in the U.S..
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This report provides an in-depth analysis of the ghee market in the U.S..
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This report provides an in-depth analysis of the dairy produce market in the U.S..
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This report provides an in-depth analysis of the dairy spread market in the U.S..
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This report provides an in-depth analysis of the global butter market.
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This report provides an in-depth analysis of the global butter and ghee market.
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This report provides an in-depth analysis of the global market for butter and dairy spreads.
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This report provides an in-depth analysis of the global ghee market.
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In July 2022, the butter price per ton amounted to $8,535 per ton, which is down by less than 0.1% against the previous month.
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In May 2022, the butter price per ton amounted to $6,839 per ton, surging by 9.6% against the previous month.
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The average price for Grade AA butter in the U.S. amounted to $2.02 per pound on December 11, 2021, increasing by 40% from the same period last year. Reducing milk cow herd, labour shortage, and the rising packaging materials costs constrain production growth, leading to insufficient supply in the market that results in the butter price surge. Demand for butter typically picks in Q4, when Americans consume more holiday cookies and other traditional dishes. In December, butter prices picked up 3.7% compared to the figures a month earlier.
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In February 2023, the price of butter and ghee per ton (CIF, US) was $7,599, a 15% increase from the previous month.
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In value terms, dairy produce exports surged to $511M in March 2023.
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In terms of value, imports of Dairy Spread decreased to $2M in May 2023.
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This year global butter production is anticipated to keep up with ha last year, amounting to 5.6M tons. The EU is forecast to decrease butter exports due to a slight drop in production amid an increase in demand. Butter exports from New Zealand are not forecast to grow due to increased competition with UHT cream for food service being increasingly in demand.
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The global trade in butter amounted to X million USD in 2015, fluctuating wildly over the period under review. A significant drop in 2009 was followed by a recovery over the next two years, until exports decreased again
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New Zealand continued its dominance in the global butter trade. In 2014, New Zealand exported X thousand tons of butter totaling X million USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its tota
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Global butter and ghee consumption amounted to X thousand tons in 2015, remaining constant against the previous year level.
