Australia and Oceania: Dairy Spread Market 2024

Dairy Spread Market Size in Australia and Oceania

After two years of decline, the dairy spread market in Australia and Oceania increased by 0.7% to $X in 2022. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -16.4% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Dairy Spread Production in Australia and Oceania

In value terms, dairy spread production reduced modestly to $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.1% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by 19% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Dairy Spread Exports

Exports in Australia and Oceania

In 2022, overseas shipments of dairy spreads increased by 62% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of 171% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, dairy spread exports skyrocketed to $X in 2022. In general, exports showed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 175% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

New Zealand was the key exporter of dairy spreads in Australia and Oceania, with the volume of exports recording X tons, which was approx. 73% of total exports in 2022. It was distantly followed by Australia (X tons), committing a 27% share of total exports.

New Zealand was also the fastest-growing in terms of the dairy spreads exports, with a CAGR of +10.9% from 2012 to 2022. At the same time, Australia (+3.7%) displayed positive paces of growth. From 2012 to 2022, the share of New Zealand increased by +15 percentage points.

In value terms, New Zealand ($X) emerged as the largest dairy spread supplier in Australia and Oceania, comprising 75% of total exports. The second position in the ranking was taken by Australia ($X), with a 25% share of total exports.

In New Zealand, dairy spread exports increased at an average annual rate of +17.3% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, rising by 24% against the previous year. Export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy spread export price increased by +26.1% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 41%. Over the period under review, the export prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.8%).

Dairy Spread Imports

Imports in Australia and Oceania

Dairy spread imports soared to X tons in 2022, with an increase of 73% against 2021 figures. Overall, imports, however, continue to indicate a slight decline. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, dairy spread imports skyrocketed to $X in 2022. In general, imports enjoyed a modest increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Australia (X tons) represented the main importer of dairy spreads, committing 64% of total imports. New Caledonia (X tons) ranks second in terms of the total imports with a 10% share, followed by Papua New Guinea (6.4%) and New Zealand (5.3%). French Polynesia (X tons), Samoa (X tons) and Nauru (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to dairy spread imports into Australia stood at +2.0%. At the same time, Papua New Guinea (+7.8%) and New Zealand (+4.8%) displayed positive paces of growth. Moreover, Papua New Guinea emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +7.8% from 2012-2022. By contrast, New Caledonia (-3.4%), French Polynesia (-4.6%), Nauru (-6.9%) and Samoa (-11.9%) illustrated a downward trend over the same period. While the share of Australia (+20 p.p.), Papua New Guinea (+3.8 p.p.) and New Zealand (+2.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of New Caledonia (-2.1 p.p.) and Samoa (-4.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported dairy spreads in Australia and Oceania, comprising 78% of total imports. The second position in the ranking was held by New Caledonia ($X), with a 5.3% share of total imports. It was followed by New Zealand, with a 5.2% share.

In Australia, dairy spread imports increased at an average annual rate of +5.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: New Caledonia (-9.3% per year) and New Zealand (+15.1% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, surging by 8.4% against the previous year. Import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy spread import price increased by +77.4% against 2017 indices. The pace of growth appeared the most rapid in 2020 when the import price increased by 38%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was French Polynesia ($X per ton), while Samoa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+9.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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