Italy: Butter Market 2024

Butter Market Size in Italy

The Italian butter market reduced modestly to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Butter consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Butter Production in Italy

In value terms, butter production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Butter production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Butter Exports

Exports from Italy

In 2022, overseas shipments of butter decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, showed temperate growth. The growth pace was the most rapid in 2015 when exports increased by X%. The exports peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, butter exports dropped slightly to $X in 2022. In general, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then declined slightly in the following year.

Exports by Country

Spain (X tons), Belgium (X tons) and Austria (X tons) were the main destinations of butter exports from Italy, together accounting for X% of total exports. Germany, Greece, the Netherlands, South Korea, Poland, France, Romania, Croatia and Denmark lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Germany ($X) and Belgium ($X) were the largest markets for butter exported from Italy worldwide, with a combined X% share of total exports. Greece, Austria, the Netherlands, South Korea, France, Poland, Romania, Croatia and Denmark lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average butter export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were South Korea ($X per ton) and Romania ($X per ton), while the average price for exports to Belgium ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into Italy

In 2022, the amount of butter imported into Italy fell to X tons, waning by X% on 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by X%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, butter imports surged to $X in 2022. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and Germany (X tons) were the main suppliers of butter imports to Italy, with a combined X% share of total imports. France, the Czech Republic, Spain, Poland, Denmark, Lithuania, Croatia and Austria lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Croatia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest butter suppliers to Italy were Belgium ($X), the Netherlands ($X) and Germany ($X), together comprising X% of total imports. France, the Czech Republic, Spain, Poland, Denmark, Austria, Lithuania and Croatia lagged somewhat behind, together comprising a further X%.

Croatia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average butter import price amounted to $X per ton, jumping by X% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter import price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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