U.S.: Ghee Market 2023

Ghee Market Size in the U.S.

After two years of growth, the U.S. ghee market decreased by -69.4% to $X in 2021. Over the period under review, consumption recorded a slight slump. Over the period under review, the market reached the peak level at $X in 2020, and then shrank remarkably in the following year.

Ghee Production in the U.S.

In value terms, ghee production declined sharply to $X in 2021. Over the period under review, production, however, saw buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 133% against the previous year. Ghee production peaked at $X in 2020, and then declined notably in the following year.

Ghee Exports

Exports from the U.S.

In 2021, after two years of decline, there was significant growth in shipments abroad of ghee, when their volume increased by 129% to X tons. In general, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 217% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, ghee exports surged to $X in 2021. Overall, exports posted buoyant growth. The pace of growth was the most pronounced in 2013 with an increase of 306%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons), the Dominican Republic (X tons) and Saudi Arabia (X tons) were the main destinations of ghee exports from the United States, together comprising 51% of total exports. Canada, Mexico, Singapore, Thailand and South Korea lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2021, the biggest increases were in Singapore (with a CAGR of +176.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Saudi Arabia ($X) and the Dominican Republic ($X) were the largest markets for ghee exported from the United States worldwide, together comprising 54% of total exports. These countries were followed by Mexico, Canada, Singapore, Thailand and South Korea, which together accounted for a further 33%.

In terms of the main countries of destination, Singapore, with a CAGR of +198.4%, 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 ghee export price stood at $X per ton in 2021, with an increase of 20% against the previous year. Over the period under review, the export price, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Ghee Imports

Imports into the U.S.

In 2021, overseas purchases of ghee decreased by -48.5% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2019 with an increase of 65%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, ghee imports fell rapidly to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 76% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

New Zealand (X tons), India (X tons) and Mexico (X tons) were the main suppliers of ghee imports to the United States, with a combined 86% share of total imports. These countries were followed by Canada and Chile, which together accounted for a further 9.6%.

From 2012 to 2021, the biggest increases were in Chile (with a CAGR of +54.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ghee suppliers to the United States were New Zealand ($X), Mexico ($X) and India ($X), with a combined 79% share of total imports. These countries were followed by Canada and Chile, which together accounted for a further 14%.

Chile, with a CAGR of +55.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ghee import price stood at $X per ton in 2021, declining by -15.4% against the previous year. Overall, the import price saw a pronounced reduction. The growth pace was the most rapid in 2017 when the average import price increased by 24%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Chile ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+1.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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