Global Butter And Ghee Market 2023

Butter And Ghee Market Size

The global butter and ghee market reduced to $X in 2021, shrinking by -4.3% against the previous year. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market attained the maximum level at $X in 2020, and then contracted modestly in the following year.

Butter And Ghee Production

In value terms, butter and ghee production reduced modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 22% against the previous year. Over the period under review, global production reached the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Butter And Ghee Exports

Exports

In 2021, the amount of butter and ghee exported worldwide skyrocketed to X tons, picking up by 16% compared with the previous year's figure. The total export volume increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, butter and ghee exports soared to $X in 2021. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when exports increased by 42%. Over the period under review, the global exports hit record highs in 2021 and are likely to see gradual growth in the near future.

Exports by Country

In 2021, New Zealand (X tons), distantly followed by the Netherlands (X tons), Ireland (X tons), Belgium (X tons) and Germany (X tons) were the largest exporters of butter and ghee, together mixing up 71% of total exports. France (X tons), Belarus (X tons), the United States (X tons), Denmark (X tons), the UK (X tons) and Poland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ireland (with a CAGR of +6.4%), while the other global leaders experienced more modest paces of growth.

In value terms, New Zealand ($X) remains the largest butter and ghee supplier worldwide, comprising 30% of global exports. The second position in the ranking was held by the Netherlands ($X), with a 14% share of global exports. It was followed by Ireland, with an 11% share.

In New Zealand, butter and ghee exports increased at an average annual rate of +8.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+6.4% per year) and Ireland (+8.8% per year).

Export Prices by Country

The average butter and ghee export price stood at $X per ton in 2021, with an increase of 14% against the previous year. In general, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 an increase of 49% against the previous year. The global export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was France ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+5.0%), while the other global leaders experienced more modest paces of growth.

Butter And Ghee Imports

Imports

In 2021, global imports of butter and ghee expanded slightly to X tons, with an increase of 2.9% on the previous year's figure. The total import volume increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 7.8%. Over the period under review, global imports reached the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, butter and ghee imports rose remarkably to $X in 2021. Over the period under review, total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 36%. Global imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), Germany (X tons), the Netherlands (X tons), Belgium (X tons), China (X tons) and Russia (X tons) represented roughly 49% of total imports in 2021. Italy (X tons), the United States (X tons), the UK (X tons), Saudi Arabia (X tons), Australia (X tons) and Poland (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were in the United States (with a CAGR of +14.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 27% share of global imports. These countries were followed by Belgium, China, Russia, the United States, Italy, the UK, Saudi Arabia, Australia and Poland, which together accounted for a further 36%.

Among the main importing countries, the United States, with a CAGR of +19.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average butter and ghee import price amounted to $X per ton, growing by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2017 an increase of 44%. Global import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the United States ($X per ton) and Italy ($X per ton), while the Netherlands ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+5.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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