Global Butter Market 2024

Butter Market Size

The global butter market amounted to $X in 2022, remaining relatively unchanged against 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 observed in certain years. Over the period under review, the global market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Butter Production

In value terms, butter production dropped slightly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, global production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Butter Exports

Exports

Global butter exports amounted to X tons in 2022, flattening at the previous year's figure. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of X%. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, butter exports surged to $X in 2022. Over the period under review, total exports indicated resilient 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the global exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The Netherlands (X tons), New Zealand (X tons) and Ireland (X tons) represented roughly X% of total exports in 2022. Germany (X tons) ranks next in terms of the total exports with a X% share, followed by Belgium (X%), France (X%), Poland (X%) and Belarus (X%). The United States (X tons), Denmark (X tons), the UK (X tons) and Finland (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Poland (with a CAGR of X%), while the other global leaders experienced more modest paces of growth.

In value terms, Ireland ($X), the Netherlands ($X) and New Zealand ($X) were the countries with the highest levels of exports in 2022, together comprising X% of global exports. Belgium, Germany, France, Poland, Belarus, Denmark, the United States, the UK and Finland lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

In 2022, the average butter export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, export price indicated a buoyant 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. The global export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, 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 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the other global leaders experienced more modest paces of growth.

Butter Imports

Imports

In 2022, overseas purchases of butter decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Global imports peaked at X tons in 2021, and then fell modestly in the following year.

In value terms, butter imports skyrocketed to $X in 2022. In general, total imports indicated a prominent expansion 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%. Global imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

The purchases of the six major importers of butter, namely France, the Netherlands, Germany, China, Belgium and Russia, represented more than half of total import. The United States (X tons), the UK (X tons), Saudi Arabia (X tons), Italy (X tons), Australia (X tons), Spain (X tons) and Canada (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the United States (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest butter importing markets worldwide were France ($X), Germany ($X) and the Netherlands ($X), with a combined X% share of global imports. China, Belgium, Russia, the United States, the UK, Italy, Australia, Saudi Arabia, Canada and Spain lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

In 2022, the average butter import price amounted to $X per ton, with an increase of X% against the previous year. In general, import price indicated a perceptible expansion 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 pace of growth was the most pronounced in 2017 an increase of X%. Over the period under review, average import prices hit record highs 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 the United States ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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