World - Butter - Market Analysis, Forecast, Size, Trends and Insights
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The article provides a comprehensive analysis of the global butter market, including consumption trends, production analysis, global imports, and exports from 2012 to 2022. Key highlights include the increase in market value and volume, with projections for continued growth in the future. The article also covers the major countries involved in butter production, consumption, imports, and exports, along with trends in per capita consumption and average prices. Overall, it offers valuable insights into the trends shaping the global butter market.
Market Forecast
Driven by increasing demand for butter worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 6.4M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +3.4% for the period from 2022 to 2030, which is projected to bring the market value to $36.5B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Butter
In 2022, consumption of butter decreased by -1.6% to 5.7M tons, falling for the second year in a row after five years of growth. The total consumption volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, global consumption attained the peak volume at 5.9M tons in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.
The global butter market size reduced modestly to $27.8B in 2022, waning by -2.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Global consumption peaked at $28.8B in 2018; however, from 2019 to 2022, consumption remained at a lower figure.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were the United States (940K tons), France (542K tons) and Germany (509K tons), together accounting for 35% of global consumption. Russia, the UK, New Zealand, China, Iran, Poland, Canada, Brazil, Italy and Turkey lagged somewhat behind, together comprising a further 31%.
From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +11.2%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the largest butter markets worldwide were the United States ($3.7B), France ($3.3B) and Germany ($2.3B), together comprising 33% of the global market. Russia, China, Iran, the UK, New Zealand, Poland, Italy, Canada, Brazil and Turkey lagged somewhat behind, together accounting for a further 29%.
New Zealand, with a CAGR of +13.2%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.
In 2022, the highest levels of butter per capita consumption was registered in New Zealand (38 kg per person), followed by France (8 kg per person), Germany (6.1 kg per person) and Poland (4.9 kg per person), while the world average per capita consumption of butter was estimated at 0.7 kg per person.
From 2012 to 2022, the average annual growth rate of the butter per capita consumption in New Zealand totaled +9.4%. In the other countries, the average annual rates were as follows: France (+1.7% per year) and Germany (+0.6% per year).
Production
World Production of Butter
In 2022, approx. 5.8M tons of butter were produced worldwide; almost unchanged from the previous year's figure. The total output volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 4.1%. Global production peaked at 5.9M tons in 2020; however, from 2021 to 2022, production failed to regain momentum.
In value terms, butter production contracted to $28.1B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 26%. Global production peaked at $29.8B in 2018; however, from 2019 to 2022, production remained at a lower figure.
Production By Country
The countries with the highest volumes of production in 2022 were the United States (954K tons), Germany (479K tons) and New Zealand (453K tons), with a combined 32% share of global production. France, Ireland, Russia, Poland, the UK, Iran, the Netherlands, Turkey, Belarus and Canada lagged somewhat behind, together comprising a further 36%.
From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Ireland (with a CAGR of +6.7%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Butter
Global butter imports reduced to 1.4M tons in 2022, which is down by -10.5% on 2021 figures. The total import volume increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 8.8% against the previous year. Global imports peaked at 1.6M tons in 2021, and then declined in the following year.
In value terms, butter imports surged to $8.9B in 2022. In general, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +34.2% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 39%. Over the period under review, global imports hit record highs in 2022 and are likely to see steady growth in the near future.
Imports By Country
In 2022, France (208K tons), the Netherlands (155K tons), Germany (149K tons), China (101K tons) and Belgium (91K tons) was the major importer of butter in the world, comprising 50% of total import. The following importers - the United States (51K tons), the UK (45K tons), Italy (33K tons), Australia (31K tons), Canada (27K tons), Russia (27K tons) and Spain (24K tons) - together made up 17% of total imports.
From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +19.5%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, the largest butter importing markets worldwide were France ($1.4B), Germany ($905M) and the Netherlands ($846M), with a combined 35% share of global imports. China, Belgium, the United States, the UK, Italy, Australia, Canada, Spain and Russia lagged somewhat behind, together accounting for a further 32%.
Among the main importing countries, the United States, with a CAGR of +27.3%, 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
The average butter import price stood at $6,349 per ton in 2022, picking up by 31% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% 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 +46.6% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 43% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($8,277 per ton), while Russia ($5,141 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.9%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Butter
Global butter exports totaled 1.6M tons in 2022, flattening at 2021. The total export volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 5.5% against the previous year. The global exports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, butter exports soared to $9.9B in 2022. Overall, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 +53.4% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 47%. Over the period under review, the global exports attained the maximum in 2022 and are likely to see gradual growth in years to come.
Exports By Country
In 2022, the Netherlands (258K tons), New Zealand (255K tons) and Ireland (228K tons) represented the key exporter of butter in the world, making up 47% of total export. Germany (119K tons) ranks next in terms of the total exports with a 7.5% share, followed by Belgium (7.5%), Belarus (5.1%), France (5.1%) and Poland (4.6%). The United States (65K tons), Denmark (53K tons), the UK (35K tons) and Finland (30K tons) held a little share of total exports.
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 +9.3%), while the other global leaders experienced more modest paces of growth.
In value terms, the Netherlands ($1.6B), New Zealand ($1.6B) and Ireland ($1.5B) constituted the countries with the highest levels of exports in 2022, with a combined 48% share of global exports. Belgium, Germany, France, Poland, Belarus, Denmark, the United States, the UK and Finland lagged somewhat behind, together comprising a further 42%.
Poland, with a CAGR of +15.7%, saw the highest rates of growth with regard to the value of exports, among 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 $6,266 per ton, growing by 29% against the previous year. Overall, export price indicated a notable increase 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, butter export price increased by +47.9% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 50% against the previous year. Over the period under review, the average export prices reached the peak figure 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 ($7,542 per ton), while the United States ($3,675 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.8%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global butter market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 886 - Butter of Cow Milk
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Company coverage:
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
This report provides an in-depth analysis of the global butter market.
This report provides an in-depth analysis of the global butter and ghee market.
This report provides an in-depth analysis of the global market for butter and dairy spreads.
This report provides an in-depth analysis of the global ghee market.
This report provides an in-depth analysis of the global dairy produce market.
This report provides an in-depth analysis of the global dairy spread market.
Explore the top import markets for butter in the world based on data from IndexBox platform. Learn about the countries importing the most butter and the trends driving global butter trade.
The butter market is projected to experience steady growth over the next seven years, driven by increasing demand worldwide. Market performance is expected to see a CAGR of +1.8% in volume and +3.5% in value from 2023 to 2030.
This year global butter production is anticipated to keep up with ha last year, amounting to 5.6M tons. The EU is forecast to decrease butter exports due to a slight drop in production amid an increase in demand. Butter exports from New Zealand are not forecast to grow due to increased competition with UHT cream for food service being increasingly in demand.
The global trade in butter amounted to X million USD in 2015, fluctuating wildly over the period under review. A significant drop in 2009 was followed by a recovery over the next two years, until exports decreased again
New Zealand continued its dominance in the global butter trade. In 2014, New Zealand exported X thousand tons of butter totaling X million USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its tota
Global butter and ghee consumption amounted to X thousand tons in 2015, remaining constant against the previous year level.
Global butter and ghee exports amounted to X thousand tons in 2015, coming down by -X% against the previous year level.
Global butter and ghee imports amounted to X thousand tons in 2015, descending by -X% against the previous year level.
In 2015, the countries with the highest levels of butter and ghee production were Turkey (X thousand tons), Iran (X thousand tons), Syria (X thousand tons), together accounting for X% of total output.
The global butter and ghee market fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015.