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World - Ghee - Market Analysis, Forecast, Size, Trends and Insights
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The global ghee market is expected to see a steady increase in both consumption and value over the next decade, with India leading as the largest consumer and producer. Market performance is forecasted to grow with a CAGR of +2.3% in volume and +3.9% in value from 2022 to 2030. Countries like Pakistan, New Zealand, and Belgium are also significant players in production and exports. Ghee import prices are on the rise, with a noticeable increase in export prices as well. Overall, the ghee market is anticipated to experience continued growth in the coming years.
Market Forecast
Driven by increasing demand for ghee worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.3% for the period from 2022 to 2030, which is projected to bring the market volume to 5.9M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market value to $41.6B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Ghee
Global ghee consumption stood at 4.9M tons in 2022, almost unchanged from 2021. The total consumption volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, global consumption reached the maximum volume at 4.9M tons in 2020; afterwards, it flattened through to 2022.
The global ghee market revenue totaled $30.5B in 2022, rising by 2.4% 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). Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.2% against 2020 indices. Over the period under review, the global market hit record highs at $30.6B in 2020; however, from 2021 to 2022, consumption remained at a lower figure.
Consumption By Country
India (3.8M tons) remains the largest ghee consuming country worldwide, comprising approx. 78% of total volume. Moreover, ghee consumption in India exceeded the figures recorded by the second-largest consumer, Pakistan (524K tons), sevenfold.
From 2012 to 2022, the average annual rate of growth in terms of volume in India stood at +2.9%.
In value terms, India ($23.7B) led the market, alone. The second position in the ranking was held by Pakistan ($3.6B).
In India, the ghee market increased at an average annual rate of +4.8% over the period from 2012-2022.
The countries with the highest levels of ghee per capita consumption in 2022 were India (2.7 kg per person) and Pakistan (2.3 kg per person).
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Pakistan (with a CAGR of +2.2%).
Production
World Production of Ghee
In 2022, the amount of ghee produced worldwide totaled 4.9M tons, standing approx. at 2021. The total output volume increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 6.3% against the previous year. Global production peaked at 4.9M tons in 2020; afterwards, it flattened through to 2022. The general positive trend in terms output was largely conditioned by pronounced growth of the number of producing animals and a relatively flat trend pattern in yield figures.
In value terms, ghee production expanded to $31.7B in 2022 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 17%. Over the period under review, global production reached the peak level at $32.3B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.
Production By Country
India (3.8M tons) remains the largest ghee producing country worldwide, accounting for 78% of total volume. Moreover, ghee production in India exceeded the figures recorded by the second-largest producer, Pakistan (524K tons), sevenfold. New Zealand (256K tons) ranked third in terms of total production with a 5.2% share.
In India, ghee production expanded at an average annual rate of +3.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+4.3% per year) and New Zealand (+1.5% per year).
Imports
World Imports of Ghee
Global ghee imports amounted to 401K tons in 2022, rising by 4.2% compared with the previous year's figure. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 14% against the previous year. Global imports peaked at 434K tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.
In value terms, ghee imports soared to $2.8B in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +51.2% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Imports By Country
China (41K tons), Belgium (36K tons), Italy (35K tons) and France (32K tons) represented roughly 36% of total imports in 2022. The United States (21K tons) took a 5.3% share (based on physical terms) of total imports, which put it in second place, followed by Germany (4.7%). The following importers - Denmark (17K tons), the Philippines (17K tons), Thailand (11K tons), Malaysia (11K tons), Indonesia (10K tons), the Netherlands (9.5K tons) and Australia (8.2K tons) - together made up 21% of total imports.
From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +24.4%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, Italy ($279M), Belgium ($275M) and China ($268M) appeared to be the countries with the highest levels of imports in 2022, together accounting for 30% of global imports. France, Germany, the Philippines, Denmark, Thailand, Indonesia, Malaysia, the United States, the Netherlands and Australia lagged somewhat behind, together comprising a further 38%.
Among the main importing countries, Denmark, with a CAGR of +31.6%, 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
The average ghee import price stood at $6,905 per ton in 2022, growing by 29% against the previous year. In general, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee import price increased by +43.6% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 53%. Global import price peaked in 2022 and is likely to see steady growth in years to come.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($8,102 per ton), while the United States ($3,341 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+8.8%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Ghee
After three years of decline, overseas shipments of ghee increased by 11% to 436K tons in 2022. Over the period under review, exports saw a relatively flat trend pattern. Over the period under review, the global exports reached the maximum at 464K tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.
In value terms, ghee exports surged to $2.9B in 2022. In general, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +50.4% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
Exports By Country
In 2022, New Zealand (191K tons) was the largest exporter of ghee, generating 44% of total exports. The Netherlands (66K tons) ranks second in terms of the total exports with a 15% share, followed by Germany (5.6%) and Belgium (5.3%). The following exporters - India (18K tons), France (17K tons), the United States (16K tons), the UK (13K tons), Spain (12K tons), Ireland (9.3K tons) and Denmark (9.2K tons) - together made up 22% of total exports.
New Zealand experienced a relatively flat trend pattern with regard to volume of exports of ghee. At the same time, Denmark (+82.9%), the United States (+17.4%), India (+11.8%), Spain (+8.7%), Germany (+4.4%) and the Netherlands (+2.0%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in the world, with a CAGR of +82.9% from 2012-2022. By contrast, Belgium (-1.4%), the UK (-2.2%), France (-3.0%) and Ireland (-9.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States, India, the Netherlands, Denmark, Germany and Spain increased by +2.9, +2.7, +2.4, +2.1, +1.9 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, New Zealand ($1.2B) remains the largest ghee supplier worldwide, comprising 41% of global exports. The second position in the ranking was held by the Netherlands ($530M), with an 18% share of global exports. It was followed by Germany, with a 6.5% share.
From 2012 to 2022, the average annual growth rate of value in New Zealand stood at +5.8%. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+7.7% per year) and Germany (+8.7% per year).
Export Prices By Country
In 2022, the average ghee export price amounted to $6,762 per ton, surging by 25% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee export price increased by +39.8% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 52% 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 the near future.
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 Spain ($8,649 per ton), while the United States ($1,915 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+8.3%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global ghee 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 887 - Ghee from Cow Milk
- FCL 953 - Ghee, from Buffalo 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
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
- COUNTRIES WITH TOP YIELDS
- 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
- PRODUCING ANIMALS AND YIELD 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
- Producing Animals, By Country, 2012-2023
- Yield, 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
- Yield 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
- Producing Animals, 2012–2023
- Yield, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Producing Animals, By Country, 2023
- Producing Animals, By Country, 2012-2023
- Yield, 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
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New Zealand continued its dominance in the global ghee trade. In 2014, New Zealand exported X thousand tons of ghee totaling X million USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total ghee
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.
The market of butter and ghee fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015. Over the last year, the market dropped by X% in value terms.
New Zealand seized control of the butter and ghee market. In 2014, New Zealand exported X thousand tons of butter and ghee totaling X USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total but
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