EU: Ghee Market 2024

Ghee Market Size in the EU

In 2023, the EU ghee market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption, however, continues to indicate a strong expansion. The level of consumption peaked at $X in 2022, and then reduced notably in the following year.

Ghee Production in the EU

In value terms, ghee production fell to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2022, and then reduced in the following year.

The country with the largest volume of ghee production was the Netherlands (X tons), accounting for X% of total volume. Moreover, ghee production in the Netherlands exceeded the figures recorded by the second-largest producer, Ireland (X tons), threefold. The third position in this ranking was taken by Spain (X tons), with a X% share.

In the Netherlands, ghee production remained relatively stable over the period from 2012-2023. In the other countries, the average annual rates were as follows: Ireland (X% per year) and Spain (X% per year).

Ghee Exports

Exports in the EU

In 2023, after two years of growth, there was decline in overseas shipments of ghee, when their volume decreased by X% to X tons. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. The volume of export peaked at X tons in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, ghee exports declined to $X in 2023. Total exports indicated a noticeable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 with an increase of X%. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

The Netherlands represented the key exporter of ghee in the European Union, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2023. It was distantly followed by Belgium (X tons), Germany (X tons), France (X tons) and Spain (X tons), together achieving a X% share of total exports. Ireland (X tons) followed a long way behind the leaders.

Exports from the Netherlands increased at an average annual rate of X% from 2012 to 2023. At the same time, Spain (X%) and Germany (X%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2023. Belgium experienced a relatively flat trend pattern. By contrast, France (X%) and Ireland (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Netherlands, Germany and Spain increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest ghee supplier in the European Union, comprising X% of total exports. The second position in the ranking was held by Belgium ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in the Netherlands totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Belgium (X% per year) and Germany (X% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2023, which is down by X% against the previous year. Export price indicated perceptible growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ghee export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2022, and then contracted in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Germany ($X per ton) and Belgium ($X per ton), while Ireland ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ireland (X%), while the other leaders experienced more modest paces of growth.

Ghee Imports

Imports in the EU

In 2023, after two years of growth, there was significant decline in overseas purchases of ghee, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2022, and then declined in the following year.

In value terms, ghee imports contracted dramatically to $X in 2023. Overall, imports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2022, and then fell notably in the following year.

Imports by Country

Belgium (X tons), Italy (X tons) and France (X tons) represented roughly X% of total imports in 2023. Germany (X tons) held the next position in the ranking, followed by the Netherlands (X tons). All these countries together took near X% share of total imports. Poland (X tons) and Austria (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Austria (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ghee importing markets in the European Union were Belgium ($X), Italy ($X) and France ($X), with a combined X% share of total imports. Germany, the Netherlands, Poland and Austria lagged somewhat behind, together accounting for a further X%.

Austria, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in the European Union amounted to $X per ton, reducing by X% against the previous year. Import price indicated measured growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ghee import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The level of import peaked at $X per ton in 2022, and then reduced in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Poland ($X per ton) and Austria ($X per ton), while the Netherlands ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform