Global Butter And Ghee Market 2024

Butter And Ghee Market Size

The global butter and ghee market reached $X in 2023, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market attained the maximum level in 2023 and is likely to continue growth in years to come.

Butter And Ghee Production

In value terms, butter and ghee production expanded modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, global production hit record highs in 2023 and is likely to see steady growth in the immediate term.

Butter And Ghee Exports

Exports

For the third consecutive year, the global market recorded growth in overseas shipments of butter and ghee, which increased by X% to X tons in 2023. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the global exports hit record highs in 2023 and are likely to see gradual growth in the immediate term.

In value terms, butter and ghee exports declined to $X in 2023. Overall, total exports indicated a buoyant expansion from 2012 to 2023: its value 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the global exports hit record highs at $X in 2022, and then dropped in the following year.

Exports by Country

The shipments of the three major exporters of butter and ghee, namely New Zealand, the Netherlands and Ireland, represented more than half of total export. Belgium (X tons) took the next position in the ranking, followed by Germany (X tons) and France (X tons). All these countries together held approx. X% share of total exports. Belarus (X tons), Poland (X tons), Denmark (X tons), the UK (X tons), the United States (X tons) and Finland (X tons) held a minor share of total exports.

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

In value terms, the largest butter and ghee supplying countries worldwide were New Zealand ($X), the Netherlands ($X) and Ireland ($X), together comprising X% of global exports. Belgium, Germany, France, Denmark, Belarus, Poland, the UK, Finland and the United States lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

In 2023, the average butter and ghee export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, export price indicated moderate 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, butter and ghee export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of X%. The global export price peaked at $X per ton in 2022, and then fell in the following year.

Prices varied noticeably by country of origin: 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 2023, 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 And Ghee Imports

Imports

Global butter and ghee imports expanded to X tons in 2023, with an increase of X% on the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2018 with an increase of X%. Global imports peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, butter and ghee imports fell to $X in 2023. Over the period under review, total imports indicated a strong 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, global imports hit record highs at $X in 2022, and then reduced in the following year.

Imports by Country

France (X tons), the Netherlands (X tons), Germany (X tons), China (X tons) and Belgium (X tons) represented roughly X% of total imports in 2023. The following importers - the United States (X tons), Russia (X tons), Italy (X tons), the UK (X tons), Australia (X tons), Canada (X tons), Spain (X tons) and South Korea (X tons) - together made up X% of total imports.

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

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

Among the main importing countries, Canada, with a CAGR of X%, recorded the highest growth rate of 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 and ghee import price stood at $X per ton in 2023, falling by X% against the previous year. In general, import price indicated a notable increase 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, butter and ghee import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Global import price peaked at $X per ton in 2022, and then dropped in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in the United States ($X per ton) and China ($X per ton), while the Netherlands ($X per ton) and Russia ($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 global leaders experienced more modest paces of growth.

Source: IndexBox Platform