IndexBox, Inc. has just published a new report “World – Butter – Market Analysis, Forecast, Size, Trends and Insights“. Here is a summary of the report’s key findings.
Butter Imports
In 2017, imports of butter worldwide stood at 1.3M tonnes, lowering by -2.1% against the previous year figure. The total import volume increased at an average annual rate of +1.8% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2010, an increase of 15% from the previous year level. Over the period under review, butter imports reached its maximum volume of 1.4M tonnes in 2016, falling back in the following year.
In value terms, butter imports totaled $6.9B in 2017. In general, it indicated a prominent expansion from 2007 to 2017: the total imports value increased at an average annual rate of +1.8% over the last ten years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2017, butter imports increased by +44.6% against its level of 2015. In that year, butter imports reached its maximum level, and are likely to continue its growth in the immediate term.
Butter Imports By Country
The imports of the seven major importers of butter, namely France, the Netherlands, Germany, Belgium, Russia, the UK, and China, represented more than half of total import. The following importers – Italy (31K tonnes), Australia (27K tonnes), Saudi Arabia (26K tonnes), the U.S. (23K tonnes), and the United Arab Emirates (22K tonnes) held near 10% of total imports, each.
From 2007 to 2017, the most notable growth rate of imports, among the main importing countries, was attained by China (+21.1% per year), while the other global leaders experienced more modest paces of growth.
In value terms, the largest butter markets worldwide were France ($962M), the Netherlands ($662M), and Germany ($654M), with a combined 33% share of global imports. Belgium, Russia, the UK, China, Italy, the U.S., Saudi Arabia, the United Arab Emirates and Australia lagged somewhat behind, together comprising a further 35%.
China (+29.3% per year) had the highest growth rate of imports, among the main importing countries, over the last 10 years, while the other global leaders experienced more modest paces of growth.
Butter Import Prices By Country
In 2017, the average import price for butter amounted to $5,188 per tonne, rising by 42% against the previous year. Over the period from 2007 to 2017 it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2017, when import increased by 42% y-o-y. In that year, average import price for butter reached its maximum level, and is likely to continue its growth in the immediate term.
Import prices varied noticeably by country of destination; the country with the highest import price was the U.S. ($7,365 per tonne), while Australia ($3,095 per tonne) was among the lowest.
From 2007 to 2017, the most notable growth rate of import prices was attained by the U.S. (+9.5% per year), while the other global leaders experienced more modest paces of growth.
Description
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 2025.
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