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World - Butter - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

World - Butter - Market Analysis, Forecast, Size, Trends and Insights

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Jul 30, 2021

Global Butter Market to Keep Robust This Year, with Rising U.S. Supplies to Offset Subdued EU and New Zealand’s Exports

IndexBox 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.

This year global butter production is anticipated to keep up with the 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 U.S. should strengthen its positions on the global market thanks to lucrative prices and penetration to new markets in the Middle East. France, the Netherlands, Germany and Russia will remain the world's largest importers of butter. The EU countries may see some increase in imports if the production shortage will last the whole year. Imports to Russia are expected to decrease due to tight competition with local producers backed up with weak local currency. Solid growth in demand from China makes the country an increasingly attractive destination for exporters.

Key Trends and Insights

Based on USDA statistics, IndexBox estimates that this year global butter production will remain relatively stable, amounting to 5.7M tons. This will be largely shaped by the lack of growth in the EU's output, which is projected to fall by -0.8% to 2M tons. According to the European Commission, from January through May 2021, butter shipments from the EU fell by 20% compared to the same period in 2020. This is likely to be due to the decrease in production and growth in domestic consumption, which together prevent the product expansion to foreign markets. Should this trend be extrapolated over the whole year, it will lead to a drop in total butter exports from the EU countries by 19% to approx. 800K tons in 2021.

Butter exports from New Zealand will maintain their levels of 2020 in tandem with stable production. Butter prices started to grow robustly in late 2020 and continued through the first quarter 2021, which could shape the potential for increasing butter production. Despite this, the growing production and export of UHT cream for food service production hamper the expansion of butter output in the country.

The U.S. expects an increase in butter exports thanks to competitive prices (nearly $3,750 per ton), which this year were lower than the global average ($4,400 per ton). In the first quarter of 2021, the U.S. tripled export deliveries compared with the same period in the previous year. Forecasts show that the US will maintain its price advantage until the end of the year, causing butter exports in 2021 to be twice as large as in 2020 (near 50K tons against 21.6K tons). American butter is expected to be sent to traditional destinations like Canada and expand to Egypt, Saudi Arabia, and Bahrain.

France, the Netherlands, Germany and Russia are the largest importers of butter in the world. According to the USDA, as of year-end 2021, butter imports to EU countries may increase somewhat due to lower production, while shipments to Russia will decline by -11% to approx. 90K tons due to rising competitiveness of the local industry and measures taken towards improved labelling of milk products.

China emerges as the world's major butter market, posting tangible growth in imports over the last two years. As of year-end 2021, butter imports to China are expected to surpass the previous year's figures by 22% and overcome 100K tons, making the country an increasingly important market for suppliers from abroad.

Global Butter Exports

For the third year in a row, the global market recorded growth in shipments abroad of butter, which increased by 0.2% to 1.5M tons in 2020. The total export volume increased at an average annual rate of +3.1% from 2012 to 2020; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Global exports peaked in 2020 and are likely to continue growing in the near future. In value terms, butter exports dropped to $6.4B (IndexBox estimates) in 2020.

Exports by Country

Ireland (289K tons), the Netherlands (258K tons) and New Zealand (233K tons) represented roughly 52% of total exports of butter in 2020. It was distantly followed by Germany (131K tons), Belgium (108K tons), France (72K tons) and Belarus (70K tons), together mixing up a 26% share of total exports. Poland (55K tons), Denmark (50K tons), the UK (41K tons) and Finland (31K tons) followed a long way behind the leaders.

From 2012 to 2020, the most notable growth rate in terms of shipments, amongst the main exporting countries, was attained by the UK, while exports for the other global leaders experienced more modest paces of growth.

In value terms, Ireland ($1.1B), the Netherlands ($1.1B) and New Zealand ($1B) constituted the countries with the highest levels of exports in 2020, together accounting for 49% of global exports. These countries were followed by Germany, Belgium, France, Belarus, Denmark, Poland, Finland and the UK, which together accounted for a further 41%.

In terms of the main exporting countries, the UK recorded the highest rates of growth with regard to the value of exports over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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:

+ 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:

Dairy Farmers of America, Inc., Tatura Milk Industries Limited, Westland Milk Products, Adams Foods Limited, Arla Foods, Fonterra, Glanbia, First Milk Ltd

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 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. 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

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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