Asia: Butter And Ghee Market 2024

Butter And Ghee Market Size in Asia

In 2022, the Asian butter and ghee market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Butter And Ghee Production in Asia

In value terms, butter and ghee production totaled $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Butter And Ghee Exports

Exports in Asia

In 2022, approx. X tons of butter and ghee were exported in Asia; increasing by X% compared with 2021. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, butter and ghee exports surged to $X in 2022. Overall, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

India represented the major exporting country with an export of around X tons, which accounted for X% of total exports. Turkey (X tons) ranks second in terms of the total exports with a X% share, followed by Malaysia (X%), Saudi Arabia (X%), the United Arab Emirates (X%) and Kyrgyzstan (X%). Kazakhstan (X tons), Armenia (X tons), Iran (X tons), China (X tons) and Singapore (X tons) took a little share of total exports.

Exports from India increased at an average annual rate of X% from 2012 to 2022. At the same time, Armenia (X%), Turkey (X%), Kazakhstan (X%), Iran (X%), Kyrgyzstan (X%), Saudi Arabia (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, China (X%) and Singapore (X%) illustrated a downward trend over the same period. While the share of India (X p.p.), Turkey (X p.p.), Kazakhstan (X p.p.), Armenia (X p.p.), Kyrgyzstan (X p.p.) and Iran (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.), China (X p.p.), Malaysia (X p.p.), the United Arab Emirates (X p.p.) and Singapore (X p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest butter and ghee supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports. It was followed by Saudi Arabia, with an X% share.

From 2012 to 2022, the average annual growth rate of value in India amounted to X%. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Butter And Ghee Imports

Imports in Asia

In 2022, approx. X tons of butter and ghee were imported in Asia; increasing by X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, butter and ghee imports surged to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% 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 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, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

China represented the largest importer of butter and ghee in Asia, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2022. Saudi Arabia (X tons) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%), South Korea (X%), Indonesia (X%), Bahrain (X%) and the Philippines (X%). Malaysia (X tons), Azerbaijan (X tons), Vietnam (X tons), Singapore (X tons), Thailand (X tons) and Hong Kong SAR (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to butter and ghee imports into China stood at X%. At the same time, South Korea (X%), Bahrain (X%), Indonesia (X%), the United Arab Emirates (X%), Azerbaijan (X%), Malaysia (X%), the Philippines (X%), Thailand (X%) and Hong Kong SAR (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Vietnam experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%) and Singapore (X%) illustrated a downward trend over the same period. China (X p.p.), South Korea (X p.p.), Bahrain (X p.p.), the United Arab Emirates (X p.p.) and Indonesia (X p.p.) significantly strengthened its position in terms of the total imports, while Singapore and Saudi Arabia saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported butter and ghee in Asia, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, jumping by X% against the previous year. Import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and ghee import price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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