Australia and Oceania: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Australia and Oceania

The butter and dairy spreads market in Australia and Oceania fell modestly to $X in 2022, leveling off at the previous year. Over the period under review, consumption saw a prominent increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Butter And Dairy Spreads in Australia and Oceania

In value terms, butter and dairy spreads production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 33% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

New Zealand (X tons) remains the largest butter and dairy spreads producing country in Australia and Oceania, accounting for 92% of total volume. Moreover, butter and dairy spreads production in New Zealand exceeded the figures recorded by the second-largest producer, Australia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in New Zealand totaled +5.4%.

Exports of Butter And Dairy Spreads

Exports in Australia and Oceania

In 2022, butter and dairy spreads exports in Australia and Oceania soared to X tons, picking up by 64% on 2021 figures. Total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.1% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, butter and dairy spreads exports surged to $X in 2022. In general, exports recorded a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

New Zealand prevails in exports structure, recording X tons, which was approx. 97% of total exports in 2022. Australia (X tons) held a relatively small share of total exports.

New Zealand was also the fastest-growing in terms of the butter and dairy spreads exports, with a CAGR of +3.9% from 2012 to 2022. Australia (-12.1%) illustrated a downward trend over the same period. While the share of New Zealand (+11 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Australia (-10.7 p.p.) displayed negative dynamics.

In value terms, New Zealand ($X) remains the largest butter and dairy spreads supplier in Australia and Oceania, comprising 97% of total exports. The second position in the ranking was taken by Australia ($X), with a 2.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in New Zealand totaled +10.0%.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, rising by 17% against the previous year. Export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads export price increased by +36.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by 61%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.8%).

Imports of Butter And Dairy Spreads

Imports in Australia and Oceania

In 2022, the amount of butter and dairy spreads imported in Australia and Oceania rose rapidly to X tons, with an increase of 14% compared with 2021. Total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -4.1% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 30% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, butter and dairy spreads imports soared to $X in 2022. In general, imports posted buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 63%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Australia dominates imports structure, recording X tons, which was approx. 83% of total imports in 2022. It was distantly followed by French Polynesia (X tons), constituting a 4.5% share of total imports. Fiji (X tons) and New Caledonia (X tons) followed a long way behind the leaders.

Australia was also the fastest-growing in terms of the butter and dairy spreads imports, with a CAGR of +3.6% from 2012 to 2022. At the same time, French Polynesia (+3.4%) and New Caledonia (+2.6%) displayed positive paces of growth. Fiji experienced a relatively flat trend pattern. From 2012 to 2022, the share of Australia increased by +4.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported butter and dairy spreads in Australia and Oceania, comprising 82% of total imports. The second position in the ranking was taken by French Polynesia ($X), with a 4.9% share of total imports. It was followed by Fiji, with a 4.4% share.

In Australia, butter and dairy spreads imports expanded at an average annual rate of +10.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: French Polynesia (+2.1% per year) and Fiji (+5.8% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, rising by 22% against the previous year. Import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads import price increased by +27.5% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 44% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in French Polynesia ($X per ton) and Fiji ($X per ton), while New Caledonia ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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