Azerbaijan: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in Azerbaijan

The Azerbaijani buttermilk and buttermilk powder market reduced to $X in 2022, shrinking by -13.5% against the previous year. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Buttermilk And Buttermilk Powder in Azerbaijan

In value terms, buttermilk and buttermilk powder production declined to $X in 2022 estimated in export price. Over the period under review, production recorded a mild setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by 43% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Buttermilk And Buttermilk Powder

Exports from Azerbaijan

In 2022, shipments abroad of buttermilk and buttermilk powder increased by 125% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports posted a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 2,886% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, buttermilk and buttermilk powder exports soared to $X in 2022. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 3,165% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Afghanistan (X tons) and Russia (X tons) were the main destinations of buttermilk and buttermilk powder exports from Azerbaijan.

From 2013 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Afghanistan (with a CAGR of +53.5%).

In value terms, Afghanistan ($X) remains the key foreign market for buttermilk and buttermilk powder exports from Azerbaijan, comprising 81% of total exports. The second position in the ranking was held by Russia ($X), with a 19% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to Afghanistan amounted to +61.0%.

Export Prices by Country

The average buttermilk and buttermilk powder export price stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, the export price, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2018 an increase of 79%. The export price peaked at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Afghanistan ($X per ton), while the average price for exports to Russia totaled $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+8.7%).

Imports of Buttermilk And Buttermilk Powder

Imports into Azerbaijan

After three years of growth, purchases abroad of buttermilk and buttermilk powder decreased by -11.1% to X tons in 2022. Over the period under review, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +3.0% 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 +79.4% against 2018 indices. The pace of growth was the most pronounced in 2019 when imports increased by 34%. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, buttermilk and buttermilk powder imports soared to $X in 2022. Overall, imports, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 42%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of buttermilk and buttermilk powder to Azerbaijan, accounting for a 55% share of total imports. Moreover, buttermilk and buttermilk powder imports from Russia exceeded the figures recorded by the second-largest supplier, Latvia (X tons), twofold. The third position in this ranking was held by Belarus (X tons), with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (-2.5% per year) and Belarus (+22.4% per year).

In value terms, Russia ($X), Latvia ($X) and Belarus ($X) were the largest buttermilk and buttermilk powder suppliers to Azerbaijan, with a combined 97% share of total imports.

In terms of the main suppliers, Belarus, with a CAGR of +27.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average buttermilk and buttermilk powder import price amounted to $X per ton, increasing by 29% against the previous year. In general, the import price saw a strong expansion. The pace of growth was the most pronounced in 2016 an increase of 59%. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+34.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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