Canada: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Canada

The Canadian butter and dairy spreads market surged to $X in 2022, jumping by 49% against the previous year. In general, consumption saw a significant increase. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Production of Butter And Dairy Spreads in Canada

In value terms, butter and dairy spreads production stood at $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with a decrease of 99.9%. Over the period under review, production attained the peak level in 2022 and is likely to continue growth in the near future.

Exports of Butter And Dairy Spreads

Exports from Canada

In 2022, approx. X tons of butter and dairy spreads were exported from Canada; dropping by -76% compared with the year before. Over the period under review, exports faced a significant decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 679%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, butter and dairy spreads exports reduced sharply to $X in 2022. In general, exports showed a dramatic contraction. The most prominent rate of growth was recorded in 2013 with an increase of 569% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Barbados (X tons), Cuba (X tons) and British Virgin Islands (X tons) were the main destinations of butter and dairy spreads exports from Canada, with a combined 55% share of total exports. Saint Pierre and Miquelon, France, Japan and the United States lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +11.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for butter and dairy spreads exported from Canada were Cuba ($X), the United States ($X) and Saint Pierre and Miquelon ($X), with a combined 53% share of total exports. British Virgin Islands, France, Japan and Barbados lagged somewhat behind, together comprising a further 42%.

Among the main countries of destination, France, with a CAGR of +14.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average butter and dairy spreads export price amounted to $X per ton, declining by -54.3% against the previous year. Overall, the export price continues to indicate a abrupt descent. The growth pace was the most rapid in 2021 an increase of 75%. As a result, the export price reached the peak level of $X per ton, and then contracted notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Barbados ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tunisia (+18.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports into Canada

In 2022, the amount of butter and dairy spreads imported into Canada skyrocketed to X tons, increasing by 18% compared with the previous year's figure. Over the period under review, imports showed a buoyant increase. The growth pace was the most rapid in 2014 when imports increased by 68% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, butter and dairy spreads imports skyrocketed to $X in 2022. In general, imports posted a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 98%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of butter and dairy spreads to Canada, with a 71% share of total imports. Moreover, butter and dairy spreads imports from the United States exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +29.5%.

In value terms, the United States ($X) constituted the largest supplier of butter and dairy spreads to Canada, comprising 69% of total imports. The second position in the ranking was held by New Zealand ($X), with a 30% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +35.7%.

Import Prices by Country

The average butter and dairy spreads import price stood at $X per ton in 2022, rising by 37% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the average import price increased by 43%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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