Canada: Dairy Spread Market 2024

Dairy Spread Market Size in Canada

The Canadian dairy spread market totaled $X in 2022, picking up by 1.9% against the previous year. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2022: its value 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, consumption decreased by -1.8% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Dairy Spread Production in Canada

In value terms, dairy spread production amounted to $X in 2022 estimated in export price. Overall, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 -1.8% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 32% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Dairy Spread Exports

Exports from Canada

In 2022, exports of dairy spreads from Canada shrank markedly to X tons, reducing by -59.9% against 2021. Over the period under review, exports showed a significant decline. The most prominent rate of growth was recorded in 2020 with an increase of 1,154%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, dairy spread exports shrank significantly to $X in 2022. In general, exports continue to indicate a precipitous slump. The pace of growth was the most pronounced in 2020 with an increase of 1,139%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Barbados (X tons), British Virgin Islands (X tons) and Dominica (X kg) were the main destinations of dairy spread exports from Canada, with a combined 93% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Dominica (with a CAGR of +22.1%), while the other leaders experienced more modest paces of growth.

In value terms, British Virgin Islands ($X) emerged as the key foreign market for dairy spreads exports from Canada, comprising 60% of total exports. The second position in the ranking was held by Barbados ($X), with a 29% share of total exports. It was followed by Bermuda, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to British Virgin Islands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Barbados (-0.4% per year) and Bermuda (0.0% per year).

Export Prices by Country

The average dairy spread export price stood at $X per ton in 2022, shrinking by -43.5% against the previous year. Over the period under review, the export price recorded a deep slump. The pace of growth appeared the most rapid in 2014 an increase of 19% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bermuda ($X per ton), while the average price for exports to Barbados ($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 the United States (-0.5%), while the prices for the other major destinations experienced a decline.

Dairy Spread Imports

Imports into Canada

In 2022, approx. X kg of dairy spreads were imported into Canada; declining by -94.7% against 2021 figures. Overall, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2015 when imports increased by 24,693% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, dairy spread imports declined dramatically to $X in 2022. In general, imports, however, saw a resilient increase. The growth pace was the most rapid in 2015 with an increase of 21,378%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United States (X kg) constituted the largest supplier of dairy spread to Canada, with a 85% share of total imports. Moreover, dairy spread imports from the United States exceeded the figures recorded by the second-largest supplier, France (X kg), sixfold.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +63.1%.

In value terms, the United States ($X) constituted the largest supplier of dairy spreads to Canada, comprising 73% of total imports. The second position in the ranking was held by France ($X), with a 27% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +57.4%.

Import Prices by Country

In 2022, the average dairy spread import price amounted to $X per ton, growing by 1.7% against the previous year. Over the period under review, the import price, however, saw a slight decrease. The growth pace was the most rapid in 2019 an increase of 24%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+38.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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