China: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in China

The Chinese butter and dairy spreads market soared to $X in 2022, rising by 23% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted resilient growth. Butter and dairy spreads consumption peaked in 2022 and is expected to retain growth in the near future.

Exports of Butter And Dairy Spreads

Exports from China

In 2022, approx. X tons of butter and dairy spreads were exported from China; therefore, remained relatively stable against 2021. In general, exports saw a perceptible downturn. The pace of growth was the most pronounced in 2014 with an increase of 324% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, butter and dairy spreads exports surged to $X in 2022. Over the period under review, exports saw a noticeable decline. The pace of growth was the most pronounced in 2014 when exports increased by 266% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Philippines (X tons) was the main destination for butter and dairy spreads exports from China, with a 52% share of total exports. Moreover, butter and dairy spreads exports to the Philippines exceeded the volume sent to the second major destination, South Korea (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the Philippines totaled +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-24.3% per year) and Singapore (+41.1% per year).

In value terms, the Philippines ($X) remains the key foreign market for butter and dairy spreads exports from China, comprising 62% of total exports. The second position in the ranking was taken by South Korea ($X), with a 2.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the Philippines stood at +18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-18.3% per year) and Singapore (+32.7% per year).

Export Prices by Country

The average butter and dairy spreads export price stood at $X per ton in 2022, jumping by 32% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2016 an increase of 43% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to the Philippines ($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 South Korea (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports into China

Butter and dairy spreads imports into China rose slightly to X tons in 2022, growing by 4.1% compared with the previous year. In general, imports recorded resilient growth. The pace of growth was the most pronounced in 2014 with an increase of 54%. 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. Over the period under review, imports posted a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 57%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of butter and dairy spreads to China, with a 85% share of total imports. Moreover, butter and dairy spreads imports from New Zealand exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold. The third position in this ranking was held by Australia (X tons), with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand amounted to +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+20.1% per year) and Australia (+1.3% per year).

In value terms, New Zealand ($X) constituted the largest supplier of butter and dairy spreads to China, comprising 83% of total imports. The second position in the ranking was held by France ($X), with a 7% share of total imports. It was followed by the Netherlands, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand totaled +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+23.7% per year) and the Netherlands (+35.2% per year).

Import Prices by Country

In 2022, the average butter and dairy spreads import price amounted to $X per ton, increasing by 29% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2022: its price 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, butter and dairy spreads import price increased by +39.9% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 39% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Australia ($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 Netherlands (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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