Eastern Asia: Butter And Ghee Market 2024

Butter And Ghee Market Size in Eastern Asia

The East Asian butter and ghee market soared to $X in 2022, surging by X% against the previous year. In general, consumption continues to indicate buoyant growth. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Butter And Ghee Production in Eastern Asia

In value terms, butter and ghee production totaled $X in 2022 estimated in export price. Over the period under review, production showed a slight expansion. The pace of growth was the most pronounced in 2017 with an increase of X,975%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Butter And Ghee Exports

Exports in Eastern Asia

In 2022, approx. X tons of butter and ghee were exported in Eastern Asia; growing by X% against the previous year. In general, exports, however, showed a mild slump. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, butter and ghee exports totaled $X in 2022. Total exports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, China (X tons) was the key exporter of butter and ghee, committing X% of total exports. It was distantly followed by Hong Kong SAR (X tons), generating a X% share of total exports.

Exports from China decreased at an average annual rate of X% from 2012 to 2022. Hong Kong SAR (X%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) and Hong Kong SAR ($X) constituted the countries with the highest levels of exports in 2022.

Among the main exporting countries, Hong Kong SAR, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%).

Butter And Ghee Imports

Imports in Eastern Asia

After two years of growth, supplies from abroad of butter and ghee decreased by X% to X tons in 2022. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2013 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. The volume of import peaked at X tons in 2021, and then fell modestly in the following year.

In value terms, butter and ghee imports skyrocketed to $X in 2022. Over the period under review, imports, however, posted resilient growth. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

China represented the key importing country with an import of about X tons, which finished at X% of total imports. South Korea (X tons) ranks second in terms of the total imports with a X% share, followed by Hong Kong SAR (X%) and Japan (X%).

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, South Korea (X%) and Hong Kong SAR (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. Japan experienced a relatively flat trend pattern. From 2012 to 2022, the share of China and South Korea increased by X and X percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported butter and ghee in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and ghee import price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the import price increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per ton) and South Korea ($X per ton), while Hong Kong SAR ($X per ton) and China ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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