Europe: Dairy Spread Market 2024

Dairy Spread Market Size in Europe

In 2022, the Europe dairy spread market increased by 8.2% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in years to come.

Dairy Spread Production in Europe

In value terms, dairy spread production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2017 with an increase of 25% against the previous year. Over the period under review, production attained the peak level in 2022 and is expected to retain growth in the near future.

Dairy Spread Exports

Exports in Europe

In 2022, dairy spread exports in Europe rose to X tons, picking up by 1.8% on 2021 figures. Over the period under review, exports, however, showed a abrupt contraction. The growth pace was the most rapid in 2020 with an increase of 5.8%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, dairy spread exports expanded notably to $X in 2022. Overall, exports, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2017 with an increase of 22% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Belarus represented the major exporter of dairy spreads in Europe, with the volume of exports recording X tons, which was approx. 33% of total exports in 2022. Belgium (X tons) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by Germany (8.8%), France (7.5%), Ireland (5.6%) and Greece (5.1%). Russia (X tons), Ukraine (X tons), the Netherlands (X tons), Serbia (X tons) and the UK (X tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +68.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belarus ($X), Belgium ($X) and Germany ($X) constituted the countries with the highest levels of exports in 2022, with a combined 63% share of total exports. France, Ireland, the Netherlands, Greece, Ukraine, the UK, Serbia and Russia lagged somewhat behind, together accounting for a further 31%.

Greece, with a CAGR of +69.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, surging by 10% against the previous year. Export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy spread export price increased by +23.7% against 2020 indices. The growth pace was the most rapid in 2017 when the export price increased by 27%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while Russia ($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 UK (+11.0%), while the other leaders experienced more modest paces of growth.

Dairy Spread Imports

Imports in Europe

In 2022, supplies from abroad of dairy spreads was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, showed a drastic downturn. The growth pace was the most rapid in 2019 when imports increased by 6.9%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, dairy spread imports expanded markedly to $X in 2022. In general, imports, however, saw a pronounced downturn. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Russia (X tons), distantly followed by Spain (X tons), Portugal (X tons), Slovakia (X tons), Bulgaria (X tons), the Czech Republic (X tons), Romania (X tons), the UK (X tons) and France (X tons) represented the major importers of dairy spreads, together achieving 71% of total imports. Germany (X tons), the Netherlands (X tons), Moldova (X tons) and Belgium (X tons) held a minor share of total imports.

Russia experienced a relatively flat trend pattern with regard to volume of imports of dairy spreads. At the same time, Moldova (+69.0%), Spain (+26.0%), Bulgaria (+22.7%), Slovakia (+7.1%), Romania (+3.2%) and the Czech Republic (+1.4%) displayed positive paces of growth. Moreover, Moldova emerged as the fastest-growing importer imported in Europe, with a CAGR of +69.0% from 2012-2022. The Netherlands experienced a relatively flat trend pattern. By contrast, Portugal (-4.8%), Germany (-6.3%), Belgium (-6.5%), France (-10.3%) and the UK (-24.9%) illustrated a downward trend over the same period. While the share of Russia (+12 p.p.), Spain (+8.8 p.p.), Bulgaria (+5.6 p.p.), Slovakia (+4.4 p.p.), the Czech Republic (+3.1 p.p.), Romania (+3.1 p.p.), Moldova (+2.8 p.p.) and the Netherlands (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of France (-2.6 p.p.) and the UK (-39.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported dairy spreads in Europe, comprising 21% of total imports. The second position in the ranking was held by Spain ($X), with a 10% share of total imports. It was followed by Slovakia, with a 7.6% share.

In Russia, dairy spread imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Spain (+30.0% per year) and Slovakia (+16.5% per year).

Import Prices by Country

The import price in Europe stood at $X per ton in 2022, with an increase of 7% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The pace of growth appeared the most rapid in 2021 when the import price increased by 19%. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Slovakia ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+8.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform