Greece: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in Greece

In 2022, the Greek buttermilk and buttermilk powder market increased by 0.8% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, recorded a perceptible decline. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Buttermilk And Buttermilk Powder in Greece

In value terms, buttermilk and buttermilk powder production dropped modestly to $X in 2022 estimated in export price. Overall, production recorded a pronounced decrease. The most prominent rate of growth was recorded in 2013 when the production volume increased by 20% against the previous year. Buttermilk and buttermilk powder production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Buttermilk And Buttermilk Powder

Exports from Greece

Buttermilk and buttermilk powder exports from Greece soared to X tons in 2022, rising by 70% on the year before. In general, exports continue to indicate a mild increase. The growth pace was the most rapid in 2017 when exports increased by 310% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, buttermilk and buttermilk powder exports soared to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 260%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons) was the main destination for buttermilk and buttermilk powder exports from Greece, with a 48% share of total exports. Moreover, buttermilk and buttermilk powder exports to Italy exceeded the volume sent to the second major destination, the UK (X tons), fivefold. Cyprus (X tons) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume to Italy totaled +24.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+66.5% per year) and Cyprus (-16.6% per year).

In value terms, Italy ($X) emerged as the key foreign market for buttermilk and buttermilk powder exports from Greece, comprising 48% of total exports. The second position in the ranking was taken by Cyprus ($X), with a 10% share of total exports. It was followed by France, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to Italy amounted to +27.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (-18.0% per year) and France (+132.7% per year).

Export Prices by Country

In 2022, the average buttermilk and buttermilk powder export price amounted to $X per ton, rising by 23% against the previous year. In general, the export price, however, recorded a slight contraction. The pace of growth appeared the most rapid in 2013 an increase of 41% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Austria ($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 Ireland (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Buttermilk And Buttermilk Powder

Imports into Greece

In 2022, overseas purchases of buttermilk and buttermilk powder increased by 145% to X tons, rising for the third consecutive year after two years of decline. In general, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, buttermilk and buttermilk powder imports soared to $X in 2022. Overall, imports enjoyed a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Bulgaria (X tons), France (X tons) and Germany (X tons) were the main suppliers of buttermilk and buttermilk powder imports to Greece, with a combined 83% share of total imports. Poland, Romania, the Czech Republic, Italy and the Netherlands lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +33.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest buttermilk and buttermilk powder suppliers to Greece were Bulgaria ($X), Germany ($X) and France ($X), with a combined 81% share of total imports. Poland, Italy, Romania, the Czech Republic and the Netherlands lagged somewhat behind, together comprising a further 15%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +38.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average buttermilk and buttermilk powder import price stood at $X per ton in 2022, shrinking by -15.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 29% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Romania ($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 Czech Republic (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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