India: Cream Fresh Market 2024

Cream Fresh Market Size in India

In 2022, the Indian cream fresh market increased by 5.1% to $X, rising for the fourth year in a row after two years of decline. Overall, consumption, however, continues to indicate buoyant growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Cream Fresh Production in India

In value terms, cream fresh production surged to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 122% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Cream Fresh Exports

Exports from India

Cream fresh exports from India declined rapidly to X tons in 2022, falling by -32% against 2021. In general, exports, however, saw significant growth. The growth pace was the most rapid in 2018 when exports increased by 378%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cream fresh exports shrank notably to $X in 2022. Over the period under review, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of 254% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Bhutan (X tons) was the main destination for cream fresh exports from India, accounting for a 63% share of total exports. Moreover, cream fresh exports to Bhutan exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fourfold. The third position in this ranking was taken by Singapore (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bhutan totaled +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-0.1% per year) and Singapore (+13.4% per year).

In value terms, the largest markets for cream fresh exported from India were the United Arab Emirates ($X), Bhutan ($X) and Singapore ($X), together accounting for 90% of total exports. Maldives and Nepal lagged somewhat behind, together accounting for a further 9.4%.

Maldives, with a CAGR of +109.8%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cream fresh export price amounted to $X per ton, falling by -19% against the previous year. Over the period under review, the export price saw a abrupt contraction. The most prominent rate of growth was recorded in 2020 an increase of 105%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Bhutan ($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 Bhutan (+6.6%), while the prices for the other major destinations experienced a decline.

Cream Fresh Imports

Imports into India

Cream fresh imports into India surged to X tons in 2022, with an increase of 111% compared with the previous year. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 307% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, cream fresh imports soared to $X in 2022. Over the period under review, imports saw significant growth. The growth pace was the most rapid in 2014 when imports increased by 280%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of cream fresh to India, accounting for a 75% share of total imports. Moreover, cream fresh imports from France exceeded the figures recorded by the second-largest supplier, Ireland (X tons), sixfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France stood at +18.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+1,355.3% per year) and the United Arab Emirates (+35.9% per year).

In value terms, France ($X) constituted the largest supplier of cream fresh to India, comprising 78% of total imports. The second position in the ranking was held by Ireland ($X), with an 11% share of total imports. It was followed by the United Arab Emirates, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value from France totaled +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+1,149.6% per year) and the United Arab Emirates (+62.7% per year).

Import Prices by Country

The average cream fresh import price stood at $X per ton in 2022, falling by -3.6% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 19% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were France ($X per ton) and the United Arab Emirates ($X per ton), while the price for Ireland ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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