India: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in India

The Indian buttermilk and buttermilk powder market fell modestly to $X in 2022, remaining relatively unchanged against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Buttermilk and buttermilk powder consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Buttermilk And Buttermilk Powder in India

In value terms, buttermilk and buttermilk powder production stood at $X in 2022 estimated in export price. In general, production saw a slight slump. The pace of growth appeared the most rapid in 2013 with an increase of 64%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Exports of Buttermilk And Buttermilk Powder

Exports from India

For the eighth year in a row, India recorded growth in overseas shipments of buttermilk and buttermilk powder, which increased by 7.8% to X tons in 2022. Over the period under review, exports saw a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 271% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, buttermilk and buttermilk powder exports surged to $X in 2022. Overall, exports recorded strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 527% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons), Singapore (X tons) and Bhutan (X tons) were the main destinations of buttermilk and buttermilk powder exports from India, with a combined 74% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +90.9%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for buttermilk and buttermilk powder exports from India, comprising 40% of total exports. The second position in the ranking was held by Singapore ($X), with a 15% share of total exports. It was followed by Myanmar, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +76.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+20.2% per year) and Myanmar (+44.5% per year).

Export Prices by Country

In 2022, the average buttermilk and buttermilk powder export price amounted to $X per ton, growing by 11% against the previous year. In general, the export price, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2016 an increase of 78% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Bhutan ($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 Myanmar (+4.7%), while the prices for the other major destinations experienced a decline.

Imports of Buttermilk And Buttermilk Powder

Imports into India

In 2022, after two years of decline, there was significant growth in purchases abroad of buttermilk and buttermilk powder, when their volume increased by 454% to X tons. Overall, imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2017 when imports increased by 6,867%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, buttermilk and buttermilk powder imports soared to $X in 2022. Over the period under review, imports showed a significant expansion. The growth pace was the most rapid in 2017 when imports increased by 1,664%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Belgium (X tons) constituted the largest buttermilk and buttermilk powder supplier to India, with a 59% share of total imports. Moreover, buttermilk and buttermilk powder imports from Belgium exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. Italy (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+0.7% per year) and Italy (0.0% per year).

In value terms, the largest buttermilk and buttermilk powder suppliers to India were Australia ($X), Belgium ($X) and Italy ($X), with a combined 94% share of total imports.

In terms of the main suppliers, Australia, with a CAGR of +1.0%, saw the highest growth rate of 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

In 2022, the average buttermilk and buttermilk powder import price amounted to $X per ton, which is down by -27.6% against the previous year. Over the period under review, the import price, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2015 an increase of 217%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+45.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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