India: Ghee Market 2025

Ghee Market Size in India

The Indian ghee market rose to $X in 2022, increasing by 2.8% against the previous year. Overall, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.9% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Ghee Production in India

In value terms, ghee production rose to $X in 2022 estimated in export price. Over the period under review, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.4% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 16% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Ghee Exports

Exports from India

In 2022, approx. X tons of ghee were exported from India; rising by 29% on the previous year. Over the period under review, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 75% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, ghee exports skyrocketed to $X in 2022. Overall, exports enjoyed a remarkable increase. The growth pace was the most rapid in 2018 with an increase of 58% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons), Saudi Arabia (X tons) and Qatar (X tons) were the main destinations of ghee exports from India, together comprising 52% of total exports. The United States, Indonesia, Australia, Singapore, Oman and Kuwait lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +744.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X) appeared to be the largest markets for ghee exported from India worldwide, with a combined 51% share of total exports. The United States, Indonesia, Australia, Singapore, Oman and Kuwait lagged somewhat behind, together accounting for a further 35%.

Among the main countries of destination, Indonesia, with a CAGR of +705.5%, saw the highest rates of growth with regard to the value of exports, 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 ghee export price amounted to $X per ton, increasing by 5.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 13%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and Singapore ($X per ton), while the average price for exports to Qatar ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Ghee Imports

Imports into India

In 2022, overseas purchases of ghee were finally on the rise to reach X tons after six years of decline. In general, imports, however, recorded a dramatic curtailment. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, ghee imports surged to $X in 2022. Over the period under review, imports, however, faced a dramatic downturn. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest ghee supplier to India, with a 71% share of total imports. Moreover, ghee imports from Indonesia exceeded the figures recorded by the second-largest supplier, Bahrain (X tons), fourfold. The third position in this ranking was taken by Belgium (X tons), with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Bahrain (+27.4% per year) and Belgium (+49.2% per year).

In value terms, Indonesia ($X) constituted the largest supplier of ghee to India, comprising 68% of total imports. The second position in the ranking was held by Bahrain ($X), with a 21% share of total imports. It was followed by Belgium, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Bahrain (+30.2% per year) and Belgium (+21.8% per year).

Import Prices by Country

In 2022, the average ghee import price amounted to $X per ton, approximately reflecting the previous year. Overall, the import price, however, continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2020 when the average import price increased by 61% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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