Ireland: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Ireland

In 2022, the Irish butter and dairy spreads market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. Overall, consumption, however, saw a pronounced decline. Butter and dairy spreads consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Butter And Dairy Spreads in Ireland

In value terms, butter and dairy spreads production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 33% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Butter And Dairy Spreads

Exports from Ireland

In 2022, shipments abroad of butter and dairy spreads decreased by -14.6% to X tons, falling for the second year in a row after six years of growth. Overall, total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -19.0% against 2020 indices. The growth pace was the most rapid in 2015 when exports increased by 24% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, butter and dairy spreads exports skyrocketed to $X in 2022. Over the period under review, exports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2017 when exports increased by 66% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The Netherlands (X tons), the UK (X tons) and the United States (X tons) were the main destinations of butter and dairy spreads exports from Ireland, with a combined 63% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +30.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for butter and dairy spreads exported from Ireland were the Netherlands ($X), the United States ($X) and the UK ($X), together accounting for 58% of total exports.

The United States, with a CAGR of +38.4%, saw the highest rates of growth with regard to 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 butter and dairy spreads export price amounted to $X per ton, with an increase of 58% against the previous year. In general, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads export price increased by +88.7% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the Netherlands ($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 Belgium (+18.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports into Ireland

In 2022, imports of butter and dairy spreads into Ireland totaled X tons, flattening at 2021 figures. Over the period under review, imports saw moderate growth. The pace of growth appeared the most rapid in 2020 with an increase of 271%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, butter and dairy spreads imports amounted to $X in 2022. In general, imports showed buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of 269% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the UK (X tons) constituted the largest butter and dairy spreads supplier to Ireland, with a 76% share of total imports. Moreover, butter and dairy spreads imports from the UK exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sixfold. Belgium (X tons) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume from the UK amounted to +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+39.1% per year) and Belgium (-0.9% per year).

In value terms, the UK ($X) constituted the largest supplier of butter and dairy spreads to Ireland, comprising 84% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 9.9% share of total imports. It was followed by Belgium, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value from the UK stood at +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+53.2% per year) and Belgium (-5.0% per year).

Import Prices by Country

In 2022, the average butter and dairy spreads import price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price continues to indicate resilient growth. The pace of growth appeared the most rapid in 2017 when the average import price increased by 33% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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 the UK ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :