Italy: Cream Fresh Market 2024

Cream Fresh Market Size in Italy

In 2022, after two years of decline, there was growth in the Italian cream fresh market, when its value increased by 2.3% to $X. Over the period under review, consumption continues to indicate strong growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Cream Fresh Production in Italy

In value terms, cream fresh production amounted to $X in 2022 estimated in export price. Overall, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 139% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Cream Fresh Exports

Exports from Italy

In 2022, shipments abroad of cream fresh increased by 23% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, exports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 140%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, cream fresh exports surged to $X in 2022. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 137% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

South Korea (X tons) was the main destination for cream fresh exports from Italy, with a 58% share of total exports. Moreover, cream fresh exports to South Korea exceeded the volume sent to the second major destination, Belgium (X tons), fivefold. The third position in this ranking was held by France (X tons), with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to South Korea totaled +45.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+19.5% per year) and France (-7.1% per year).

In value terms, South Korea ($X) remains the key foreign market for cream fresh exports from Italy, comprising 62% of total exports. The second position in the ranking was held by Belgium ($X), with a 13% share of total exports. It was followed by China, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea totaled +48.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+27.8% per year) and China (+63.4% per year).

Export Prices by Country

The average cream fresh export price stood at $X per ton in 2022, growing by 29% against the previous year. Overall, the export price enjoyed a buoyant increase. The growth pace was the most rapid in 2017 an increase of 35% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Greece ($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 Qatar (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cream Fresh Imports

Imports into Italy

In 2022, after two years of decline, there was significant growth in supplies from abroad of cream fresh, when their volume increased by 15% to X tons. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, cream fresh imports soared to $X in 2022. The total import value increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), France (X tons) and Belgium (X tons) were the main suppliers of cream fresh imports to Italy, together accounting for 62% of total imports. Spain, Hungary, Austria, the Netherlands and Poland lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +13.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of cream fresh to Italy, comprising 36% of total imports. The second position in the ranking was held by Belgium ($X), with a 15% share of total imports. It was followed by France, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+9.4% per year) and France (-6.2% per year).

Import Prices by Country

The average cream fresh import price stood at $X per ton in 2022, picking up by 21% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cream fresh import price increased by +51.1% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 37%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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