Report Update Nov 1, 2024

Mexico - Butter - Market Analysis, Forecast, Size, Trends and Insights

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Mexico: Butter Market 2024

Butter Market Size in Mexico

The Mexican butter market fell slightly to $X in 2022, approximately equating the previous year. Overall, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +11.1% against 2020 indices. Butter consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Butter Production in Mexico

In value terms, butter production declined modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.2% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 28%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Butter Exports

Exports from Mexico

For the third year in a row, Mexico recorded decline in shipments abroad of butter, which decreased by -84.9% to X tons in 2022. Over the period under review, exports faced a deep setback. The growth pace was the most rapid in 2015 when exports increased by 1,047%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, butter exports reduced dramatically to $X in 2022. In general, exports showed a deep downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 1,055%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for butter exports from Mexico, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +37.1%.

In value terms, the United States ($X) emerged as the key foreign market for butter exports from Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +39.4%.

Export Prices by Country

In 2022, the average butter export price amounted to $X per ton, which is down by -30.6% against the previous year. Over the period under review, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter export price decreased by -42.3% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 28%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Canada amounted to +7.4% per year.

Butter Imports

Imports into Mexico

Butter imports into Mexico surged to X tons in 2022, growing by 43% against the previous year. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 118% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, butter imports surged to $X in 2022. Overall, imports continue to indicate perceptible growth. The growth pace was the most rapid in 2018 when imports increased by 116%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), New Zealand (X tons) and France (X tons) were the main suppliers of butter imports to Mexico.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +7.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), New Zealand ($X) and France ($X) constituted the largest butter suppliers to Mexico.

In terms of the main suppliers, the United States, with a CAGR of +10.1%, recorded the highest rates of growth with regard to 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

The average butter import price stood at $X per ton in 2022, with an increase of 35% against the previous year. In general, the import price recorded a tangible increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+14.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for butter in the world?

The countries with the highest volumes of butter consumption in 2021 were the United States, Germany and France, with a combined 34% share of global consumption. Russia, New Zealand, Turkey, Iran, the UK, China, Poland, Canada, Brazil and Italy lagged somewhat behind, together comprising a further 34%.

What are the largest producers of butter in the world?

The countries with the highest volumes of butter production in 2021 were the United States, New Zealand and Germany, together comprising 34% of global production. These countries were followed by France, Ireland, Russia, Turkey, Iran, Poland, the Netherlands, the UK, Belarus and Canada, which together accounted for a further 36%.

What are the leading suppliers of butter to Mexico?

In value terms, the United States, New Zealand and Denmark were the largest butter suppliers to Mexico, with a combined 80% share of total imports.

What is the average export price for butter in Mexico?

In 2020, the average butter export price amounted to $4,675 per ton, approximately reflecting the previous year.

What is the average import price for butter in Mexico?

In 2021, the average butter import price amounted to $4,988 per ton, increasing by 23% against the previous year.

This report provides an in-depth analysis of the butter market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 886 - Butter of Cow Milk

Country coverage:

Mexico

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Mexico
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023