New Zealand: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in New Zealand

In 2022, the New Zealand butter and dairy spreads market decreased by -20.5% to $X, falling for the second consecutive year after two years of growth. Overall, consumption continues to indicate a prominent increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Butter And Dairy Spreads in New Zealand

In value terms, butter and dairy spreads production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 remained at a lower figure.

Exports of Butter And Dairy Spreads

Exports from New Zealand

Butter and dairy spreads exports from New Zealand soared to X tons in 2022, increasing by 73% against the previous year. In general, total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +75.7% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, butter and dairy spreads exports skyrocketed to $X in 2022. Overall, exports enjoyed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for butter and dairy spreads exports from New Zealand, with a 31% share of total exports. Moreover, butter and dairy spreads exports to China exceeded the volume sent to the second major destination, Australia (X tons), threefold. The third position in this ranking was taken by Saudi Arabia (X tons), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled +18.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+10.2% per year) and Saudi Arabia (+10.8% per year).

In value terms, China ($X) remains the key foreign market for butter and dairy spreads exports from New Zealand, comprising 31% of total exports. The second position in the ranking was taken by Australia ($X), with an 11% share of total exports. It was followed by Saudi Arabia, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +24.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+15.8% per year) and Saudi Arabia (+17.4% per year).

Export Prices by Country

In 2022, the average butter and dairy spreads export price amounted to $X per ton, increasing by 18% against the previous year. Over the period under review, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.8% 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 +37.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 62% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and Indonesia ($X per ton), while the average price for exports to Canada ($X per ton) and Japan ($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 (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports into New Zealand

In 2022, supplies from abroad of butter and dairy spreads increased by 21% to X tons, rising for the fourth consecutive year after two years of decline. Overall, imports showed a tangible increase. The most prominent rate of growth was recorded in 2016 with an increase of 112% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, butter and dairy spreads imports soared to $X in 2022. Over the period under review, imports recorded a strong increase. The pace of growth appeared the most rapid in 2016 when imports increased by 115% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of butter and dairy spreads to New Zealand, accounting for a 51% share of total imports. Moreover, butter and dairy spreads imports from India exceeded the figures recorded by the second-largest supplier, Ireland (X tons), twofold. The third position in this ranking was held by Denmark (X tons), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +52.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+20.4% per year) and Denmark (+7.8% per year).

In value terms, the largest butter and dairy spreads suppliers to New Zealand were India ($X), Ireland ($X) and Denmark ($X), with a combined 87% share of total imports.

India, with a CAGR of +56.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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 butter and dairy spreads import price amounted to $X per ton, jumping by 22% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, 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 Ireland ($X per ton), while the price for India ($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 (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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