Northern America: Cream Fresh Market 2024

Cream Fresh Market Size in Northern America

The North American cream fresh market stood at $X in 2022, leveling off at the previous year. Over the period under review, consumption, however, showed a mild decline. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cream Fresh Production in Northern America

In value terms, cream fresh production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a mild reduction. The pace of growth appeared the most rapid in 2016 with an increase of 34%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Canada (X tons) remains the largest cream fresh producing country in Northern America, accounting for 90% of total volume. Moreover, cream fresh production in Canada exceeded the figures recorded by the second-largest producer, the United States (X tons), ninefold.

In Canada, cream fresh production plunged by an average annual rate of -2.8% over the period from 2012-2022.

Cream Fresh Exports

Exports in Northern America

In 2022, the amount of cream fresh exported in Northern America declined slightly to X tons, remaining stable against the previous year's figure. In general, exports saw a deep slump. The pace of growth appeared the most rapid in 2016 when exports increased by 230%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, cream fresh exports surged to $X in 2022. Overall, exports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2016 with an increase of 209%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The United States dominates exports structure, reaching X tons, which was approx. 91% of total exports in 2022. It was distantly followed by Canada (X tons), making up a 9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cream fresh exports from the United States stood at -9.8%. At the same time, Canada (+50.4%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +50.4% from 2012-2022. While the share of Canada (+8.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United States (-8.9 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest cream fresh supplier in Northern America, comprising 97% of total exports. The second position in the ranking was taken by Canada ($X), with a 2.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +14.2%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, with an increase of 38% against the previous year. Overall, the export price showed a significant increase. The pace of growth was the most pronounced in 2020 an increase of 690% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+26.6%).

Cream Fresh Imports

Imports in Northern America

In 2022, cream fresh imports in Northern America soared to X tons, increasing by 35% against 2021. Overall, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 49% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, cream fresh imports surged to $X in 2022. In general, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 57%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

In 2022, the United States (X tons) was the key importer of cream fresh, creating 77% of total imports. It was distantly followed by Canada (X tons), achieving an 18% share of total imports. Greenland (X tons) took a little share of total imports.

The United States was also the fastest-growing in terms of the cream fresh imports, with a CAGR of +15.3% from 2012 to 2022. At the same time, Greenland (+9.8%) and Canada (+1.3%) displayed positive paces of growth. While the share of the United States (+26 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Canada (-24.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported cream fresh in Northern America, comprising 67% of total imports. The second position in the ranking was held by Canada ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +16.0%. In the other countries, the average annual rates were as follows: Canada (+10.2% per year) and Greenland (+10.9% per year).

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, shrinking by -7.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2013 an increase of 27%. The level of import peaked at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Greenland ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+8.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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