Northern America: Cream Market 2021

Cream Market Size in Northern America

The North American cream market contracted slightly to $X in 2020, flattening at the previous year. In general, consumption recorded prominent growth. The pace of growth appeared the most rapid in 2014 when the market value increased by X% year-to-year. Over the period under review, the market hit record highs at $X in 2019, and then dropped modestly in the following year.

Cream Production in Northern America

In value terms, cream production dropped to $X in 2020 estimated in export prices. Overall, production showed a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2019, and then declined slightly in the following year.

Production By Country in Northern America

The U.S. (X tons) remains the largest cream producing country in Northern America, comprising approx. X% of total volume. Moreover, cream production in the U.S. exceeded the figures recorded by the second-largest producer, Canada (X tons), sevenfold.

In the U.S., cream production expanded at an average annual rate of +X% over the period from 2007-2020.

Cream Exports

Exports in Northern America

In 2020, overseas shipments of cream decreased by -X% to X tons, falling for the tenth year in a row after two years of growth. Over the period under review, exports faced a sharp contraction. The pace of growth appeared the most rapid in 2009 when exports increased by X% year-to-year. The volume of export peaked at X tons in 2010; however, from 2011 to 2020, exports failed to regain the momentum.

In value terms, cream exports contracted slightly to $X in 2020. Overall, exports faced a deep contraction. The pace of growth appeared the most rapid in 2009 with an increase of X% year-to-year. As a result, exports reached the peak of $X. From 2010 to 2020, the growth exports remained at a lower figure.

Exports by Country

In 2020, Canada (X tons) was the main exporter of cream, committing X% of total exports. It was distantly followed by the U.S. (X tons), committing a X% share of total exports.

Canada was also the fastest-growing in terms of the cream exports, with a CAGR of -X% from 2007 to 2020. the U.S. (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of Canada increased by +X% percentage points, while the U.S. (-X p.p.) saw their share reduced.

In value terms, Canada ($X) remains the largest cream supplier in Northern America, comprising X% of total exports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total exports.

In Canada, cream exports shrank by an average annual rate of -X% over the period from 2007-2020.

Export Prices by Country

The cream export price in Northern America stood at $X per ton in 2020, picking up by X% against the previous year. Overall, the export price continues to indicate strong growth. The pace of growth was the most pronounced in 2012 when the export price increased by X% year-to-year. Over the period under review, export prices attained the peak figure in 2020 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2020, the country with the highest price was Canada ($X per ton), while the U.S. amounted to $X per ton.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Canada.

Cream Imports

Imports in Northern America

In 2020, approx. X tons of cream were imported in Northern America; rising by X% compared with 2019 figures. Over the period under review, imports posted a buoyant expansion. The pace of growth was the most pronounced in 2010 when imports increased by X% y-o-y. The volume of import peaked in 2020 and is expected to retain growth in years to come.

In value terms, cream imports expanded notably to $X in 2020. Total imports indicated notable growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2009 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Canada dominates cream imports structure, reaching X tons, which was near X% of total imports in 2020. It was distantly followed by Greenland (X tons), constituting a X% share of total imports. The U.S. (X tons) followed a long way behind the leaders.

Canada was also the fastest-growing in terms of the cream imports, with a CAGR of +X% from 2007 to 2020. At the same time, Greenland (+X%) displayed positive paces of growth. By contrast, the U.S. (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of Canada increased by +X% percentage points, while the U.S. (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Canada ($X) constitutes the largest market for imported cream in Northern America, comprising X% of total imports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total imports.

From 2007 to 2020, the average annual growth rate of value in Canada stood at +X%. In the other countries, the average annual rates were as follows: the U.S. (-X% per year) and Greenland (+X% per year).

Import Prices by Country

In 2020, the cream import price in Northern America amounted to $X per ton, waning by -X% against the previous year. Overall, the import price continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2011 when the import price increased by X% year-to-year. The level of import peaked at $X per ton in 2008; however, from 2009 to 2020, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was the U.S. ($X per ton), while Canada ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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