Pakistan: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Pakistan

In 2022, the Pakistani butter and dairy spreads market decreased by -75.2% to $X, falling for the sixth year in a row after five years of growth. Overall, consumption, however, enjoyed a prominent increase. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Butter And Dairy Spreads in Pakistan

In value terms, butter and dairy spreads production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a precipitous decrease. The pace of growth appeared the most rapid in 2013 with a decrease of 99.9%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Butter And Dairy Spreads

Exports from Pakistan

In 2022, overseas shipments of butter and dairy spreads increased by 423% to X tons, rising for the second year in a row after two years of decline. Overall, exports enjoyed a slight expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, butter and dairy spreads exports surged to $X in 2022. Over the period under review, exports continue to indicate prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Hong Kong SAR (X tons), the United States (X tons) and the United Arab Emirates (X tons) were the main destinations of butter and dairy spreads exports from Pakistan, together comprising 88% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +47.5%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the key foreign market for butter and dairy spreads exports from Pakistan, comprising 49% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 24% share of total exports. It was followed by the United States, with a 20% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR amounted to +58.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+48.5% per year) and the United States (+23.3% per year).

Export Prices by Country

The average butter and dairy spreads export price stood at $X per ton in 2022, with an increase of 12% against the previous year. Overall, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.0% 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 +80.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 49% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Canada ($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 South Korea (+77.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports into Pakistan

For the fourth consecutive year, Pakistan recorded decline in supplies from abroad of butter and dairy spreads, which decreased by -8.5% to X tons in 2022. In general, imports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2016 with an increase of 156% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, butter and dairy spreads imports fell markedly to $X in 2022. Over the period under review, imports, however, saw resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of 236%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Denmark (X tons) constituted the largest supplier of butter and dairy spreads to Pakistan, accounting for a 65% share of total imports. Moreover, butter and dairy spreads imports from Denmark exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Denmark amounted to +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+26.0% per year) and the United Arab Emirates (-1.4% per year).

In value terms, Denmark ($X) constituted the largest supplier of butter and dairy spreads to Pakistan, comprising 72% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Denmark amounted to +19.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+2.2% per year) and the United States (+21.6% per year).

Import Prices by Country

In 2022, the average butter and dairy spreads import price amounted to $X per ton, shrinking by -20.5% against the previous year. In general, import price indicated pronounced growth 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, butter and dairy spreads import price decreased by -20.8% against 2020 indices. The pace of growth was the most pronounced in 2015 an increase of 33% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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