U.S.: Dairy Spread Market 2024

Dairy Spread Market Size in the U.S.

The U.S. dairy spread market rose modestly to $X in 2022, increasing by 3.3% against the previous year. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.9% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Dairy Spread Production in the U.S.

In value terms, dairy spread production expanded modestly to $X in 2022. Overall, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.3% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 31%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Dairy Spread Exports

Exports from the U.S.

In 2022, shipments abroad of dairy spreads was finally on the rise to reach X tons after four years of decline. Overall, exports, however, saw a abrupt contraction. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, dairy spread exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a drastic downturn. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

South Korea (X tons), France (X tons) and Japan (X tons) were the main destinations of dairy spread exports from the United States, together comprising 34% of total exports. China, the Dominican Republic, Bermuda, Bahamas, Iceland, the Philippines, Mexico and Panama lagged somewhat behind, together accounting for a further 54%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iceland (with a CAGR of +216.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for dairy spread exported from the United States were Bermuda ($X), the Dominican Republic ($X) and South Korea ($X), together accounting for 36% of total exports. France, Japan, China, Bahamas, Iceland, the Philippines, Mexico and Panama lagged somewhat behind, together accounting for a further 51%.

In terms of the main countries of destination, Iceland, with a CAGR of +72.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average dairy spread export price amounted to $X per ton, with a decrease of -13.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. The pace of growth appeared the most rapid in 2016 an increase of 23%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to the Philippines ($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 Panama (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Spread Imports

Imports into the U.S.

In 2022, the amount of dairy spreads imported into the United States soared to X tons, picking up by 34% on the previous year's figure. Over the period under review, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2019 with an increase of 58% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, dairy spread imports soared to $X in 2022. In general, imports posted a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Ireland (X tons) constituted the largest supplier of dairy spread to the United States, accounting for a 65% share of total imports. Moreover, dairy spread imports from Ireland exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fourfold. India (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual growth rate of volume from Ireland amounted to +79.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+24.5% per year) and India (+32.6% per year).

In value terms, Ireland ($X) constituted the largest supplier of dairy spreads to the United States, comprising 73% of total imports. The second position in the ranking was taken by Brazil ($X), with a 12% share of total imports. It was followed by India, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ireland amounted to +76.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+28.2% per year) and India (+37.3% per year).

Import Prices by Country

The average dairy spread import price stood at $X per ton in 2022, with an increase of 14% against the previous year. In general, import price indicated tangible 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, dairy spread import price increased by +29.1% against 2020 indices. The growth pace was the most rapid in 2015 an increase of 49%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Bangladesh ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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