United Kingdom: Dairy Spread Market 2024

Dairy Spread Market Size in the UK

For the fifth year in a row, the UK dairy spread market recorded decline in sales value, which decreased by -1.9% to $X in 2022. Overall, consumption showed a abrupt shrinkage. The growth pace was the most rapid in 2017 when the market value increased by 7%. Dairy spread consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Dairy Spread Production in the UK

In value terms, dairy spread production reduced to $X in 2022 estimated in export price. Overall, production showed a pronounced reduction. The pace of growth was the most pronounced in 2017 when the production volume increased by 38%. Dairy spread production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Dairy Spread Exports

Exports from the UK

In 2022, after eight years of decline, there was significant growth in overseas shipments of dairy spreads, when their volume increased by 29% to X tons. Overall, exports, however, recorded a significant decline. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, dairy spread exports surged to $X in 2022. Over the period under review, exports, however, saw a abrupt contraction. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

South Korea (X tons) was the main destination for dairy spread exports from the UK, accounting for a 78% share of total exports. Moreover, dairy spread exports to South Korea exceeded the volume sent to the second major destination, Ireland (X tons), fivefold. Iraq (X tons) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Korea amounted to +11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (-29.7% per year) and Iraq (0.0% per year).

In value terms, South Korea ($X) remains the key foreign market for dairy spreads exports from the UK, comprising 83% of total exports. The second position in the ranking was held by Ireland ($X), with a 13% share of total exports. It was followed by Iraq, with a 1.1% share.

From 2012 to 2022, the average annual growth rate of value to South Korea amounted to +18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (-24.9% per year) and Iraq (0.0% per year).

Export Prices by Country

In 2022, the average dairy spread export price amounted to $X per ton, rising by 23% against the previous year. Overall, the export price posted a resilient increase. The pace of growth appeared the most rapid in 2017 an increase of 51%. The export price peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Iraq ($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 Spain (+43.8%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Spread Imports

Imports into the UK

In 2022, purchases abroad of dairy spreads decreased by -5.2% to X tons, falling for the seventh year in a row after two years of growth. Overall, imports recorded a sharp setback. The most prominent rate of growth was recorded in 2015 when imports increased by 23%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, dairy spread imports declined markedly to $X in 2022. In general, imports faced a dramatic downturn. The pace of growth was the most pronounced in 2019 with an increase of 12% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of dairy spread to the UK, accounting for a 61% share of total imports. Moreover, dairy spread imports from France exceeded the figures recorded by the second-largest supplier, Denmark (X tons), threefold. Ireland (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume from France totaled +17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+4.3% per year) and Ireland (-43.5% per year).

In value terms, France ($X) constituted the largest supplier of dairy spreads to the UK, comprising 63% of total imports. The second position in the ranking was taken by Denmark ($X), with a 22% share of total imports. It was followed by Germany, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France amounted to +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-0.8% per year) and Germany (-13.3% per year).

Import Prices by Country

In 2022, the average dairy spread import price amounted to $X per ton, which is down by -12% against the previous year. In general, the import price, however, posted resilient growth. The pace of growth was the most pronounced in 2021 an increase of 55% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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