U.S.: Cream Fresh Market 2024

Cream Fresh Market Size in the U.S.

The U.S. cream fresh market skyrocketed to $X in 2022, jumping by 19% against the previous year. Over the period under review, consumption continues to indicate resilient growth. Cream fresh consumption peaked in 2022 and is expected to retain growth in years to come.

Cream Fresh Production in the U.S.

In value terms, cream fresh production shrank slightly to $X in 2022. In general, the total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +0.2% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 38% against the previous year. Cream fresh production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Cream Fresh Exports

Exports from the U.S.

In 2022, exports of cream fresh from the United States fell to X tons, waning by -4% on the previous year's figure. In general, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2016 when exports increased by 230%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, cream fresh exports soared to $X in 2022. Overall, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 207% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for cream fresh exports from the United States, accounting for a 60% share of total exports. Moreover, cream fresh exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), threefold. The third position in this ranking was taken by the Philippines (X tons), with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada amounted to -9.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-0.2% per year) and the Philippines (+10.2% per year).

In value terms, the largest markets for cream fresh exported from the United States were Canada ($X), Mexico ($X) and Cayman Islands ($X), together comprising 86% of total exports.

Cayman Islands, with a CAGR of +46.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cream fresh export price stood at $X per ton in 2022, picking up by 42% against the previous year. In general, the export price saw a significant expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 727% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to the Philippines ($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 Mexico (+35.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cream Fresh Imports

Imports into the U.S.

Cream fresh imports into the United States surged to X tons in 2022, rising by 55% on the previous year. Overall, imports continue to indicate buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cream fresh imports soared to $X in 2022. In general, imports saw a buoyant increase. The pace of growth was the most pronounced in 2019 with an increase of 43%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

France (X tons), Mexico (X tons) and Bahrain (X tons) were the main suppliers of cream fresh imports to the United States, with a combined 80% share of total imports. Italy, Ireland and the UK lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +71.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of cream fresh to the United States, comprising 74% of total imports. The second position in the ranking was taken by France ($X), with an 8.3% share of total imports. It was followed by the UK, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico stood at +25.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-0.1% per year) and the UK (+5.6% per year).

Import Prices by Country

The average cream fresh import price stood at $X per ton in 2022, reducing by -20.9% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 30%. As a result, import price attained the peak level of $X per ton, and then contracted dramatically in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+13.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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