U.S.: Creamery Butter Market 2022

Creamery Butter Market Size in the U.S.

The U.S. creamery butter market expanded sharply to $X in 2020, growing by X% against the previous year. Overall, consumption recorded a strong expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Creamery butter consumption peaked in 2020 and is expected to retain growth in the immediate term.

Creamery Butter Production in the U.S.

In value terms, creamery butter production expanded remarkably to $X in 2020. Over the period under review, production showed a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2020, production failed to regain the momentum.

Creamery Butter Exports

Exports from the U.S.

In 2020, overseas shipments of creamery butter decreased by -X% to X tons, falling for the second year in a row after three years of growth. In general, exports showed a perceptible downturn. The pace of growth appeared the most rapid in 2008 with an increase of X% y-o-y. As a result, exports attained the peak of X tons. from 2009 to 2020, the growth exports remained at a somewhat lower figure.

In value terms, creamery butter exports dropped markedly to $X in 2020. Over the period under review, exports showed a noticeable descent. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Over the period under review, exports hit record highs at $X in 2013; however, from 2014 to 2020, exports failed to regain the momentum.

Exports by Country

Canada (X tons) was the main destination for creamery butter exports from the U.S., with a X% share of total exports. Moreover, creamery butter exports to Canada exceeded the volume sent to the second major destination, Saudi Arabia (X tons), threefold. Mexico (X tons) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual growth rate of volume to Canada stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+X% per year) and Mexico (-X% per year).

In value terms, Canada ($X) remains the key foreign market for creamery butter exports from the U.S., comprising X% of total exports. The second position in the ranking was occupied by Saudi Arabia ($X), with a X% share of total exports. It was followed by Mexico, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to Canada totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+X% per year) and Mexico (-X% per year).

Export Prices by Country

The average creamery butter export price stood at $X per ton in 2020, reducing by -X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. Over the period under review, average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was South Korea ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia, while the prices for the other major destinations experienced more modest paces of growth.

Creamery Butter Imports

Imports into the U.S.

In 2020, after three years of growth, there was significant decline in overseas purchases of creamery butter, when their volume decreased by -X% to X tons. Over the period under review, imports, however, continue to indicate a noticeable expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% y-o-y. Imports peaked at X tons in 2019, and then fell rapidly in the following year.

In value terms, creamery butter imports declined to $X in 2020. In general, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X% year-to-year. Imports peaked at $X in 2019, and then declined in the following year.

Imports by Country

In 2020, Ireland (X tons) constituted the largest creamery butter supplier to the U.S., accounting for a X% share of total imports. Moreover, creamery butter imports from Ireland exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fourfold. The third position in this ranking was occupied by New Zealand (X tons), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from Ireland stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+X% per year) and New Zealand (-X% per year).

In value terms, Ireland ($X) constituted the largest supplier of creamery butter to the U.S., comprising X% of total imports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total imports. It was followed by New Zealand, with a X% share.

From 2007 to 2020, the average annual growth rate of value from Ireland amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+X% per year) and New Zealand (-X% per year).

Import Prices by Country

The average creamery butter import price stood at $X per ton in 2020, surging by X% against the previous year. In general, the import price recorded a strong expansion. The pace of growth was the most pronounced in 2011 an increase of X% y-o-y. Over the period under review, average import prices hit record highs in 2020 and is likely to continue growth in the near future.

Prices varied noticeably by the country of origin; the country with the highest price was France ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by New Zealand, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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