Key Market Indicators
Iceland's butter consumption is expected to remain unchanged at 2 thousand metric tons through 2026. Since 2017, demand for butter in the country has remained steady, and in 2021, Iceland was in 88th place in the world ranking, behind Cyprus with 2 thousand metric tons. Germany, France, and Russia followed in second, third, and fourth place respectively. Iceland's butter production is projected to increase by 0.9% annually, reaching 2,600 metric tons by 2026. Since 1966, production has decreased by 0.6% each year. In 2021, Iceland ranked 69th in the world, with Botswana in the lead with 2,460 metric tons. New Zealand, Germany, and France took the second, third, and fourth spots in the ranking.