In 2023, the United States led global butter and ghee demand with 15.95 thousand metric tons, followed by Germany and France. European countries showed varied changes with France growing by 0.89% and Poland declining by 1.3%. A notable increase was seen in countries like India and Canada, with 1.78% and 1.58% growth, respectively. Russia and Iran experienced significant declines. China's demand remained stable, while emerging markets like Indonesia showed remarkable growth at 5.92%. South Africa also showed a significant increase with a 2.48% growth. Conversely, Argentina witnessed a substantial decrease, with a 4.01% fall.
Looking forward, emerging markets in Asia, such as Indonesia and India, are expected to continue driving demand. European countries may experience variable growth due to diverse economic conditions. The steady stability in China's demand remains crucial and might influence regional dynamics. Factors such as dietary habits and economic conditions will play significant roles in shaping the demand landscape globally.
Top countries in Butter and Ghee Demand Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 15.95 | 2023 | +0.67% | +0.42% | View data |
| 2 | 2 Germany | 9.19 | 2023 | +0.97% | +0.51% | View data |
| 3 | 3 France | 8.94 | 2023 | +0.79% | +0.89% | View data |
| 4 | 4 Russia | 5.9 | 2023 | -0.89% | -0.82% | View data |
| 5 | 5 China | 3.93 | 2023 | +0.9% | 0% | View data |
| 6 | 6 Iran | 3.27 | 2023 | -2.11% | -1.73% | View data |
| 7 | 7 India | 3.13 | 2023 | +1.71% | +1.78% | View data |
| 8 | 8 United Kingdom of Great Britain and Northern Ireland | 2.94 | 2023 | |||
| 9 | 9 Canada | 2.34 | 2023 | +1.53% | +1.58% | View data |
| 10 | 10 Australia | 2.32 | 2023 | +0.76% | +1.1% | View data |
