In 2023, the import of butter to the US stood at approximately 44.6 million kilograms. The forecast for imports from 2024 to 2028 shows a consistent year-on-year increase: 2.3% in 2024, 2.3% in 2025, 2.2% in 2026, 2.1% in 2027, and 2.0% in 2028. The Compound Annual Growth Rate (CAGR) from 2023 to 2028 is estimated to be 2.2%, indicating a moderately steady increase in butter imports annually.
Future trends to watch include:
- Changes in domestic dairy production impacting import needs.
- Potential trade agreements or tariffs affecting butter import volumes and prices.
- Shifts in consumer preferences towards alternative spreads or butter substitutes.
- Global supply chain dynamics influencing availability and cost.