Global Ghee Market 2024

Ghee Market Size

The global ghee market expanded slightly to $X in 2022, growing by X% against the previous year. Overall, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the global market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Ghee Production

In value terms, ghee production rose modestly to $X in 2022 estimated in export price. In general, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Global production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of ghee production was India (X tons), comprising approx. X% of total volume. Moreover, ghee production in India exceeded the figures recorded by the second-largest producer, Pakistan (X tons), sevenfold. The third position in this ranking was held by New Zealand (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in India stood at X%. In the other countries, the average annual rates were as follows: Pakistan (X% per year) and New Zealand (X% per year).

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Ghee Exports

Exports

After three years of decline, shipments abroad of ghee increased by X% to X tons in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The global exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, ghee exports surged to $X in 2022. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

New Zealand was the major exporter of ghee in the world, with the volume of exports finishing at X tons, which was near X% of total exports in 2022. The Netherlands (X tons) held the second position in the ranking, distantly followed by Germany (X tons) and Belgium (X tons). All these countries together held approx. X% share of total exports. India (X tons), France (X tons), the United States (X tons), the UK (X tons), Spain (X tons), Denmark (X tons) and Ireland (X tons) followed a long way behind the leaders.

New Zealand experienced a relatively flat trend pattern with regard to volume of exports of ghee. At the same time, Denmark (X%), the United States (X%), India (X%), Spain (X%), Germany (X%) and the Netherlands (X%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. By contrast, Belgium (X%), the UK (X%), France (X%) and Ireland (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States, Denmark, India, the Netherlands, Germany and Spain increased by X, X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) remains the largest ghee supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by the Netherlands ($X), with an X% share of global exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value in New Zealand totaled X%. In the other countries, the average annual rates were as follows: the Netherlands (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average ghee export price amounted to $X per ton, increasing by X% against the previous year. In general, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% against the previous year. The global export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (X%), while the other global leaders experienced more modest paces of growth.

Ghee Imports

Imports

In 2022, the amount of ghee imported worldwide rose markedly to X tons, increasing by X% compared with the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Global imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, ghee imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the four major importers of ghee, namely China, Belgium, Italy and France, represented more than third of total import. It was followed by the United States (X tons), constituting a X% share of total imports. Germany (X tons), Denmark (X tons), the Philippines (X tons), Poland (X tons), Thailand (X tons), Malaysia (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Denmark (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Italy ($X), Belgium ($X) and China ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of global imports. France, Germany, the Philippines, Denmark, Thailand, Malaysia, the United States, the United Arab Emirates, Poland and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

Denmark, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average ghee import price amounted to $X per ton, rising by X% against the previous year. In general, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of X%. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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