Apr 18, 2025
IndexBox has just published a new report: U.S. – Butter And Dairy Spreads – Market Analysis, Forecast, Size, Trends and Insights.
The demand for butter and dairy spreads in the United States is increasing, leading to a projected growth in market volume and value over the next decade. Market performance is expected to decelerate slightly, with a forecasted CAGR of +0.1% for volume and +1.6% for value from 2024 to 2035.
Market Forecast
Driven by increasing demand for butter and dairy spreads in the United States, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.1% for the period from 2024 to 2035, which is projected to bring the market volume to 1,000K tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +1.6% for the period from 2024 to 2035, which is projected to bring the market value to $8.1B (in nominal wholesale prices) by the end of 2035.
Consumption
United States’s Consumption of Butter And Dairy Spreads
In 2024, consumption of butter and dairy spreads increased by 2.3% to 990K tons, rising for the second year in a row after two years of decline. The total consumption volume increased at an average annual rate of +2.3% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the consumption volume increased by 7.2%. As a result, consumption attained the peak volume of 993K tons. From 2021 to 2024, the growth of the consumption failed to regain momentum.
The value of the butter and dairy spreads market in the United States surged to $6.8B in 2024, picking up by 19% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). In general, consumption enjoyed strong growth. Over the period under review, the market reached the maximum level in 2024 and is expected to retain growth in years to come.
Production
United States’s Production of Butter And Dairy Spreads
In 2024, the amount of butter and dairy spreads produced in the United States dropped slightly to 934K tons, approximately reflecting the previous year’s figure. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 7.6%. As a result, production reached the peak volume of 973K tons. From 2021 to 2024, production growth failed to regain momentum. Butter and dairy spreads output in the United States indicated a relatively flat trend pattern, which was largely conditioned by a relatively flat trend pattern of the producing animals number and a relatively flat trend pattern in yield figures.
In value terms, butter and dairy spreads production soared to $6.1B in 2024. Over the period under review, the total production indicated prominent growth from 2013 to 2024: its value increased at an average annual rate of +6.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production increased by +63.1% against 2021 indices. The growth pace was the most rapid in 2023 when the production volume increased by 20% against the previous year. Butter and dairy spreads production peaked in 2024 and is expected to retain growth in the immediate term.
Imports
United States’s Imports of Butter And Dairy Spreads
In 2024, approx. 87K tons of butter and dairy spreads were imported into the United States; growing by 40% compared with 2023 figures. Overall, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 67% against the previous year. Over the period under review, imports reached the peak figure in 2024 and are expected to retain growth in the near future.
In value terms, butter and dairy spreads imports soared to $726M in 2024. Over the period under review, imports posted a significant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 70%. Imports peaked in 2024 and are expected to retain growth in years to come.
Imports By Country
In 2024, Ireland (58K tons) constituted the largest supplier of butter and dairy spreads to the United States, accounting for a 66% share of total imports. Moreover, butter and dairy spreads imports from Ireland exceeded the figures recorded by the second-largest supplier, New Zealand (18K tons), threefold. France (3.7K tons) ranked third in terms of total imports with a 4.2% share.
From 2013 to 2024, the average annual growth rate of volume from Ireland amounted to +29.9%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+20.5% per year) and France (+13.8% per year).
In value terms, Ireland ($517M) constituted the largest supplier of butter and dairy spreads to the United States, comprising 71% of total imports. The second position in the ranking was held by New Zealand ($122M), with a 17% share of total imports. It was followed by France, with a 4.8% share.
From 2013 to 2024, the average annual growth rate of value from Ireland totaled +35.3%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+26.8% per year) and France (+17.9% per year).
Imports By Type
In 2024, butter (85K tons) was the main type of butter and dairy spreads supplied to the United States, accounting for a 97% share of total imports. It was followed by dairy spreads (2.6K tons), with a 3% share of total imports.
From 2013 to 2024, the average annual growth rate of the volume of butter imports stood at +24.3%.
In value terms, butter ($704M) constituted the largest type of butter and dairy spreads supplied to the United States, comprising 97% of total imports. The second position in the ranking was held by dairy spreads ($22M), with a 3% share of total imports.
From 2013 to 2024, the average annual rate of growth in terms of the value of butter imports amounted to +29.6%.
Import Prices By Type
The average butter and dairy spreads import price stood at $8,302 per ton in 2024, growing by 4.3% against the previous year. Overall, import price indicated a notable expansion from 2013 to 2024: its price increased at an average annual rate of +4.2% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, butter and dairy spreads import price increased by +27.6% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 30% against the previous year. As a result, import price attained the peak level of $9,048 per ton. From 2019 to 2024, the average import prices remained at a somewhat lower figure.
Average prices varied noticeably amongst the major supplied products. In 2024, the product with the highest price was butter ($8,307 per ton), while the price for dairy spreads stood at $8,136 per ton.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by butter (+4.2%).
Import Prices By Country
The average butter and dairy spreads import price stood at $8,302 per ton in 2024, with an increase of 4.3% against the previous year. Overall, import price indicated temperate growth from 2013 to 2024: its price increased at an average annual rate of +4.2% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, butter and dairy spreads import price increased by +27.6% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 30% against the previous year. As a result, import price attained the peak level of $9,048 per ton. From 2019 to 2024, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($9,478 per ton), while the price for Australia ($5,962 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by New Zealand (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports
United States’s Exports of Butter And Dairy Spreads
In 2024, the amount of butter and dairy spreads exported from the United States expanded sharply to 32K tons, picking up by 6.1% against the year before. Over the period under review, exports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2021 with an increase of 104% against the previous year. Over the period under review, the exports hit record highs at 84K tons in 2013; however, from 2014 to 2024, the exports remained at a lower figure.
In value terms, butter and dairy spreads exports surged to $207M in 2024. In general, exports, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2021 when exports increased by 103%. The exports peaked at $316M in 2013; however, from 2014 to 2024, the exports remained at a lower figure.
Exports By Country
Canada (21K tons) was the main destination for butter and dairy spreads exports from the United States, accounting for a 65% share of total exports. Moreover, butter and dairy spreads exports to Canada exceeded the volume sent to the second major destination, South Korea (2.2K tons), ninefold. The third position in this ranking was taken by Mexico (2K tons), with a 6.4% share.
From 2013 to 2024, the average annual growth rate of volume to Canada totaled +18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-4.5% per year) and Mexico (+3.6% per year).
In value terms, Canada ($142M) remains the key foreign market for butter and dairy spreads exports from the United States, comprising 68% of total exports. The second position in the ranking was taken by South Korea ($15M), with a 7.3% share of total exports. It was followed by Mexico, with a 7.2% share.
From 2013 to 2024, the average annual rate of growth in terms of value to Canada amounted to +24.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+0.3% per year) and Mexico (+9.7% per year).
Exports By Type
Butter (32K tons) was the largest type of butter and dairy spreads exported from the United States, with a 99% share of total exports. It was followed by dairy spreads (360 tons), with a 1.1% share of total exports.
From 2013 to 2024, the average annual growth rate of the volume of butter exports stood at -8.4%.
In value terms, butter ($206M) remains the largest type of butter and dairy spreads exported from the United States, comprising 100% of total exports. The second position in the ranking was taken by dairy spreads ($969K), with a 0.5% share of total exports.
From 2013 to 2024, the average annual rate of growth in terms of the value of butter exports totaled -3.8%.
Export Prices By Type
The average butter and dairy spreads export price stood at $6,483 per ton in 2024, surging by 19% against the previous year. In general, export price indicated a resilient increase from 2013 to 2024: its price increased at an average annual rate of +5.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, butter and dairy spreads export price increased by +63.3% against 2021 indices. The most prominent rate of growth was recorded in 2023 an increase of 19% against the previous year. Over the period under review, the average export prices attained the maximum in 2024 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major types of exported product. In 2024, the product with the highest price was butter ($6,527 per ton), while the average price for exports of dairy spreads totaled $2,687 per ton.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: butter (+5.0%).
Export Prices By Country
In 2024, the average butter and dairy spreads export price amounted to $6,483 per ton, with an increase of 19% against the previous year. In general, export price indicated a resilient expansion from 2013 to 2024: its price increased at an average annual rate of +5.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, butter and dairy spreads export price increased by +63.3% against 2021 indices. The pace of growth was the most pronounced in 2023 an increase of 19%. The export price peaked in 2024 and is likely to continue growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($7,349 per ton), while the average price for exports to the Philippines ($2,808 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.
