Cream Fresh Market

The global cream fresh market is projected to continue growing with a forecasted increase in consumption volume and market value from 2022 to 2030. The article provides a detailed analysis of trends in consumption, production, imports, and exports, highlighting key countries and growth rates. It also discusses average prices and fluctuations in the market over the past decade.

Market Forecast

Driven by increasing demand for cream fresh worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.8% for the period from 2022 to 2030, which is projected to bring the market volume to 4.6M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.0% for the period from 2022 to 2030, which is projected to bring the market value to $12.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Cream Fresh

In 2022, the amount of cream fresh consumed worldwide declined to 4M tons, standing approx. at 2021 figures. The total consumption volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak volume of 4M tons; afterwards, it flattened through to 2022.

The global cream fresh market size totaled $8.9B in 2022, rising by 2.3% 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). The market value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs in 2022 and is likely to continue growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Germany (502K tons), France (449K tons) and Italy (328K tons), together accounting for 32% of global consumption. Belgium, China, Canada, Poland, Russia, Spain, Sweden, Romania, Saudi Arabia and Austria lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by China (with a CAGR of +33.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($1.1B), China ($897M) and France ($846M) constituted the countries with the highest levels of market value in 2022, with a combined 32% share of the global market.

In terms of the main consuming countries, China, with a CAGR of +35.9%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of cream fresh per capita consumption was registered in Belgium (22 kg per person), followed by Sweden (10 kg per person), Austria (7.1 kg per person) and France (6.6 kg per person), while the world average per capita consumption of cream fresh was estimated at less than 0.1 kg per person.

From 2012 to 2022, the average annual rate of growth in terms of the cream fresh per capita consumption in Belgium totaled +4.7%. In the other countries, the average annual rates were as follows: Sweden (-3.7% per year) and Austria (-0.7% per year).

Production

World Production of Cream Fresh

In 2022, production of cream fresh increased by 0.9% to 3.9M tons, rising for the fourth year in a row after three years of decline. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 11%. Over the period under review, global production reached the maximum volume in 2022 and is likely to continue growth in the near future. The general positive trend in terms output was largely conditioned by a relatively flat trend pattern of the number of producing animals and a relatively flat trend pattern in yield figures.

In value terms, cream fresh production fell modestly to $8.3B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 26%. Global production peaked at $8.6B in 2018; however, from 2019 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Germany (536K tons), France (481K tons) and Italy (281K tons), together comprising 33% of global production. Poland, Canada, Belgium, Russia, New Zealand, Spain, the Netherlands, Sweden, Saudi Arabia and Lithuania lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +13.0%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Cream Fresh

In 2022, the amount of cream fresh imported worldwide amounted to 1.7M tons, picking up by 4.1% on the previous year's figure. The total import volume increased at an average annual rate of +5.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 14%. Over the period under review, global imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, cream fresh imports soared to $4.8B in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +8.1% 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 +53.1% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 40%. Global imports peaked in 2022 and are expected to retain growth in years to come.

Imports By Country

China (256K tons), Germany (194K tons), Belgium (188K tons), France (142K tons) and the Netherlands (134K tons) represented roughly 53% of total imports in 2022. The following importers - Italy (78K tons), Poland (71K tons), Spain (47K tons), South Korea (45K tons), Denmark (41K tons), Iraq (35K tons), Malaysia (28K tons) and Greece (27K tons) - together made up 21% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +33.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest cream fresh importing markets worldwide were China ($965M), Germany ($623M) and Belgium ($497M), together accounting for 43% of global imports.

China, with a CAGR of +36.9%, recorded the highest growth rate of 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 cream fresh import price amounted to $2,755 per ton, rising by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 28%. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($3,763 per ton), while Iraq ($952 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Cream Fresh

In 2022, global exports of cream fresh expanded significantly to 1.7M tons, with an increase of 6.8% against the previous year's figure. The total export volume increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 12%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, cream fresh exports surged to $4.7B in 2022. Overall, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.7% 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 +57.6% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 36%. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports By Country

The Netherlands (236K tons), Germany (228K tons), France (175K tons), Belgium (169K tons) and New Zealand (156K tons) represented roughly 57% of total exports in 2022. Poland (101K tons) took the next position in the ranking, followed by Spain (94K tons), Lithuania (85K tons) and Denmark (80K tons). All these countries together held near 21% share of total exports. The following exporters - Ireland (32K tons), Italy (30K tons), Saudi Arabia (28K tons) and Kuwait (26K tons) - each amounted to a 6.9% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +27.4%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest cream fresh supplying countries worldwide were the Netherlands ($731M), Germany ($663M) and New Zealand ($603M), with a combined 42% share of global exports. Belgium, France, Poland, Lithuania, Spain, Ireland, Italy, Denmark, Saudi Arabia and Kuwait lagged somewhat behind, together comprising a further 45%.

Among the main exporting countries, Ireland, with a CAGR of +31.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average cream fresh export price amounted to $2,829 per ton, surging by 17% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cream fresh export price increased by +32.0% against 2020 indices. The growth pace was the most rapid in 2017 when the average export price increased by 35% against the previous year. The global export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ireland ($4,654 per ton), while Kuwait ($931 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+7.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform