Apr 5, 2025
IndexBox has just published a new report: EU – Butter – Market Analysis, Forecast, Size, Trends and Insights.
The European Union butter market is expected to experience continued growth over the next decade, with a forecasted CAGR of +0.3% in volume and +2.0% in value from 2024 to 2035. This growth is attributed to rising demand for butter in the region, leading to increased market performance and expansion.
Market Forecast
Driven by increasing demand for butter in the European Union, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.3% for the period from 2024 to 2035, which is projected to bring the market volume to 2.1M tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +2.0% for the period from 2024 to 2035, which is projected to bring the market value to $14.7B (in nominal wholesale prices) by the end of 2035.
Consumption
European Union’s Consumption of Butter
Butter consumption fell slightly to 2M tons in 2024, flattening at the previous year’s figure. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, consumption attained the maximum volume at 2.2M tons in 2020; however, from 2021 to 2024, consumption stood at a somewhat lower figure.
The value of the butter market in the European Union rose to $11.9B in 2024, picking up by 3.1% 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 +2.1% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $12.8B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.
Consumption By Country
The countries with the highest volumes of consumption in 2024 were France (512K tons), Germany (442K tons) and Poland (203K tons), together accounting for 57% of total consumption. Denmark, Italy, the Netherlands, Belgium, Spain, Ireland and the Czech Republic lagged somewhat behind, together comprising a further 30%.
From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Spain (with a CAGR of +6.3%), while consumption for the other leaders experienced more modest paces of growth.
In value terms, France ($3.4B), Germany ($2.5B) and Poland ($1.1B) appeared to be the countries with the highest levels of market value in 2024, with a combined 59% share of the total market. Denmark, Italy, the Netherlands, Belgium, Spain, Ireland and the Czech Republic lagged somewhat behind, together comprising a further 28%.
Among the main consuming countries, Belgium, with a CAGR of +7.6%, saw the highest growth rate of market size over the period under review, while market for the other leaders experienced more modest paces of growth.
The countries with the highest levels of butter per capita consumption in 2024 were Denmark (21 kg per person), Ireland (13 kg per person) and France (7.5 kg per person).
From 2013 to 2024, the biggest increases were recorded for Spain (with a CAGR of +6.2%), while consumption for the other leaders experienced more modest paces of growth.
Production
European Union’s Production of Butter
In 2024, approx. 2.3M tons of butter were produced in the European Union; remaining constant against the previous year. The total output volume increased at an average annual rate of +1.4% from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 6.7% against the previous year. The volume of production peaked at 2.4M tons in 2020; however, from 2021 to 2024, production remained at a lower figure.
In value terms, butter production amounted to $13.7B in 2024 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 28%. Over the period under review, production hit record highs at $14.4B in 2022; however, from 2023 to 2024, production stood at a somewhat lower figure.
Production By Country
The countries with the highest volumes of production in 2024 were Germany (460K tons), France (412K tons) and Ireland (301K tons), together comprising 51% of total production. Poland, the Netherlands, Denmark and Belgium lagged somewhat behind, together accounting for a further 32%.
From 2013 to 2024, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Belgium (with a CAGR of +10.4%), while production for the other leaders experienced more modest paces of growth.
Imports
European Union’s Imports of Butter
In 2024, approx. 693K tons of butter were imported in the European Union; waning by -17.4% on 2023 figures. The total import volume increased at an average annual rate of +1.1% from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 8.6% against the previous year. Over the period under review, imports reached the maximum at 878K tons in 2021; however, from 2022 to 2024, imports stood at a somewhat lower figure.
In value terms, butter imports dropped slightly to $4.6B in 2024. Total imports indicated noticeable growth from 2013 to 2024: its value 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, imports decreased by -9.8% against 2022 indices. The growth pace was the most rapid in 2017 when imports increased by 55% against the previous year. The level of import peaked at $5.1B in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.
Imports By Country
In 2024, France (191K tons), distantly followed by the Netherlands (127K tons), Germany (96K tons), Belgium (60K tons) and Italy (36K tons) were the key importers of butter, together making up 74% of total imports. Spain (30K tons), the Czech Republic (24K tons), Romania (16K tons), Austria (13K tons) and Poland (12K tons) followed a long way behind the leaders.
From 2013 to 2024, the biggest increases were recorded for Romania (with a CAGR of +11.0%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest butter importing markets in the European Union were France ($1.3B), the Netherlands ($709M) and Germany ($644M), with a combined 58% share of total imports. Belgium, Italy, Spain, the Czech Republic, Romania, Austria and Poland lagged somewhat behind, together comprising a further 29%.
Romania, with a CAGR of +14.2%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices By Country
In 2024, the import price in the European Union amounted to $6,691 per ton, growing by 18% against the previous year. Import price indicated perceptible growth from 2013 to 2024: its price increased at an average annual rate of +3.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, butter import price increased by +66.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the import price increased by 52%. The level of import peaked in 2024 and is expected to retain growth in years to come.
Average prices varied somewhat amongst the major importing countries. In 2024, major importing countries recorded the following prices: in Poland ($7,222 per ton) and Austria ($7,217 per ton), while the Netherlands ($5,574 per ton) and Romania ($6,671 per ton) were amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by France (+3.4%), while the other leaders experienced more modest paces of growth.
Exports
European Union’s Exports of Butter
In 2024, butter exports in the European Union dropped to 977K tons, which is down by -11.1% on 2023. The total export volume increased at an average annual rate of +2.6% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when exports increased by 12% against the previous year. Over the period under review, the exports hit record highs at 1.1M tons in 2023, and then reduced in the following year.
In value terms, butter exports expanded sharply to $7.1B in 2024. In general, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 47% against the previous year. Over the period under review, the exports reached the maximum in 2024 and are likely to see steady growth in the immediate term.
Exports By Country
In 2024, the Netherlands (242K tons) and Ireland (242K tons) were the largest exporters of butter in the European Union, together achieving 50% of total exports. It was distantly followed by Germany (114K tons), Belgium (93K tons), France (91K tons), Denmark (58K tons) and Poland (52K tons), together generating a 42% share of total exports.
From 2013 to 2024, the biggest increases were recorded for Poland (with a CAGR of +5.1%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, Ireland ($1.8B), the Netherlands ($1.7B) and Germany ($804M) constituted the countries with the highest levels of exports in 2024, together comprising 60% of total exports. France, Belgium, Denmark and Poland lagged somewhat behind, together comprising a further 32%.
In terms of the main exporting countries, Poland, with a CAGR of +9.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices By Country
In 2024, the export price in the European Union amounted to $7,317 per ton, with an increase of 20% against the previous year. Export price indicated a noticeable expansion from 2013 to 2024: its price increased at an average annual rate of +3.4% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, butter export price increased by +72.9% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 50% against the previous year. The level of export peaked in 2024 and is expected to retain growth in the near future.
Average prices varied noticeably amongst the major exporting countries. In 2024, major exporting countries recorded the following prices: in France ($8,236 per ton) and Denmark ($7,499 per ton), while the Netherlands ($6,814 per ton) and Germany ($7,064 per ton) were amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Ireland (+4.3%), while the other leaders experienced more modest paces of growth.
