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Export News
31-07-2024
Global dairy trade plays a pivotal role in meeting the worldwide demand for
dairy products. From milk and cheese to yogurt and butter, dairy is a staple in
many diets around the world. In 2023, the global dairy trade was valued at
$2,161.7 billion, with dairy exports accounting for $1,072.0 billion and imports
totaling $1,089.7 billion. In the first quarter of 2024, Germany emerged as the
largest importer and exporter of dairy products, with imports valued at $3.21
billion and exports at $3.57 billion. The global dairy trade is a
multi-billion-dollar industry involving the exchange of various dairy products.
The current compound annual growth rate (CAGR) of the global dairy sector is
7.8%. By 2027, the global market is expected to grow at a CAGR of 6.9%, reaching
$13,291.5 billion. Countries around the world rely on each other to meet their
dairy needs. Dairy products fall under the HS Code 04. This article will explore
the main importers and exporters of dairy, highlighting key industry players and
trends impacting the dairy market.
Key Trends in Global Dairy Trade
· Total Dairy Exports: In 2023, global dairy exports were valued at $1,072 billion.
· Total Dairy Imports: In 2023, global dairy imports amounted to $1,089.7 billion.
· Market Share: The global dairy market holds a 7.8% share of the total global market.
· Global Ranking: In 2023, dairy products were the 37th largest export commodity and the 36th largest import commodity.
· Top Importing and Exporting Country: Germany is the world's largest importer and exporter of dairy products.
· Regional Breakdown of Dairy Trade: In 2024, the European Union accounted for 36% of the global dairy market value, while Oceania held a 27% market share.
Major Exported and Demanded Dairy Products Globally
According to the latest dairy export statistics for 2023, the primary dairy products exported worldwide include:
- Cheese and Curd: $41.86 billion (HS Code 0406)
- Milk and Cream: $21.02 billion (HS Code 0402)
- Butter (including dehydrated butter and ghee): $11.43 billion (HS Code 0405)
- Milk and Cream (not concentrated and unsweetened): $11.07 billion (HS Code 0401)
- Birds' Eggs, in Shell, Fresh, Preserved, or Cooked: $5.53 billion (HS Code 0407)
- Buttermilk, Curdled Milk, Cream, Yogurt: $5.14 billion (HS Code 0403)
- Whey: $5.09 billion (HS Code 0404)
- Natural Honey: $2.12 billion (HS Code 0409)
- Birds' Eggs, Not in Shell, Fresh, Cooked, or Steamed: $1.90 billion (HS Code 0408)
- Insects, Turtle Eggs, Bird Nests, and Other Edible Animal Products: $1.10 billion (HS Code 0410)
Leading Dairy Exporters Worldwide
In 2023, the total value of dairy exports was $1,072 billion, a decrease of $6.9 billion from the previous year. Germany was the top dairy exporter, with exports valued at $13.54 billion in 2023 and $3.57 billion in the first quarter of 2024. The top 10 dairy exporting countries in 2023 were:
1. Germany: $13.54 billion
2. Netherlands: $12.92 billion
3. New Zealand: $12.2 billion
4. France: $8.55 billion
5. United States: $6.66 billion
6. Italy: $6.13 billion
7. Belgium: $5.81 billion
8. Ireland: $4.35 billion
9. Poland: $3.8 billion
10. Denmark: $3.28 billion
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