Market Highlights
Market Research Future (MRFR) studied the global butter market 2020 through the analysis period till 2027. The global butter market is likely to rise at 4.52% CAGR in the forecast tenure. The butter market value is expected to touch 27,879.1 million by 2027. The growing demand for high-fat dairy product, butter, in the high-stake bakery sector is expected to promote the butter market. The rise sales of butter due to their application in the growing hotels/restaurants/cafes (HoReCa) industry can support the butter market growth. However, increase in vegan and plant-based butter can hamper the butter market upsurge. The rise in funding for RD for innovation is observed to create lucrative opportunities for new marketers in the coming years, thus can counter the market slow-down.
Key Players
Market Research Future studied some reputed players in the global butter market to gain in-depth understanding of the market. Arla Foods amba (Denmark), Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF/Amul) (India), Land O'Lakes, Inc. (US), Royal FrieslandCampina N.V. (Netherlands), Lactalis Group (France), Ornua Co-operative Limited (Ireland), Dairy Farmers of America, Inc. (US), Organic Valley (US), Delta Nutritives (India), and Fonterra Co-operative Group (New Zealand) are renowned companies that are analyzed by MRFR.
Segmental Analysis
The segment assessment of the global butter market are product Type, End Use, Category, and Form.
The product type-based segments of the butter market are standard butter, whipped butter, and clarified butter among others. The standard butter segment is likely to hold decent market share by end of the study period. The whipped butter segment is anticipated to register 2.57% CAGR across the study period due to the easy spread-ability of whipped butter that other standard butter. Moreover, the growing preference for whipped butter due to its fewer calories and fat content and its large-scale baking applications can also add to the market expansion.
The category-based segments of the butter market are unsalted and salted. The salted segment is likely to hold the maximum market share of the global market. The unsalted segment is expected to thrive at the highest CAGR in the analysis term. Unsalted butter is the purest form of butter with no-added salt that has brilliant sweet taste but lower shelf life over salted butter that can impact sales of the salted segment.
The form-based segments of the butter market are spreads, blocks, and liquid/oil among others. The blocks segment can acquire substantial share of the global market in the years to come. MRFR analysis reveals that the spreads segment is anticipated to register about 2.54% CAGR in the forecast tenure. Spreads have decent oil content to make it spread better on the applied surface. Canola oil is the widely used oil added to the butter that prevents hardening of butter. These can boost sales of spreads and most of the retail brands offer butter as spreads that can also impact the market expansion in the review period. Extra-virgin olive, grape seed, flaxseed, and hemp seed oils are also used in these spreads that adds flavor to the butter and has a different consumer base.
The end use-based segments of the global butter market are food processing, food retail, and foodservice. The food processing segment studies dairy frozen desserts, bakery confectionery, sauces, spreads, and dressings among others. The food retail segment can hold the largest share of the global market by 2026. The food retail segment studies non-store-based and store-based retail sales of butter. The store-based retail segment is expected to support the market due to the high sales of butter through brick supermarkets, convenience stores, hypermarkets, and specialty stores. The non-store-based retail sector is expected to favor sales of butter through the growing e-commerce platforms. This can support expansion of the market in the years to come.
Regional Analysis
The regional progress of the butter industry reveals that the Asia Pacific can dominate the worldwide market. The availability of firm dairy base, affordability of raw materials, and presence of effective machineries can favor the regional market in the study period. accounting for the largest share in 2018. Buter market in Asia Pacific can acquire 49.80% share of the global market and is likely to thrive at 2.26% CAGR by 2025. MRFR study reveals that the butter market in North America is anticipated to register 2.67% CAGR in the analysis period. In Europe, the rise in RD activities to deliver new healthy butter-based products can prompt the market rose
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