Uncovering the Secrets of the Global Butter Market: Value of US$ 50.19 Billion by 2028 Says Brandessence Market Research

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Brandessence Market Research And Consulting Private Limited

Feb 02, 2023, 09:28 ET

LONDON, Feb. 2, 2023 /PRNewswire/ -- The Global Butter Market was worth USD 37.63 billion in 2021. Due to the emergence of various expansion propellants, the industry is anticipated to amass a valuation of USD 50.19 billion by 2028, registering a CAGR of 4.20% over the forecast duration of 2022-2029.

Butter is referred to as a type of dairy based product that is produced by whisking cream from cow's milk. Proteins and fats-based components of milk are processed to form butter. It is semi solid in nature when stored at room temperature. It has a rich nutritional profile and contains components such as conjugated linoleic acid and butyrate.       

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Global Butter Market Outlook (2022-2029)

The changing dietary trends of the masses, numerous health benefits associated with butter consumption, and growing income levels of individuals are primarily augmenting the outlook of this business sphere.

Alongside, escalating demand for dairy products, rising popularity of processed food, along with the booming food & beverages sector are creating lucrative opportunities for this marketplace to prosper.

Furthermore, rising health cognizance of the masses, technological advancements in the food processing sector, and surge in the number of food joints across the globe are adding momentum to the progression  of Global Butter Market.

On the flipside, availability of lactose free alternatives and rising concerns about the health risks associated with excessive butter consumption are hindering the remuneration scope of this marketplace.

The sudden outbreak of the COVID-19 pandemic had an adverse impact on the progression of this industry vertical. Manufacturing facilities, food joints, and other commercial entities were also dysfunctional in the wake of the stringent lockdowns announced by governments of various nations. Dearth of adequate raw materials, disruption in the supply chain network, and lack of workforce further impacted the production and sales of butter and related products.

Competitive Hierarchy

The prominent players characterizing the competitive terrain of Global Butter Market are Fonterra, Ornua, Kalona SuperNatural, Dairy Farmers of America, MS Iceland Dairies, Bertolli, Cabot, Yeo Valley Farms, Clover Stornetta Farms, Arla Foods, Amul, Land O Lakes, Organic Valley, Horizon Organic, Tillamook, Devondale Murray Goulburn, WCB, President Cheese, and Rochefort.

These aforementioned companies are  trying to get a strong grip over the global market. They are curating robust business strategies to meet their growth goals. These players are participating Mergers & acquisitions, collaborations, R&D investments, partnerships, and products launches, among others.

Segmental Outlook

By Product Type:

  • Plain
  • Barbecue
  • Sour Cream and Onion
  • Salt and Vinegar
  • Others

 By Application:

  • Supermarket/Hypermarket
  • Independent Retailer
  • Other

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Region-Wise Outlook

Which is the leading region in the Global Butter Market?

North America is anticipated to lead the market in terms of volume share over 2022-2029. This is attributable to the booming food & beverage industry, rising per capita income levels, escalating demand for protein rich consumables, along with technological advancements in the food processing sector.

How is Asia Pacific faring in this industry vertical?

Asia Pacific is slated to amass notable gains over the forecast duration. This is ascribed to the widespread economic developments, rising usage of butter as food spreads, increasing number of food joints, along with surging health and fitness consciousness among the citizens.

Category-Wise Insights

Which is the fastest growing product segment in this industry?

The plain butter segment has emerged as one of the fastest growing market segments during the estimated timeline since it has a neutral flavor and does not contain any artificial additives.

Which application segment is projected to showcase remarkable expansion trends?

The supermarket/hypermarket segment is reckoned to generate substantial revenue over the assessment timeline. People are easily buy butter and related products in supermarkets or hypermarkets at an affordable rate.

Comparing the historical outlook and ongoing trends of this market

This market has been exhibiting remarkable growth trends over the assessment timeline of 2022-2029.

Butter is one of the prime ingredients required in the manufacturing of confectionary and bakery items. Chocolates, cakes, biscuits, ready to eat meals, ice-creams, and breads among others have butter as one of their primary constituents. With increasing income levels and changing dietary trends, there has been an escalating demand for bakery and confectionary items. Also, due to hectic lifestyle, people have shifted their  inclination towards the consumption of convenience food. These factors together are stimulating the overall dynamics of this industry vertical over the forecast duration.

There has been an elevating demand for organic butter across the globe. Due to rising health and environment cognizance, people are opting for organic consumables that do not contain any sort of artificial or synthetic additives. It is evident that food products that are integrated with synthetic ingredients including additives are hazardous for human health as well as for the environment. Manufacturers are taking extensive efforts  to create organic butter brands to cater to the requirements  of the health cognizance masses. This in turn is adding traction to the development of this business sphere.

On Special Requirement Butter Market Report is also available for below region:

North America

  • U.S, Canada

Europe

  • Germany, France, U.K., Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

  • South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

  • Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

Major Developments

In March 2021, Arla Foods launched its light butter range in the U.K. with an aim to diversify the product portfolio of its Lupak Lighter brand.

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SOURCE Brandessence Market Research And Consulting Private Limited

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