New York, USA, December 6, 2022 (GLOBE NEWSWIRE) — Butter Market Overview
According to a comprehensive research report from Market Research Future (MRFR), “butter market Information by product type, category, form, end use and region – Forecast to 2027“, the The market could reach $27,879.1 million by 2027 while thriving at a CAGR of almost 4.52% between 2020 and 2027.
Market Overview
Butter is frequently used in the culinary business to create a variety of food products, as well as for frying and preparing sauces. Various packaged products or snacks, such as cookies and wafers, can be flavored with butter.
Opportunities for butter developers will come in the form of accelerating millennial demand for distinctive flavor profiles and textures. Additionally, as a result of busy lifestyles and higher costs associated with eating out, fast food consumption is increasing in developing countries, which is driving demand for butter in the food service sector.
Most of the younger generation and working class people eat fast food at least once a day. Since butter is frequently used for frying and flavoring a variety of fast food products, this trend will benefit the global industry.
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Scope of the report:
| report attribute | Details |
| Market size in 2027 | USD 27,879.1 million |
| CAGR | 4.52% |
| base year | 2019 |
| forecast period | 2020-2027 |
| Historic information | 2018 |
| forecast units | Value (millions of USD) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| segments covered | By product type, category, form, end use and region |
| Geographies covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | increased demand for butter in food processing |
| growth of the hospitality industry |
Market Competitive Landscape:
Prosperous businesses in the butter industry are
- Ornua Cooperative Limited (Ireland)
- Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF/Amul) (India)
- Arla Foods amba (Denmark)
- Dairy Farmers of America Inc. (USA)
- Fonterra Cooperative Group (New Zealand)
- Organic Valley (USA)
- Land O’Lakes Inc. (USA)
- Lactalis Group (France)
- Royal FrieslandCampina NV (The Netherlands)
- Delta Nutritives (India)
October 2022
Miyoko’s Creamery, a maker of vegan dairy products, has announced the national debut of its Organic Cultured Oat Milk Butter in US Walmart stores. The product, dubbed the “world’s largest” cultured oat butter , is created with coconut oil, whole oat milk and sunflower oil. The brand claims that the 12 oz. Butter is an easy-to-use, allergen-friendly spread because it is free of gluten, lactose, soy, cashews, and palm oil. Plus, the butter is made without artificial colors or preservatives and is USDA certified organic.
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Covered USP Market:
Market indicators:
The boom in sales of chocolates and various bakery products are some of the main drivers of growth in the global market. The increased use of butter instead of edible vegetable oils and fats in a variety of food products will also favor the market in the coming years. Manufacturers of bakery and confectionery products are increasingly using various types of plant-based butter, given the growing preference for natural and organic products among consumers.
Extensive R&D by major brands to create more appealing and tasty butter-based products is helping to attract more consumers, which can be very beneficial for the global industry. Apart from this, supportive government policies in Europe, as well as guidelines encouraging the use of naturally-derived ingredients in products, could create an optimistic outlook for the butter market in the coming years.
Market expansion is being bolstered by technological innovations and advances such as the Internet of Things (IoT) in transporting butter and other dairy products to ensure safe handling. However, in the United States, government organizations such as the Food and Drug Administration (FDA) and the United States Department of Agriculture (USDA) have adopted numerous federal laws and recommendations for producers of butter and associated products. Federal regulations and published recommendations ensure that dairy products meet hygiene standards for consumption.
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Market restrictions:
The growing awareness of people’s health may be limiting the expansion of the global market. Many people today are making changes in their diet and in their lives to prioritize their health. Due to the benefits of the nutrients, consumers maintain their dietary restrictions. This indicates that consumers have reduced their consumption of butter products because doing so is bad for their health. It could limit the size of the world market.
As a result, the butter industry is concentrating on producing items that are lower in calories and saturated fat, which may accelerate the rate of market expansion in the near future.
COVID-19 analysis
Butter is one of several markets around the world that has been affected by the COVID-19 pandemic. Butter sales had declined in 2020. As a result, butter producers were forced to implement a series of strategies and plans to meet their previous demands and accelerate their global expansion. The food industry has put more effort into increasing practices and sales among target populations in all locations.
Following the COVID-19 outbreak, the butter market is experiencing tremendous growth in its production and supply networks. To combat the pandemic crisis and boost the expansion of the butter market, the government and important stakeholders have come up with some tactics. As a result, the butter industry has accelerated, creating numerous opportunities for butter production and sales.
Market segmentation
by product
Standard butter, whipped butter, clarified butter and others are the main types of products studied in the report.
By category
Butter falls into two main categories, namely salted and unsalted.
By end user
Food Processing {Dairy & Frozen Desserts, Bakery & Confectionery, Dressings & Spreads, Sauces, and others}, along with Food Retail and Foodservice are the end users of butter considered in the research report.
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regional perspectives
Asia Pacific, with the largest share of 49.80% caught in 2018, is advancing relentlessly on rising butter consumption in the region. India is the market leader in Asia Pacific, with the country projected to prosper at a rate of 2.26% between 2020 and 2027. The APAC market greatly benefits from large-scale production of butter backed by abundance raw materials found in the region. and also due to the availability of cheaper labor. The growing consumption of bakery products and butter chocolates also increases the size of the market in the region. The increasing popularity of social networking sites and the growing middle-class population with a growing interest in online shopping can further encourage business growth.
Europe is touted as one of the most lucrative markets for butter, given massive consumer demand for confectionery and baked goods. The thriving food and beverage industry in the region also plays an important role in the growth of the industry. In addition, the strong network established by confectionery companies in the region, including Nestlé SA, the Ferrero Group, Pladis and Chocoladenfabriken Lindt & Sprüngli AG, should favor business in the coming years.
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