Butter Market Growth and Forecast to 2025

Market overview:

The global Butter Market was at USD 18.4 billion in 2019 and is projected to reach a valuation of USD 27.8 billion by the end of 2025 at a CAGR of 3.9% during the outlook period.

Butter is a dairy product made from milk or cream. It is a semi-solid emulsion processed with the fat and protein content of milk. Butter is an essential ingredient in baked goods. Over the years, butter has become a staple in every household due to its nutritional value and the growing demand for prepared foods.

Recent developments:

• In February 2019, Graham's Family Dairy signed a five-year partnership with Aldi. This partnership is expected to help the company sell consumer goods such as butter, cheese and milk in Scotland.

Market Drivers and Restraints:

The increase in income has improved the purchasing power of consumers around the world, which will drive the growth of the supply of butter in the world market. Additionally, changes in consumer lifestyles are another driving force in the industry. To save time after a busy day, consumers often look for foods that require little time to prepare. Furthermore, the growth of the foodservice industry is accelerating the growth of the butter market. Since butter is one of the key ingredients in the food industries, the market is driven by the growing demand for bakery and confectionery. Promotional campaigns that support the use of natural products have helped the sales. Since salted butter or table butter cannot be used in the food processing industry due to its high salt content, food processing companies are increasing sales of unsalted butter by incorporating it into their food. The high demand for buttered sandwiches and cookies is increasing the demand for white or unsalted butter in the food processing industry. Increased investment in R&D to launch innovative products is expected to create lucrative opportunities for players operating in the global market.

However, growing health awareness and increasing demand for vegan and plant-based butter are hampering market growth. Furthermore, strict government regulations, such as labeling, licensing and many other regulations for the manufacturing and marketing of food products are expected to hamper the growth of the industry.

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Report is segmented as:

The worldwide butter market has been segmented according to type and distribution channel. By type, the market is segmented into non-cultured butter, cultured butter, etc. In terms of distribution channels, the market has been segmented into convenience stores, supermarkets/hypermarkets, online retail stores, specialized stores, etc.

Geographical Segmentation:

Asia Pacific is expected to be dominating the butter market during the forecast period, and the region accounted for 49.80% of the market share in 2019. India is a major contributor to the growth of the Asia Pacific market. The market in this region is expected to record a significant CAGR of 2.26% during the forecast period 2020-2025. Market growth in the Asia Pacific region can also be attributed to the surge in the chocolate industry in the area. Butter is a key ingredient in the chocolate industry, so the growth of the chocolate industry is driving the growth of the region's butter market. In addition, the European market occupies an important part of the global butter market due to the expansion of the HoReCa industry. The growing awareness of consumer health is prompting market participants to focus on R&D activities to launch new healthy butters in the European market.

Key market players:

Key players in the market include Farmers' Cooperative Creamery, Arla Foods, OJSC Creative Group, Deam Foods Company, AMUL India, Kraft Foods, and Friesland Campina.

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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