- Report ID: BMRC 1396 | Number of pages: 200 | Publish Date: Jan 2021
Status: Published | Category: Food And Beverage | Delivery Timeline:
Butter Market is valued at USD 52613.04 Million in 2020 and expected to reach USD 66532.09 Million by 2027 with the CAGR of 3.41% over the forecast period.
Global Butter Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- The major factors driving the growth of butter market are increasing disposable income, change in consumer preferences and the growing food industry.
Butter is solid dairy product made by mixing fresh or fermented cream or milk, to separate the butterfat from the buttermilk. Butter is rich in nutrients and favorable compounds like butyrate and conjugated linoleic acid. High-fat dairy foods like butter have been linked to a reduced risk of obesity, diabetes and heart problems. It is mostly used as a spread on plain or toasted bread products and a condiment on cooked vegetables as well as in cooking such as baking, sauce making and pan frying. Most frequently made from cow’s m, butter can also be manufactured from the milk of other animals including sheep, goats, buffalo, and yaks. It is a vital edible fat in northern Europe, North America and other places where cattle are the primary dairy animals. Cultured butter claims a full and rich flavor with a clean finish. It is more stable than regular butter because the sourness that results from the fermentation proves cuts through the rich creaminess. Consequently, it should be lighter than standard butter and there should be no aftertaste. Uncultured butter prepared from fresh, pasteurized cream is commonly referred to as sweet cream butter, which was named after the advent of refrigeration to distinguish it from butter made with soured cream. It is the most common style in North America.
Global Butter Market report is segmented on the basis of product type, application and region & country level. Based upon product type, global butter market is classified as salted butter and unsalted butter. Based upon application, global butter market is classified into retail, food service and food processing.
The regions covered in this Global Butter market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Butter is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Butter market Report covers prominent players are like 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, Rochefort and others.
Upfield Introduced Flora Plant Butter in US under Its New Plant-Based Brand
May 9th, 2018; Upfield Group, producer of plant-based spreads and butters, has debuted a new plant butter brand with the launch of Flora Plant Butter in the United States. Flora Plant Butter is a vegan, dairy-free, gluten-free and non-GMO plant butter with a rich and creamy taste, according to the company. The launch comes as demand for more plant-based products is raising with many industry players shifting their focus or including plant-based offerings in their portfolios.
The major factors driving the growth of the global butter market are increasing disposable income, change in consumer preferences and the growing food industry. Increasing demand for butter is the major factor driving the growth of the butter market. Increase in disposable income has improved the purchasing power of consumers globally and this will facilitate the growth in butter supply in the global market. Higher disposable income leads to a protein-rich diet.
Consumption of milk products such as cheese, butter, ice-cream, flavored milk, etc. are highly correlated with the level of earning and this is true in the case of rural area. Disposable Personal Income in India increased to 206752290 INR Million in 2019 from 192817450 INR Million in 2018, according to trading economy. In addition, change in consumer preferences and the growing food industry are also fostering the global butter industry growth. The biggest trend driving change in the food and beverage industry right now is transparency. Consumers want to know and understand what ingredients are going into their products, which is why they are seeing so many innovative products with shorter ingredient lists that can pronounce. Consumers are seeking simplicity in addition to better quality foods. Butter with specific technological properties is suitable for meeting the requirements of the food industry.
Furthermore, Butter has widespread applications in the food processing industry, especially bakery and confectionery. According to Food Industry Statistics 2020, the fast food industry revenue in the US alone makes about USD110 billion annually. However, accessibility of healthy alternatives to butter, such as margarine, along with government regulations in the production and distribution of butter may restrain the market growth. In spite of that, new product innovation and rising health consumer consciousness and growing demand in developing countries can be considered as an opportunity the further growth of the market.
North America is expected to dominating the global butter market due to the increasing demand for butter in food processing in this region. Demand for salted butter is increasing due to its longer shelf life as compared to unsalted butter and changing eating habits of most of the individuals. Butter is used in various applications including food service and food processing. In 2018, the U.S. food and beverage industrial sector employed more than 1.7 million people or just over 1 percent of all U.S. nonfarm employment, according to economic research service. China’s butter is consumed almost entirely by the baking and HRI industries. As China’s baking industry has boomed, the better production of western-style pastries has driven demand for butter. European butter exports shrunk for the second successive year on strong internal demand Global butter exports expanded by 7.5 percent to 917 920 tons in 2018, mainly contributed by New Zealand, the United States of America and India, but those of the European Union decayed. Global butter markets were tight in the first half of the year due to reduced export availabilities on strong internal demand in Europe and North America, coinciding with limited supplies from Oceania.
|Years :||2019||Market Size in 2019:||US$ 50878.1 Million|
|Market Historical Analysis:||2015-2019||Forecast Analysis:||2020-2026|
|Forecast Period CAGR %:||6.5%||Market Size Expected to reach in 2026:||US$ 64338.2 Million|
|Pages:||200||Tables, Charts & Figures:||169|
|Top Companies:||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, Rochefort|
|Market Segmentation:||Product Type, Application|
|Regional Analysis:||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
Key Benefits for Global Butter market Report–
By Product Type:
By Regional & Country Analysis:
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Butter Market Size By Product Type (Plain, Barbecue, Sour Cream and Onion, Salt and Vinegar, Others), By Application (Supermarket/Hypermarket, Independent Retailer, Other) Forecast 2021 to 2027