Butter Market to Grow with a CAGR of 3.1% Globally through 2028
Rising consumer preference for natural and minimally
processed foods and expansion of food service industry are driving the Global
Butter Market in the forecast period 2024-2028.
According to TechSci Research report, “Global Butter
Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Butter Market stood at USD 53.65 Billion
in 2022 and is anticipated to grow with a CAGR of 3.1% in the forecast period,
2024-2028. The global butter market is a dynamic and ever-evolving sector of
the dairy industry, characterized by a rich history and a versatile range of
products. Butter has long been a dietary staple worldwide, cherished for its
culinary uses, flavor-enhancing properties, and as a key ingredient in various
cuisines. In this overview, we will explore the current state of the global
butter market, its key characteristics, and the factors shaping its trajectory.
Butter holds a unique place in culinary traditions and cultures around the
world. Its origins can be traced back thousands of years, with historical
records documenting its use in ancient societies. The production of butter
involves churning cream to separate the milk fats, creating a creamy, high-fat
product that serves a multitude of purposes in cooking and baking. It imparts
rich, creamy flavors to dishes, enhances textures, and is essential in many
pastry recipes. The cultural significance of butter varies from country to
country, with notable variations such as clarified butter (ghee) in India and
compound butters in Western cuisines. Butter has remained an essential
ingredient in many Western diets, from morning toast to gourmet cooking, and
continues to be a favorite in households globally.
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In recent years, the global butter market has
experienced a resurgence in popularity, driven by a combination of factors. One
of the key drivers is the increasing preference for natural and minimally
processed foods. Butter, as a dairy product, has benefitted from a shifting
perception of dairy fats, as research has suggested that they may offer health
benefits when consumed in moderation. This shift has led to a growing demand
for butter as a more natural and less processed alternative to margarine and
other spreads. Butter's versatility also plays a significant role in its
sustained popularity. It is a fundamental ingredient in various culinary and
baking applications, adding depth of flavor and richness to a wide range of
dishes. From classic pastries and sauces to emerging culinary trends, butter
continues to find its place in modern kitchens. The rise of food television and
social media has further elevated butter's status, as consumers experiment with
cooking and baking at home, creating a demand for high-quality butter products.
The global butter market has had to address health
concerns related to saturated fat content. While it was once heavily criticized
for its high saturated fat levels, research has increasingly suggested that
dairy fats, when consumed in moderation, may not be as detrimental to health as
once believed. This has shifted consumer perceptions and made butter a more
acceptable choice for those concerned about their dietary fat intake.
Manufacturers have responded by promoting butter as a natural and minimally processed
food, with some even offering premium variations like organic and grass-fed
options to cater to health-conscious consumers.
The consumption of butter exhibits regional variation,
influenced by culinary traditions and dietary habits. In Western countries,
butter is deeply ingrained in the culinary culture and remains a staple in
daily life. In contrast, some Asian and Middle Eastern cuisines have
historically favored other cooking fats like ghee or olive oil. However,
globalized food trends and evolving tastes have led to a more widespread use of
butter in various cuisines worldwide. Additionally, the globalization of food
culture and rising disposable incomes in emerging markets have contributed to
the increasing demand for butter in non-traditional regions.
While the global butter market shows promising growth,
it faces certain challenges, such as competition from butter substitutes,
fluctuating dairy prices, supply chain disruptions, regulatory and labeling
requirements that vary by region, and mounting environmental and sustainability
concerns. To thrive in this dynamic landscape, the industry must adapt to these
challenges, innovate to meet evolving consumer preferences, and emphasize
product quality, transparency, and sustainability. As butter continues to enjoy
a renaissance in culinary trends and consumer perception, the global market is
expected to remain vibrant and full of opportunities for growth and
diversification.
The Global Butter Market is segmented into type, sales
channel, regional distribution, and company. Based on type the market is
segmented into cultured butter, uncultured butter, and others. The Global
Butter Market has witnessed a notable surge in the demand for cultured butter,
often referred to as European-style butter. This surge is fueled by evolving
consumer palates that appreciate its distinct, rich flavor profile and creamy
texture. Produced through a fermentation process involving live bacteria
cultures, cultured butter's tangy and nutty taste has garnered favor among
those seeking exceptional culinary experiences. The rising demand for cultured
butter is not only a testament to changing consumer preferences but also an
opportunity for producers to cater to discerning tastes. Based on sales channel
the market is segmented into hypermarkets/supermarkets, convenience stores,
online, others. Based on region the market is segmented into five regions,
North America, Europe, Asia Pacific, Middle East & Africa, and South
America.
Major companies operating in Global Butter Market
are:
- Lactalis International
- Fonterra Co-operative Group
- Ornua Co-operative Limited
- Organic Valley
- Dairy Farmers of America, Inc.
- Amul Dairy
- Meadow Foods Ltd.
- Arla Foods
- MS Iceland Dairies
- Muller
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“Surging demand for specialty and artisanal butter
varieties is a significant trend that is expected to have an impact on growth
over the forecasted period. Rising consumer preference for natural and
minimally processed foods, and expansion of food service industry will positively
impact the Global Butter Market. Due to the wide range of products available to
meet specific needs of, as well as the growing popularity of the online sales
channel, the market is growing at impressive rate through projected period,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Butter
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Type (Cultured Butter, Uncultured Butter, Others), By Sales
Channel (Hypermarkets/Supermarkets, Convenience Stores, Online, Others), By
Region, By Competition, 2018-2028”, has evaluated the future growth
potential of Global Butter Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Butter
Market.
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