About Butter-
Butter is a dairy product crafted from the fat and protein constituents of milk or cream. It is widely utilized as a spread for bread, toast, and various baked goods. Additionally, it serves as a fundamental ingredient in both cooking and baking.The butter market is experiencing robust growth driven by several factors. The increasing demand for natural and minimally processed food items, coupled with a rising consumer preference for decadent flavors, contributes significantly to the market's momentum. Butter's adaptability in both traditional and innovative culinary applications further propels its popularity. The market benefits from a heightened emphasis on quality and premium products, aligning with the resurgence of interest in traditional and artisanal foods. Despite these positive drivers, challenges such as raw material price fluctuations, concerns about saturated fats, and competition from plant-based alternatives present hurdles. Noteworthy trends encompass the introduction of specialty and flavored butter variants, ongoing product innovations to meet health-conscious consumer needs, and the widening of distribution channels.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global butter market is fragmented, with many local and international competitors striving for market dominance, and product innovation is a key strategic stance taken by the major players. In addition, collaborations with other businesses and mergers, expansions, and acquisitions are frequently used tactics to strengthen a company's position and expand its market. Fonterra Co-operative Group, Arla Foods Amba. Analyst at AMA Research estimates that france Vendors will contribute the maximum growth to Global Butter- market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Fonterra Co-operative Group (New Zealand), Arla Foods Amba (Denmark), Ornua Co-operative Ltd (Ireland), Land O' Lakes, Inc. (United States), CROPP Cooperative (Organic Valley) (United States), America Inc. (America), Gujarat Co-operative Milk Marketing Federation Ltd (India), EATNUF (Ireland), Anchor Fonterra (New Zealand), CavinKare (India), Lactalis International (France) and Danone SA (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Amul (India), Hatsun (India), Arla Foods (Denmark), OLAM (Singapore) and Galactika Group (India).
Segmentation Overview
AMA Research has segmented the market of Global Butter- market by Type (Cultured Butter, Uncultured Butter, Salted Butter, Whipped Butter and Others), Application (Commercial, Household and Others) and Region.
On the basis of geography, the market of Butter- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End- Use, the sub-segment i.e. Food Processing will boost the Butter- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Supermarket/Hypermarket will boost the Butter- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction of specialty and flavored butters and Product innovations to cater to health-conscious consumers
Market Growth Drivers:
Growing demand for natural and minimally processed food products and Consumer preference for rich and indulgent flavors
Challenges:
Concerns over saturated fats
Restraints:
Price fluctuations in raw materials
Opportunities:
Exploration of emerging markets and Development of functional butter varieties
Market Leaders and their expansionary development strategies
In October 2022, AAK Foodservice successfully acquired the plant-based butter brand ForA in a transaction of undisclosed value. ForA: Butter, crafted with a blend of cocoa butter, coconut oil, and coconut cream, has been designed to replicate the performance of dairy butter in both baking and cooking applications, as highlighted by the company.
.In June 2022, Land O'Lakes, Inc. introduced a novel twist to the traditional butter experience with the debut of Land O Lakes Butter Balls – a revolutionary half-tablespoon-sized butter offering tailored for everyday cooking. This innovative product, designed in response to the surge in home cooking activities during the pandemic, provides Land O Lakes Butter in a convenient, pre-portioned format. The introduction of these first-of-its-kind butter balls to retail shelves aims to simplify the cooking process, catering to the needs of consumers who seek ease and precision in their culinary endeavors.
Key Target Audience
Manufactures, Raw material Suppliers, Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.