Butter Market Valuation to Reach USD 27,879.1 Million by 2027 at a CAGR of 4.52% - Report by Market Research Future (MRFR)

Butter Market Research Report Trends and Insights by Product Type (Standard Butter, Clarified Butter, Whipped Butter and others), Category (Salted and Unsalted), Form (Spreads, Liquid/Oil, Blocks and others), End-Use (Food Processing, {Bakery & Confectionery, Dairy & Frozen Desserts, Sauces, Dressings, & Spreads and others}, Foodservice and Food Retail) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Competitive Market Growth, Size, Share and Forecast to 2027

New York, New York, UNITED STATES

New York, US, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Butter Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), "Butter Market Information by Product Type, Category, Form, End-Use and Region - Forecast till 2027”, the market could reach USD 27,879.1 million by 2027 while thriving at a CAGR of nearly 4.52% between 2020 and 2027.

Market Synopsis

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 goods or snacks, such as cookies and wafers, can be flavored with butter.

Opportunities for butter developers will be in the form of accelerated millennial demand for distinctive taste profiles and textures. Additionally, as a result of busy lifestyles and higher costs associated with eating out, fast food consumption is rising in developing nations, which is driving up demand for butter in the food service sector.

The majority of the younger generation and people in the working class eat fast food at least once every day. Given that 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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Report Scope:

Report AttributeDetails
Market Size in 2027USD 27,879.1 Million
Base Year2019
Forecast Period2020-2027
Historical Data2018
Forecast UnitsValue (USD Million)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredBy Product Type, Category, Form, End-Use and Region
Geographies CoveredNorth America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Driversincreasing demand for butter in food processing
growth of the horeca industry

Market Competitive Landscape:

The affluent firms in the butter industry are

  • Ornua Co-operative Limited (Ireland)
  • Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF/Amul) (India)
  • Arla Foods amba (Denmark)
  • Dairy Farmers of America Inc. (the US)
  • Fonterra Co-operative Group (New Zealand)
  • Organic Valley (US)
  • Land O'Lakes Inc. (US)
  • Lactalis Group (France)
  • Royal FrieslandCampina N.V. (Netherlands)
  • Delta Nutritives (India)

October 2022

Miyoko's Creamery, a manufacturer of vegan dairy products, has announced the nationwide debut of their Organic Cultured Oat Milk Butter in US Walmart stores. The product, dubbed the "world's greatest" cultured oat butter, is created using coconut oil, whole-grain oat milk, and sunflower oil. The brand claims that the 12 oz. butter is an easy-to-use, allergen-friendly spread because it contains no gluten, lactose, soy, cashews, or palm oil. Additionally, the butter is manufactured without artificial dyes or preservatives and is USDA Certified Organic.

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Market USP Covered:

Market Drivers:

The booming sales of chocolates and various bakery products are some of the key growth boosters in the global market. Increasing use of butter in place of edible vegetable oils and fat in a variety of food products will also favor the market in the ensuing years. Confectionery and bakery product manufacturers are increasingly using various types of plant-based butter, given the escalating preference for natural and organic products among consumers.

Exhaustive R&D activities conducted by major brands to come up with more appealing and tasty butter-based products are helping draw in a greater number of consumers, which can be quite favorable for the global industry. Apart from this, supportive government policies in Europe as well as guidelines that encourage the use of naturally derived ingredients in products could create an optimistic outlook for the butter market over the coming years.

The expansion of the market is further bolstered by technological innovations and advancements like the Internet of Things (IoT) in the transportation of butter and other milk products to ensure safe handling. However, in the United States, governmental organizations like the Food and Drug Administration (FDA) and the U.S. Department of Agriculture (USDA) have adopted numerous federal laws and recommendations for producers of butter and associated products. Federal regulations and published recommendations guarantee that dairy products meet hygienic standards for consumption.

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Market Restraints:

People's growing health consciousness may be limiting the expansion of the global market. Many people nowadays are making changes to their eating and lives in order to prioritize their health. Due to the benefits of the nutrients, consumers are maintaining their dietary restrictions. This indicates that consumers have curtailed their consumption of butter products because doing so is bad for their health. It might limit the size of the world market.

As a result, the butter industry is concentrating on producing items with lower calorie and saturated fat content, which can accelerate the market expansion rate in the near future.

COVID 19 Analysis

Butter is one of the various markets worldwide that has been impacted by the COVID-19 pandemic. The butter sales had decreased by 2020. As a result, the butter producers were compelled to implement a number of strategies and plans in order to meet their previous demands and accelerate their global expansion. The food industry has put greater effort into raising practices and sales among the populations they are targeting in all locations.

Following the COVID-19 outbreak, the butter market is experiencing huge 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 devised a few tactics. The butter industry has accelerated as a result, creating numerous chances for its production and sales.

Market Segmentation

By Product

Standard Butter, Whipped Butter, Clarified Butter, and others are the top product types studied in the report.

By Category

Butter falls under two major categories, namely salted as well as 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 Insights

Asia Pacific, with the biggest share of 49.80% captured in 2018, is zooming ahead relentlessly on account of the escalating consumption of butter in the region. India is the market leader in Asia Pacific, with the country anticipated to thrive at a rate of 2.26% between 2020 and 2027. The APAC market benefits largely from the large-scale production of butter backed by the abundance of raw materials found in the region and also due to the availability of cheaper labor. The growing consumption of bakery products and chocolates containing butter also enhances the market size in the region. The surging popularity of social networking sites and the expanding middle-class population with rising interest in online shopping can further foster the business growth.

Europe is touted to be one of the most lucrative markets for butter, given the massive consumer demand for confectionary and baked products. The thriving food and beverage industry in the region also plays a significant role in the industry growth. Also, the strong network established by confectionery firms in the region including Nestlé SA, the Ferrero Group, Pladis and Chocoladenfabriken Lindt & Sprüngli AG should favor the business in the ensuing years.

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