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Butter Market Growth Trends 2021

Butter consumption is driven by increased demand for confectionery and baked goods, which is one of the major factors driving the global butter market. Urbanization and Western influences on cooking methods are other factors driving market growth<br>

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Butter Market Growth Trends 2021

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  1. Butter Market, By Product Type, Trend Analysis, Competitive Market Share & Forecast, 2021-2027

  2. Butter Market-Industry Trends & Forecast Report 2027 • A study, recently conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that Global Butter Market was worth USD 22.1 Billion in the year 2020. The market is estimated to grow at the CAGR of 4.8%, earning revenue of around USD 30.3 Billion by the end of 2027. A semi-solid food produced by refining the fat and protein portion of milk is butter. There is a daily increase in the demand for butter in the food-processing industry, which in turn is driving the growth of the global butter market. A large part of butter's demand has been driven by the bakery and confectionery industries since butter has become the main ingredient in these industries.

  3. Growth Drivers  Increasing demand for organic products The global butter market is expected to see a growth in profits due to a trend of premiumization and increased demand for organic products. Consequently, butter manufacturers are increasingly broadening their product portfolio, which now includes organic butter, flavored butter, and low-sodium butter with low saturated fats. Additionally, consumers are becoming more aware of the benefits of healthy food products, such as butter, and prefer them despite their high prices. Moreover, supermarkets and hypermarkets offer a variety of organic dairy products that are causing customers to spend more on premium and organic food products.

  4. Restraints  The demand for ready-to-eat products has been increased among the population, due to the lower market prices of butter and easy availability of different varieties of products in the market. However, increasing consumer health awareness brought a major challenge for the butter market. Due to this, many key players have already started providing healthy substitutes of butter products to serve their customer base better. Diet restrictions have become more common because consumers have become more focused on the ingredients of food products. Furthermore, people have curtailed their butter consumption because it is harmful to their health, which is impeding the growth of the global butter industry.

  5. Impact of COVID-19 Almost every industry has been disrupted by the COVID-19 outbreak. Milk and butter manufacturers have seen their supply chains disrupted due to declines in consumption during lockdowns imposed by governments around the world. Different countries had restricted the movement of goods across borders, and local manufacturers had to cease production due to a lack of raw materials. Besides government restrictions on the sale of non-essential goods, the fear of infection spreading through manufacturing facilities also hindered the development of the global butter market.

  6. Regional Insights Based on the region, the global butter market is grouped into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among all the regions, North America is dominating the global butter market. The growth can be attributed to the high consumer purchasing power and increasing consumer awareness of maintaining a healthy lifestyle. Additionally, due to expanding population and improved standards of life in terms of adopting a healthy diet, Asia Pacific is also noted as a significant market for low-fat butter.

  7. Competitive landscape The key players in the global butter market 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. (the US), Lactalis Group (France), Royal FrieslandCampina N.V. (Netherlands), Delta Nutritives (India), and other manufacturers. Sample Copy of the Report: https://www.blueweaveconsulting.com/report/global-butter-market/report-sample

  8. About Us: Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well-informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavors successful.

  9. Contact Us:  +1 866 658 6826 +1 425 320 4776 +44 1865 60 0662  info(@)blueweaveconsulting.com  www.blueweaveconsulting.com

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