Butter Market Overview
The Global Butter Market is projected to reach USD 5.91 billion by 2024 and grow at a significant CAGR of 3.1% during the forecast period, 2019-2024. The Global Butter Market share is expected to grow at a higher growth rate supported by diverse application of butter for culinary purpose. Rising trend of butter fortification to enhance the nutritional value as well as flavor of the product is propelling the growth of this market. Increasing demand for food ingredients to increase the organoleptic property of the food is also influencing the growth of Butter Industry, positively.
Rising sale of butter is driven majorly by its nutritional value and diverse application across the food industry. Furthermore, rising trend of fast food consumption adds fuel to growth of the global butter market. Hectic lifestyle of consumers is also propelling the demand for processed and convenience foods. Butter is one of the key ingredients in convenience food and hence the growth of convenience food market is directly influencing the growth of butter on the global level, positively.
Consumption of unprocessed butter will be growing at a higher rate during the forecast period owing to rising awareness about demerits of processed food consumption
Top exporters of butter include New Zealand, the Netherlands, Ireland, Belgium, and Germany
The major key players in the butter market are
- Amul (India)
- Arla Foods (Denmark)
- Kraft Foods Inc. (U.S.)
- Land O’Lakes, Inc. (U.S.)
- FrieslandCampina (Netherlands)
- Dean Foods (U.S.)
- Organic Valley (U.S.)
Butter manufacturers across various regions are following the strategy of product innovations to add new and unique flavors to their product to penetrate the global market and to meet the growing demand for the product. Furthermore, key players are investing more in R & D sector to improve their existing products line and to enhance the quality as well as the shelf-life of the butter. In the Europe, the Netherlands dominates butter market and exports the product to various other countries, which include Germany, France, Belgium, China, the U.K. and others.
The Global Butter Market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Europe holds a major market share followed by North America. High demand for butter owing increasing disposable income and high fast food consumption from the developed countries of these regions is contributing to the growth of the butter market. France, Germany, Belgium, the Netherlands and Russia are the major importers of butter. Developed trading channels and high demand for bakery products are also driving the growth of the market in these countries.
Table of Content
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3 Butter Industry Insights
Chapter 4 Butter Processing Insights
Chapter 5 Butter Product-Type Insights
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