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Butter Market Report and Forecast 2024-2032

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    Report

  • 164 Pages
  • July 2024
  • Region: Global
  • Expert Market Research
  • ID: 5990230
According to the report, the butter market size reached approximately USD 49.43 billion in 2023. Aided by the increasing demand for natural and organic food products and the growing applications of butter in various sectors, the market is projected to grow at a CAGR of 3.20% between 2024 and 2032, reaching a value of around USD 65.67 billion by 2032.

Butter, a dairy product made by churning milk or cream, is widely used as a spread, in baking, and as an ingredient in various culinary applications. It is rich in fats, vitamins, and minerals, making it a significant source of nutrition. Besides its nutritional value, butter possesses excellent flavour-enhancing properties and is known for its versatility in both sweet and savoury dishes. This makes it an indispensable ingredient in the food sector, from household kitchens to professional culinary settings.

The increasing consumer preference for natural and organic food products is driving the butter market growth. With the growing awareness of the health benefits associated with the consumption of minimally processed foods, there has been a significant shift towards natural and organic butter. Consumers are increasingly seeking products that are free from artificial additives and preservatives, leading to a surge in demand for organic butter varieties.

The rising trend of home baking and cooking has further contributed to the increasing popularity of butter. During the COVID-19 pandemic, many consumers turned to home cooking and baking, which led to a spike in the demand for butter as a key ingredient in numerous recipes. This trend is expected to continue as people increasingly embrace home-cooked meals for health and cost reasons.

The expanding applications of butter in various sectors also play a significant role in propelling the butter market expansion. In the food sector, butter is a crucial ingredient in the production of baked goods, confectioneries, and dairy products. Its unique properties, such as its ability to enhance flavour and texture, make it a preferred choice among chefs and food manufacturers.

North America holds a significant portion of the butter market share, driven by the high consumption of butter in the United States and Canada. The preference for organic and natural food products, coupled with the rising trend of home baking, supports the market growth in this region.

Europe is a major market for butter, with countries like France, Germany, and the United Kingdom being prominent consumers. The strong culinary traditions and the high demand for premium and artisanal butter products contribute to the market expansion in this region.

As per the butter market analysis, the Asia Pacific is witnessing rapid growth in the market, driven by increasing urbanisation, rising disposable incomes, and changing dietary habits. Countries like China, India, and Japan are emerging as significant markets for butter, with a growing preference for Western-style baked goods and dairy products.

The market is witnessing several key developments aimed at enhancing product offerings and expanding market reach. Leading companies are investing in product innovation and expanding their distribution networks to cater to the growing demand for butter.

Companies are increasingly focusing on offering organic and grass-fed butter to meet the rising consumer demand for natural and ethically sourced products. These varieties are marketed as healthier and more sustainable options.

To cater to diverse consumer preferences, manufacturers are introducing flavoured and functional butter varieties. These include options like garlic butter, herb-infused butter, and butter with added nutrients such as omega-3 fatty acids, propelling the butter market development. Moreover, with the growing emphasis on sustainability, companies are adopting eco-friendly packaging solutions for their butter products. This includes the use of recyclable materials and reduced plastic usage.

Market Segmentation

The global butter market can be divided based on type, usage, end use, distribution channel, and region.

Market Breakup by Type

  • Salted Butter
  • Unsalted Butter

Market Breakup by Usage

  • Spreadable
  • Non-spreadable

Market Breakup by End Use

  • Food Processing
  • Food Service
  • Food Retail

Market Breakup by Distribution Channel

  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Online
  • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global butter market. Some of the major players explored in the report are as follows:
  • Lactalis International
  • Land O’Lakes, Inc.
  • Fonterra Co-operative Group Limited
  • Royal FrieslandCampina N.V.
  • Arla Foods amba
  • Gujarat Co-operative Milk Marketing Federation Ltd (AMUL)
  • Dairy Farmers of America, Inc.
  • Müller Group
  • Ornua Co-operative Limited
  • Organic Valley
  • Meadow Foods Limited
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Butter Market Analysis
8.1 Key Industry Highlights
8.2 Global Butter Historical Market (2018-2023)
8.3 Global Butter Market Forecast (2024-2032)
8.4 Global Butter Market by Type
8.4.1 Salted Butter
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Unsalted Butter
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Butter Market by Usage
8.5.1 Spreadable
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Non-spreadable
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Butter Market by End Use
8.6.1 Food Processing
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Food Service
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Food Retail
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Butter Market by Distribution Channel
8.7.1 Supermarkets/Hypermarkets
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Convenience Stores
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Online
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Others
8.8 Global Butter Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Butter Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Butter Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Butter Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Butter Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Butter Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code - 040510)
15.1 Major Exporting Countries
15.1.1 By Value
15.1.2 By Volume
15.2 Major Importing Countries
15.2.1 By Value
15.2.2 By Volume
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Lactalis International
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Land O’Lakes, Inc.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Fonterra Co-operative Group Limited
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.3.5 Certifications
17.2.4 Royal FrieslandCampina N.V.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Arla Foods amba
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Gujarat Co-operative Milk Marketing Federation Ltd (AMUL)
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Dairy Farmers of America, Inc.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Müller Group
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Ornua Co-operative Limited
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Organic Valley
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Meadow Foods Limited
17.2.11.1 Company Overview
17.2.11.2 Product Portfolio
17.2.11.3 Demographic Reach and Achievements
17.2.11.4 Certifications
17.2.12 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Butter Market: Key Industry Highlights, 2018 and 2032
2. Global Butter Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Butter Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Butter Historical Market: Breakup by Usage (USD Billion), 2018-2023
5. Global Butter Market Forecast: Breakup by Usage (USD Billion), 2024-2032
6. Global Butter Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Butter Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Butter Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
9. Global Butter Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
10. Global Butter Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Butter Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Major Exporting Countries by Value
23. Major Importing Countries by Value
24. Major Exporting Countries by Volume
25. Major Importing Countries by Volume
26. Global Butter Market Structure

Companies Mentioned

  • Lactalis International
  • Land O’Lakes, Inc.
  • Fonterra Co-operative Group Limited
  • Royal FrieslandCampina N.V.
  • Arla Foods amba
  • Gujarat Co-operative Milk Marketing Federation Ltd (AMUL)
  • Dairy Farmers of America, Inc.
  • Müller Group
  • Ornua Co-operative Limited
  • Organic Valley
  • Meadow Foods Limited

Methodology

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Table Information