Global Reduced Fat Butter Market - Growth, Trends, and Forecast ((2022 - 2027)

Global Reduced Fat Butter Market - Growth, Trends, and Forecast ((2022 - 2027)

Global reduced fat butter market is projected to grow at a CAGR of 6.73% during the forecast period (2021- 2026).

Key Highlights

• The rise in the number of health-conscious consumers has increased the demand for healthy food products acting as a key factor to boost the market growth in the next few years. Moreover, the growing incidence of obesity and cardiac arrests is also driving the product's demand. Also, companies are introducing different product forms, such as spreads and non-spreads, which is likely to contribute to the reduced-fat butter market growth.
• On the other hand, the easy availability of substitutes of reduced-fat butter such as olive oil, coconut spread, and avocado spreads which contain creamy texture & taste and offer more health benefits than reduced-fat butter may restraint the market growth during the forecast period.
• Due to COVID-19, the butter market has countered various supply chain disruptions, which also includes ingredients such as milk to produce butter, owing to which vaiorus players have switched to plant-based dairy products manufacturing, considering a better way to respond in real-time to the changing market conditions. This in turn, creates an opportunity for the market players to inovate in the category due to changing consumers preferences for healthy food products.

Key Market TrendsSurge in Demand for Low Fat and Low Calorie Food Products

Consumers are getting increasingly conscious of the health risks associated with a high-caloric and fat diet. The importance of consuming a low-fat diet and consequently avoiding the excess energy intake from getting converted to fat depositions in the body has been a well-understood fact amongst health-conscious consumers, particularly in the developed countries such as the United States.​ The aforementioned trend is expected to reach quickly to developing and transition economies as a part of well-defined public health goals and growing government interventions from different pathways. ​The World Health Organization recommends that the total fat intake should be less than 30% of the total calories and that the intake of saturated fat should not exceed 10% of the total calories. This is creating a widespread demand for the reduced fat butter thus contributing to the market growth during the forecast period.

North America Holds the Largest Market Share

North America poised to be the largest market in the market studied, majorly due to the high consumer purchasing power and rising awareness about maintaining a healthy lifestyle augmenting the region’s growth. Further, Asia Pacific is also becoming a prominent market for the low-fat butter industry due to rising demand and increasing population along with improved standards of living in terms of adopting a healthy diet. Moreover, constant product innovation by regional companies will spur market growth. For instance, Amul Milk Union Ltd. offers Amul Lite, which has no preservatives and low saturated fat content.

Competitive Landscape

Some of the major players in the market studied are GCMMF, Land O’Lakes, Inc, Finlandia Cheese, Inc, Savencia Fromage and Dairy and Saputo Inc., among others. Easy availability of a wide range of products offered by premium and local brands along with attractive discounts and offers is estimated to boost product sales through the store-based distribution channels. Moreover, companies are actively innovating in the category in order to sustain their position in the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
GCMMF
Land O'Lakes, Inc
Finlandia Cheese, Inc
SAVENCIA SA
Saputo Inc.
Unilever (Upfield)
Arla Foods
Ornua Co
operative Limited
Rockview Farms
Raisio Group plc

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