Global Butter Market 2023-2030

Global Butter Market 2023-2030

Global Butter Market Size, Share, and Trends Analysis Report by Type (Salted, Unsalted, and Others), by Product Type (Clarified Butter, Regular Butter, and whipped Butter), and by Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, and Online Retail) Forecast Period (2023-2030)

The global butter market is anticipated to grow at a considerable CAGR of 6.8% during the forecast period (2023–2030).The market's growth is attributed to factors such as rising consumer demand in the globe. Consumers are demanding a wider range of varieties in butter and quality-based products such as unsalted butter, salted butter, sweet cream butter, and cultured butter. This influenced the manufacturer to concentrate on developing new and unique butter flavors. For instance, in March 2023, Land O’Lakes launched a limited-time everything-bagel-flavored butter spread called Land O Lakes® Every Little Thing™ Butter Spread. This butter spread will be available globally exclusively in Aldi stores.

Segmental Outlook

The butter market is segmented based on type, product type, and distribution channel. Based on the type, the market is segmented into salted, unsalted, and others (sweet cream butter, and flavored butter). Based on product type, the market is segmented into clarified butter, regular butter, and whipped butter. Further, based on distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, and online retail. Among the type, the others include flavored butter sub-segment is estimated to contribute to the growing demand for flavored butters are a new choice for consumers looking for time savers in their everyday cooking. Butters flavored with rich ingredients such as garlic, herbs, or fresh citrus flavorings have the potential to be popular. honey and butter have traditionally been combined in a sweet spread. For instance, in July 2022, Challenge Butter, launched challenge butter snack spreads. The new spreads make a variety of favorite sweet and savory flavor profiles, ranging from chocolate and salted caramel to everything and buffalo, available in a Challenge Butter-based spread.

The Regular Butter Sub-Segment is Anticipated to Hold a Prominent Share of the Global Butter Market

Among the type, the regular butter sub-segment is expected to hold a prominent share of the global butter market due to butter demand is increasing in the food service industry as fast food consumption rises. Nowadays, restaurants are making menu changes due to increasing demand for the butter mainly fast food is more consumed by the majority of the youngsters and working-class age group. Due to butter is frequently used for frying and flavoring a variety of fast food products, the growing trend of fast food consumption gained a major effect on the butter industry. For Instance McDonald’s last year switched out of liquid margarine to butter on the Egg McMuffin. Maloni of the American Restaurant Association estimated last year’s shift to butter by McDonald’s increased the globally annual butter consumption by around 20 million pounds, or about 1% of total global/production.

Regional Outlooks

The global butter market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East and Africa, and Latin America). Among these, North America region is anticipated to grow at a significant rate over the forecast period.

Global Butter Market Growth, by Region, 2023-2030

Source: OMR Analysis

The Asia-Pacific region is expected to hold a prominent share of the global butter market.

The Asia-Pacific region is expected to hold a prominent share in the brown rice market, owing to the increasing demand for the consumption of butter in the country. According to Statista total domestic consumption volume of butter was 6.49 million metric tons in India. This was an increase as compared to the previous year when the consumption volume was 6.29 million metric tons. India is the largest milk producer in the globe, and butter is one of the major dairy products produced in the country. India's major butter-producing states include Gujarat, Maharashtra, Punjab, and Haryana. The Indian government additionally makes significant investments in the dairy sector, that will increase production and improve butter quality. Furthermore, technological advancements and the increasing availability of modern machinery will increase butter production efficiency and reduce costs. As a result, butter production in India is expected to remain significant and grow.

Market players' outlook

The major companies serving the global video-on-demand market include Anand Milk Union Ltd (Amul), Anchor Butter, Arla Foods amba, Clover-Stornetta Farms, Inc, Dairy Farmers of America Inc ,and others. The market players are considerably contributing to market growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2022, Dairy's organic butter, announced the Majestic butter is available in both unsalted and salted forms. It is sold in packages of four wrapped sticks weighing 4 ounces each and has an estimated retail price of $7.99.

The report covers.

Market value data analysis for 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions

Key companies operating in the global butter market Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market entry and market expansion strategies.