Butter Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Global butter market is segmented by Product Type (Cultured butter, uncultured butter, and Others), By Distribution Channel (Supermarkets/hypermarkets, Convenience stores, Speciality stores, Online retail stores, and others), and by Geography.

Market Snapshot

butter-market_Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 3.9 %

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Market Overview

The global butter market is growing at a CAGR of 3.9% during the forecast period (2020-2025).

  • The market is driven by the increasing demand for bakery and confectionery as it is one of the vital ingredients in these industries. Also, with the dropping prices of butter, the competition between substitute products has intensified and consumers looking for foods with less artificial ingredients are switching to butter. The promotional campaigns that promote the usage of natural products have helped the companies to increase their sales.
  • Geographically, Europe and North America dominate the market. However, Asia-Pacific is expected to be the fastest-growing market for butter, during the forecast period, with India being the major markets. As per the data given by StatCan, Canadian Dairy Information Centre, International Dairy Federation, and Agriculture and Agri-Food Canada, the butter consumption was highest in Cyprus (12.9 per capita consumption in kilograms) in 2016 and the lowest was in China (with 0.1 per capita consumption in kilograms).
  • Availability of healthy alternatives to butter, such as margarine, along with government regulations in the production and distribution of butter is one factor that is restraining the market growth.

Scope of the Report

The global butter market has been segmented based on type, distribution channel, and geography. By type, the market is segmented into cultured butter, uncultured butter, and others. Regarding the distribution channel, the market has been segmented into supermarkets/hypermarkets, convenience stores, specialty stores, online retail stores, and others, where, supermarkets/hypermarkets segment dominates the global market. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America and the Middle East and Africa.

Product type
Cultured Butter
Uncultured Butter
Others
Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Specialty Stores
Online Retail Stores
Other Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
United Arab Emirates
Rest of Middle East and Africa

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Key Market Trends

Increase In Demand For Low Fat/Calorie/Cholesterol Butter

Awareness of excessive butter fat intake which can lead to cardiovascular diseases, have led to a shift in the category of low fat, low cholesterol and low-calorie butter. Brands such as Amul, Fonterra and Arla Foods have introduced butter of low fat and cholesterol to meet the consumers need in the market. As per th data given by the Office for National Statistics (UK), there is a significant increase in sales volume of low-fat butter (not exceeding 85% by weight) in the year 2017.

Global Butter Market-Graph 1

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Asia-Pacific Region Is The Fastest Growing Market

As per the US Department of Agriculture and Economic Research Service, India is the leading butter producing country in 2018, producing 5.6 million metric tons of butter. The Asia-Pacific butter supply has always been highly influenced, in increasing quantities, by the domestic market, mainly by the confectionery and bakery industry. Butter processing plants in the Asia-Pacific region have been significantly expanding to meet the consumers demand, and therefore fueling the market growth.

Global Butter Market-Picture 2

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Competitive Landscape

The global butter market is considerably competitive in nature having large number of domestic and multinational player competing for market share and with innovation in products being a major strategic approach adopted by leading players. Additionally, merger, expansion, acquisition and partnership with other companies are the common strategies to enhance the company presence and boost the market.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product type

      1. 5.1.1 Cultured Butter

      2. 5.1.2 Uncultured Butter

      3. 5.1.3 Others

    2. 5.2 Distribution Channel

      1. 5.2.1 Supermarkets/Hypermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Specialty Stores

      4. 5.2.4 Online Retail Stores

      5. 5.2.5 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Fonterra Co-operative Group

      2. 6.4.2 Arla Foods

      3. 6.4.3 Ornua Co-operative Ltd

      4. 6.4.4 CROPP Cooperative (Organic Valley)

      5. 6.4.5 Dean Foods

      6. 6.4.6 Dairy Farmers of America, Inc.

      7. 6.4.7 Anand Milk Union Limited (Amul)

      8. 6.4.8 Meadow Foods Ltd.

      9. 6.4.9 MS Iceland Dairies

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Butter Market market is studied from 2016 - 2026.

The Butter Market is growing at a CAGR of 3.9% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Fonterra Co-operative Group, Arla Foods, Ornua Co-operative Ltd, CROPP Cooperative, Dean Foods are the major companies operating in Butter Market.

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