Butter Market Size

Butter Market Analysis

The Butter Market size is estimated at USD 27.94 billion in 2024, and is expected to reach USD 34.12 billion by 2029, growing at a CAGR of 4.08% during the forecast period (2024-2029).

In some cultures, butter holds significant culinary and cultural importance, leading to sustained or increased demand for butter worldwide. Moreover, there has been a substantial shift in consumer preferences toward minimally processed food products. For instance, according to the Federal Ministry of Food and Agriculture, in 2022/23, around 90% of German consumers bought organic products due to animal husbandry considerations, and about 90% of consumers across Germany preferred buying natural/untreated groceries due to their concerns regarding health and wellbeing. As a result, manufacturers focus on the innovation of different butter forms with lesser fat content, spreadable format, and convenient packaging. For instance, in March 2023, Lactalis UK & Ireland launched light and spreadable butter under the President brand. This product was claimed to have 50% less fat compared to standard butter products. Furthermore, the market studied is characterized by the large number of brands catering to the B2C market by offering quality products at different price points. Therefore, new product offerings by emerging companies in the market are anticipated to play a significant role in propelling the demand for butter during the study period.