What is the global market size of Butter Market?

Butter Market size was valued at USD 52.60 billion in 2021 and is poised to grow from USD 54.07 billion in 2022 to USD 65.60 billion by 2030, at a CAGR of 2.8% during the forecast period (2023-2030).

Butter Market Size, Share, Growth Analysis, By Product(Cultured Butter, Uncultured Butter and Others), By Distribution Channels(Offline and Online), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Butter Market?

In addition to regional producers, the global market is dominated by a number of well-known companies, including Lactalis International, Fonterra Co-operative Group, Ornua Co-operative Ltd, and Organic Valley. In order to grow their businesses, a variety of manufacturers and suppliers concentrate on the logistical development and improvement of the distribution channel. To boost sales and market share, major businesses are also emphasising brand development, product innovation, and launches. 'Fonterra Co-operative Group - New Zealand', 'Arla Foods - Denmark', 'Lactalis Group - France', 'Royal FrieslandCampina - Netherlands', 'Dairy Farmers of America - United States', 'Ornua Co-operative Limited - Ireland', 'Amul - India', 'Land O'Lakes - United States', 'Megmilk Snow Brand - Japan', 'Murray Goulburn - Australia', 'DMK Group - Germany', 'Saputo - Canada', 'Agropur Cooperative - Canada', 'Glanbia plc - Ireland', 'Bel Group - France', 'Westland Milk Products - New Zealand', 'Lácteos Brasil - Brazil', 'Saputo Dairy Australia - Australia', 'Milkiland - Ukraine', 'Sodiaal - France', 'Hochwald Foods - Germany', 'Strauss Group - Israel'.

Report ID: SQMIG30I2304 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 60 | Figures: 77

Butter Market Dynamics

Butter Market Drivers

Innovations in Branding and Product Portfolio to Bring New Revenue Opportunities for Players

The butter market has seen a surge in innovative packaging options such as resealable pouches, convenient butter sticks, and butter in tubes. These packaging innovations have helped to increase the convenience and accessibility of butter to consumers.

Governments around the world are promoting the consumption of dairy products such as butter by providing subsidies to farmers and offering incentives to consumers to buy locally produced butter. This has helped to drive demand for butter in many countries.

Butter Market Restraints

Competition from Margarine and Other Substitutes might Hinder Market Growth

Margarine and other butter substitutes are becoming increasingly popular due to their lower cost and perceived health benefits. This has led to increased competition in the market, which could potentially limit the growth of the butter market.

Butter Market Report Snapshots

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FAQs

Butter Market size was valued at USD 54.07 Billion in 2022 and is poised to grow from USD 55.58 Billion in 2023 to USD 69.33 Billion by 2031, at a CAGR of 2.80% during the forecast period (2024-2031).

In addition to regional producers, the market is dominated by a number of well-known companies, including Lactalis International, Fonterra Co-operative Group, Ornua Co-operative Ltd, and Organic Valley. In order to grow their businesses, a variety of manufacturers and suppliers concentrate on the logistical development and improvement of the distribution channel. To boost sales and market share, major businesses are also emphasising brand development, product innovation, and launches. 'Fonterra Co-operative Group - New Zealand', 'Arla Foods - Denmark', 'Lactalis Group - France', 'Royal FrieslandCampina - Netherlands', 'Dairy Farmers of America - United States', 'Ornua Co-operative Limited - Ireland', 'Amul - India', 'Land O'Lakes - United States', 'Megmilk Snow Brand - Japan', 'Murray Goulburn - Australia', 'DMK Group - Germany', 'Saputo - Canada', 'Agropur Cooperative - Canada', 'Glanbia plc - Ireland', 'Bel Group - France', 'Westland Milk Products - New Zealand', 'Lácteos Brasil - Brazil', 'Saputo Dairy Australia - Australia', 'Milkiland - Ukraine', 'Sodiaal - France', 'Hochwald Foods - Germany', 'Strauss Group - Israel'

The butter market has seen a surge in innovative packaging options such as resealable pouches, convenient butter sticks, and butter in tubes. These packaging innovations have helped to increase the convenience and accessibility of butter to consumers.

The butter market has seen an increased focus on product innovation, including the introduction of flavored butters, spreadable butter, and butter blends. Manufacturers are also investing in packaging innovations to make butter more convenient and accessible to consumers.

By geographic market revenue share for butter, Asia Pacific led the world. In terms of market revenue in 2021, Asia Pacific accounted for over 45% of the butter market. The increased population, primarily from China and India, is largely to blame for this. About half of the world's population resides in Asia and the Pacific, according to United Nations statistics. The larger market share held by the Asia Pacific region is attributed to its vast consumer base and high consumption of fast food, baked goods, and other processed foods.

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Butter Market Size, Share, Growth Analysis, By Product(Cultured Butter, Uncultured Butter and Others), By Distribution Channels(Offline and Online), By Region - Industry Forecast 2024-2031

Butter Market Dynamics

Butter Market Report Snapshots

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What is the market size of Butter Market?

Who are the key vendors in the Butter Market?

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