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

Global 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).

The demand for butter has increased because it is one of the staple commodities utilised in many food products prepared in households around the world. Additionally, it is anticipated that the availability of various flavours of flavoured butter will boost its demand in the market under investigation. One reason that is limiting market growth is the availability of healthy substitutes for butter, such as margarine, as well as government regulations in the manufacture and distribution of butter. Also, the region's main market driver is the growing customer preference for dairy products that can be stored, especially butter, for consumption at home. Compared to the average year-over-year growth during the 2017–2019 period, the global market showed stronger growth of 22.02% in 2021.

Due to the demand and expansion of this industry, the CAGR decreased. Consumers throughout the world are becoming more and more concerned about their health, and they are also becoming more and more aware of the advantages of dairy products like butter. In moderation, butter can be incorporated into a healthy diet and may even have a number of positive health effects. Moreover, the global market's growing low-fat, low-calorie, and low-cholesterol butter product introductions are broadening the consumer base. Since these low-fat, low-calorie butter are now available to health-conscious and fitness-minded consumers, the market's growth is anticipated to pick up speed over the coming years.

US Butter Market is poised to grow at a sustainable CAGR for the next forecast year.