Global Butter Market By Type, By Distribution Channel, By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021–2031

The Butter Market is expected to be around USD 85.2 Bn by 2031 from USD 36.7 Bn in 2021, growing at a CAGR of 54.7% from 2021 to 2031.

“Global Butter Market” is the title of an upcoming report offered by Market.us. This comprehensive market research report on the butter industry contains inputs, as well as information & data from both primary and secondary sources, that have been validated and verified by target market experts. Apart from critical data and other related information, the report also includes factors that could be or are potential restraints to market growth, present & future key trends, recourses that can be leveraged for potential market expansion in untapped regions or countries, as well as factors that are presently fueling growth in the butter market. It also covers challenges or threats for new and existing market entrants. The report thoroughly studies revenues, key developments, strategies, historical data, and major players’ information that offers crucial perspectives/insights into various market scenarios. The global butter market has been segmented based on butter type, distribution channel, regions, and countries.

Overview:

Butter is a dairy product made by churning milk or cream to separate the fat globules from the buttermilk. Salt and food coloring are sometimes added. Rendering butter, removing the water and milk solids produces clarified butter or ghee, almost entirely butterfat.

Dynamics:

The steady surge in the usage of butter in bakery & confectionery outlets, as well as the increased consumption of packaged food items such as cakes, biscuits, macaroons, cookies, etc., are primary factors that are expected to boost the revenue growth of the global butter market over the next 10 years.

The growing number of Hotels, Restaurants, and Cafes (HoReCa) in both developed and emerging economies across the world, is also another factor that is slated to have a positive impact on the revenue growth of this global market due to their high-volume and regular incorporation of butter in their daily menus.

The growing prominence of e-commerce platforms such as Amazon, Walmart, Tesco, etc., which offer greater discounts on their products and the convenience of home delivery, is proving to be a significant factor that is leading to an expected increase in revenue growth of the global butter market in the years to come.

However, in light of the recent COVID-19 outbreak, manufacturing and supply-chain operations of key industry players have either been temporarily halted or are functioning with a minimal workforce. This is a factor that is expected to have a profound impact on the growth of this market in the coming years. The availability of alternatives to butter, such as nut butter, margarine, etc., could potentially hamper the future market growth.

Nonetheless, there has been a steady increase in investments towards further R&D activities to develop healthier products. This is anticipated to positively influence market growth for this global industry in the foreseeable future.

Segmentation of the global butter market is as follows:

Based on butter type, the cultured butter segment accounted for the highest revenue shares (44.3%) of the global butter market in 2020 and is slated to index the highest CAGR over the next 10 years. The uncultured segment also accounted for considerable revenue shares of this global market in 2020 and is anticipated to continue to do so over the forecast period.

In terms of distribution channel, the supermarket/hypermarket segment accounted for the majority of revenue shares of the global butter market in 2020 and is slated to register the highest CAGR, with an attractiveness index of 5.2, over the next 10 years. The convenience store segment accounted for the second-most revenue shares of this global market in 2020 and is also anticipated to expand at a considerable revenue growth rate over the next 10 years.

Regional Segmentation and Analysis:

The Asia Pacific region accounted for the majority of revenue shares (48.2%) of the global butter market in 2020 and is anticipated to index the highest CAGR over the next decade. The markets in Europe and North America accounted for the second and third-most revenue shares of this global market in 2020 and is indicative of continuing to do so over the next decade.

Segmentation of the Global Butter Market:

Segmentation by Butter Type:

• Cultured Butter
• Uncultured Butter
• Other Butter Types

Segmentation by Distribution Channel:

• Hypermarket / Supermarket
• Convenience Store
• Specialty Store
• Online

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

 Key players profiled in the market report are:

• Organic Dairy LLC (Danone SA)
• Lactalis Corporation (B.S.A. International S.A.)
• Dairy Farmers of America Inc.
• Land O’Lakes Inc.
• Fonterra Co-operative Group Limited
• Arla Foods amba
• Gujarat Co-Operative Milk Marketing Federation Limited (AMUL)
• Organic Valley Co-operative
• Ornua Co-Operative Limited
• Cabot Creamery Co-operative Inc. (Agri-Mark Inc.)

For the Butter Market research study, the following years have been considered to estimate the market size: