The global Butter Market Size stood at $56.7 Billion in 2022 and is poised to register 4.3% growth over the forecast period from 2023 to 2030. Increasing demand for food with natural ingredients, Increasing Demand from Developing Countries, Companies focusing on innovative packaging to attract customers, To boost efficiency, companies focusing on technological innovation, and others are the main driving factors
Butter Market Analysis
Butter is a dairy product made exclusively from milk or cream with or without salt, with or without additional coloring matter, and containing not less than 80 percent by weight of milk fat. It contains saturated fat made from fresh cream and milk.
The butter market is significantly gaining demand driven by increasing preference for processed and frozen food products. These frozen foods products are easy to prepare at lower costs. Further, a positive demand outlook for convenience foods, a rise in disposable incomes of individuals, and increased spending on food and beverages like eating out will boost the demand for butter manufacturing.
Increasing demand for organic butter driven by increasing health consciousness and preference for natural and fresh ingredients is expected to drive the market for organic butter. Butter comprises of vitamins, proteins, calcium, phosphorous, and a high-calorie food.
It is manufactured using organic milk and lowers the risk of antibiotics, synthetic hormones, GM organisms, pesticides, and other additives or preservatives.
Natural butter is largely consumed worldwide. On the other hand, processed butter comprising of spreads is also gaining quick market value and is forecast to register a strong growth rate over the forecast period.
Butter Market Size Outlook
Market Dynamics
Market Trend- Increase in Demand for Low-fat Butter supports sales across end-user verticals
The growing health-conscious population worldwide is encouraging demand for low-fat butter products. Excessive butter fat intake which can lead to cardiovascular diseases is encouraging companies such as Kraft Foods, Amul, Arla Foods, and Fonterra to aggressively market low-fat, low-cholesterol, and low-calorie butter.
Amidst fast-paced lifestyles, people have relatively low time for exercise and accordingly, prefer the consumption of food with low-fat content with high nutritional values to stay fit. Low-fat butter containing less saturated fat, sodium, and low-density ingredients are being marketed across restaurants. The growing popularity of low-fat butter is set to drive the butter market both in developing and developed countries.
Market Driver- Increased home cooking activities in the post-pandemic period fuels market sales
The shift towards gourmet cooking is driving shifts in consumer purchase behavior with fresh, natural, and tasty food ingredients increasing rapidly. The drive towards foodie culture is encouraging the preparation of a variety of cuisines and nutrition-rich food and beverages.
Though the demand for large-volume packaging in restaurants and large-scale buyers has fluctuated, small-volume packaging with sales in grocery chains and distributors increased rapidly. Cheese and butter prices have steadied in 2022, presenting support for a wide range of vendors. The growth of the organized retail sector is also supporting the market growth. Increased awareness of diverse cuisines and cooking activities led to butter and cheese demand worldwide.
Over the long-term future, a positive outlook for the bakery and confectionery industry is set to drive the butter market demand as it is one of the vital ingredients in these industries. Increased investments in promotional campaigns that promote the usage of natural products also support market growth.
Market Segmentation
The global Butter Market is segmented into Types, Distribution Channels, and Countries.
Cultured Butter type is the dominant market in 2022
Cultured butter is often made with fresh cream and live cultured, then churned to perfection. It is created by adding live bacteria for superior taste. Companies are increasingly marketing preservative-free cultured products, which have probiotics similar to yogurt.
Products with a high smoke point, silky-smooth, delicious butter, and pleasing and distinctive flavor attract wide interest from consumers. The US markets often consume cultured butter in volumes of around 80% butterfat, and European-style cultured butter typically comprises of higher fat content (82-85%).
In addition to milk fat and water, normal butter contains salt (1.5-2.0%), trace amounts of protein, calcium, phosphorous, and various fat-soluble vitamins (A, D, and E). The manufacturing process produces butter with an enhanced flavor and is widely preferred by large-scale consumers such as bakeries and patisseries.
Asia Pacific is growing at the highest CAGR during the forecast period
Asia Pacific dominates the butter market driven by the growing population of China and India. India dominates the Asia Pacific Butter slices Market.
India is the world’s largest milk producer, and an estimated 55% is sold to small-scale processing companies and large-scale dairy product manufacturers. Increasing butter demand driven by the growing population, higher incomes, and more health consciousness is being observed in the country. Consumption of butter products is significantly increasing in urban areas. Rapid urbanization, fast-paced lifestyles, and the adoption of Western lifestyles are encouraging diverse flavors of butter. The use of butter in most homemade recipes also supports market demand.
Amul, Britannia, Mother Dairy, Kwality, Nandini, OMFED, Vijaya, and others are among the leading brands sold in the country. Salted butter is among the most consumed type of butter though demand for diverse flavors and types is increasing rapidly.
Despite large-scale milk production, the industry faces significant challenges in processing milk to value-added products, low R&D activities, and limited investments in scale-up. However, strong demand growth is encouraging rapid investments in the expansion of infrastructure.
Segmentation
By Type
By Distribution Channels
By Region
Key Players
Leading companies profiled in the study include-
Butter Market Outlook 2023
1 Market Overview
1.1 Introduction to Butter Market
1.2 Scope of the Study
1.3 Research Objective
1.3.1 Key Market Scope and Segments
1.3.2 Players Covered
1.3.3 Years Considered
2 Executive Summary
2.1 2023 Butter Industry- Market Statistics
3 Market Dynamics
3.1 Market Drivers
3.2 Market Challenges
3.3 Market Opportunities
3.4 Market Trends
4 Market Factor Analysis
4.1 Porter’s Five Forces
4.2 Market Entropy
4.2.1 Global Butter Market Companies with Area Served
4.2.2 Products Offerings Global Butter Market
5 COVID-19 Impact Analysis and Outlook Scenarios
5.1.1 Covid-19 Impact Analysis
5.1.2 Post-COVID-19 Scenario- Low Growth Case
5.1.3 Post-COVID-19 Scenario- Reference Growth Case
5.1.4 Post-COVID-19 Scenario- Low Growth Case
6 Global Butter Market Trends
6.1 Global Butter Revenue (USD Million) and CAGR (%) by Type (2018-2028)
6.2 Global Butter Revenue (USD Million) and CAGR (%) by Applications (2018-2028)
6.3 Global Butter Revenue (USD Million) and CAGR (%) by Regions (2018-2028)
7 Global Butter Market Revenue (USD Million) by Type, and Applications (2018-2022)
7.1 Global Butter Revenue (USD Million) by Type (2018-2022)
7.1.1 Global Butter Revenue (USD Million), Market Share (%) by Type (2018-2022)
7.2 Global Butter Revenue (USD Million) by Applications (2018-2022)
7.2.1 Global Butter Revenue (USD Million), Market Share (%) by Applications (2018-2022)
8 Global Butter Development Regional Status and Outlook
8.1 Global Butter Revenue (USD Million) By Regions (2018-2022)
8.2 North America Butter Revenue (USD Million) by Type, and Application (2018-2022)
8.2.1 North America Butter Revenue (USD Million) by Country (2018-2022)
8.2.2 North America Butter Revenue (USD Million) by Type (2018-2022)
8.2.3 North America Butter Revenue (USD Million) by Applications (2018-2022)
8.3 Europe Butter Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)
8.3.1 Europe Butter Revenue (USD Million), by Country (2018-2022)
8.3.2 Europe Butter Revenue (USD Million) by Type (2018-2022)
8.3.3 Europe Butter Revenue (USD Million) by Applications (2018-2022)
8.4 Asia Pacific Butter Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)
8.4.1 Asia Pacific Butter Revenue (USD Million) by Country (2018-2022)
8.4.2 Asia Pacific Butter Revenue (USD Million) by Type (2018-2022)
8.4.3 Asia Pacific Butter Revenue (USD Million) by Applications (2018-2022)
8.5 South America Butter Revenue (USD Million), by Type, and Applications (2018-2022)
8.5.1 South America Butter Revenue (USD Million), by Country (2018-2022)
8.5.2 South America Butter Revenue (USD Million) by Type (2018-2022)
8.5.3 South America Butter Revenue (USD Million) by Applications (2018-2022)
8.6 Middle East and Africa Butter Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)
8.6.1 Middle East and Africa Butter Revenue (USD Million) by Country (2018-2022)
8.6.2 Middle East and Africa Butter Revenue (USD Million) by Type (2018-2022)
8.6.3 Middle East and Africa Butter Revenue (USD Million) by Applications (2018-2022)
9 Company Profiles
10 Global Butter Market Revenue (USD Million), by Type, and Applications (2023-2028)
10.1 Global Butter Revenue (USD Million) and Market Share (%) by Type (2023-2028)
10.1.1 Global Butter Revenue (USD Million), and Market Share (%) by Type (2023-2028)
10.2 Global Butter Revenue (USD Million) and Market Share (%) by Applications (2023-2028)
10.2.1 Global Butter Revenue (USD Million), and Market Share (%) by Applications (2023-2028)
11 Global Butter Development Regional Status and Outlook Forecast
11.1 Global Butter Revenue (USD Million) By Regions (2023-2028)
11.2 North America Butter Revenue (USD Million) by Type, and Applications (2023-2028)
11.2.1 North America Butter Revenue (USD) Million by Country (2023-2028)
11.2.2 North America Butter Revenue (USD Million), by Type (2023-2028)
11.2.3 North America Butter Revenue (USD Million), Market Share (%) by Applications (2023-2028)
11.3 Europe Butter Revenue (USD Million), by Type, and Applications (2023-2028)
11.3.1 Europe Butter Revenue (USD Million), by Country (2023-2028)
11.3.2 Europe Butter Revenue (USD Million), by Type (2023-2028)
11.3.3 Europe Butter Revenue (USD Million), by Applications (2023-2028)
11.4 Asia Pacific Butter Revenue (USD Million) by Type, and Applications (2023-2028)
11.4.1 Asia Pacific Butter Revenue (USD Million), by Country (2023-2028)
11.4.2 Asia Pacific Butter Revenue (USD Million), by Type (2023-2028)
11.4.3 Asia Pacific Butter Revenue (USD Million), by Applications (2023-2028)
11.5 South America Butter Revenue (USD Million), by Type, and Applications (2023-2028)
11.5.1 South America Butter Revenue (USD Million), by Country (2023-2028)
11.5.2 South America Butter Revenue (USD Million), by Type (2023-2028)
11.5.3 South America Butter Revenue (USD Million), by Applications (2023-2028)
11.6 Middle East and Africa Butter Revenue (USD Million), by Type, and Applications (2023-2028)
11.6.1 Middle East and Africa Butter Revenue (USD Million), by Region (2023-2028)
11.6.2 Middle East and Africa Butter Revenue (USD Million), by Type (2023-2028)
11.6.3 Middle East and Africa Butter Revenue (USD Million), by Applications (2023-2028)
12 Methodology and Data Sources
12.1 Methodology/Research Approach
12.1.1 Research Programs/Design
12.1.2 Market Size Estimation
12.1.3 Market Breakdown and Data Triangulation
12.2 Data Sources
12.2.1 Secondary Sources
12.2.2 Primary Sources
12.3 Disclaimer
List Of Tables
Table 1 Market Segmentation Analysis
Table 2 Global Butter Market Companies with Areas Served
Table 3 Products Offerings Global Butter Market
Table 4 Low Growth Scenario Forecasts
Table 5 Reference Case Growth Scenario
Table 6 High Growth Case Scenario
Table 7 Global Butter Revenue (USD Million) And CAGR (%) By Type (2018-2028)
Table 8 Global Butter Revenue (USD Million) And CAGR (%) By Applications (2018-2028)
Table 9 Global Butter Revenue (USD Million) And CAGR (%) By Regions (2018-2028)
Table 10 Global Butter Revenue (USD Million) By Type (2018-2022)
Table 11 Global Butter Revenue Market Share (%) By Type (2018-2022)
Table 12 Global Butter Revenue (USD Million) By Applications (2018-2022)
Table 13 Global Butter Revenue Market Share (%) By Applications (2018-2022)
Table 14 Global Butter Market Revenue (USD Million) By Regions (2018-2022)
Table 15 Global Butter Market Share (%) By Regions (2018-2022)
Table 16 North America Butter Revenue (USD Million) By Country (2018-2022)
Table 17 North America Butter Revenue (USD Million) By Type (2018-2022)
Table 18 North America Butter Revenue (USD Million) By Applications (2018-2022)
Table 19 Europe Butter Revenue (USD Million) By Country (2018-2022)
Table 20 Europe Butter Revenue (USD Million) By Type (2018-2022)
Table 21 Europe Butter Revenue (USD Million) By Applications (2018-2022)
Table 22 Asia Pacific Butter Revenue (USD Million) By Country (2018-2022)
Table 23 Asia Pacific Butter Revenue (USD Million) By Type (2018-2022)
Table 24 Asia Pacific Butter Revenue (USD Million) By Applications (2018-2022)
Table 25 South America Butter Revenue (USD Million) By Country (2018-2022)
Table 26 South America Butter Revenue (USD Million) By Type (2018-2022)
Table 27 South America Butter Revenue (USD Million) By Applications (2018-2022)
Table 28 Middle East and Africa Butter Revenue (USD Million) By Region (2018-2022)
Table 29 Middle East and Africa Butter Revenue (USD Million) By Type (2018-2022)
Table 30 Middle East and Africa Butter Revenue (USD Million) By Applications (2018-2022)
Table 31 Financial Analysis
Table 32 Global Butter Revenue (USD Million) By Type (2023-2028)
Table 33 Global Butter Revenue Market Share (%) By Type (2023-2028)
Table 34 Global Butter Revenue (USD Million) By Applications (2023-2028)
Table 35 Global Butter Revenue Market Share (%) By Applications (2023-2028)
Table 36 Global Butter Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2028)
Table 37 North America Butter Revenue (USD)By Country (2023-2028)
Table 38 North America Butter Revenue (USD Million) By Type (2023-2028)
Table 39 North America Butter Revenue (USD Million) By Applications (2023-2028)
Table 40 Europe Butter Revenue (USD Million) By Country (2023-2028)
Table 41 Europe Butter Revenue (USD Million) By Type (2023-2028)
Table 42 Europe Butter Revenue (USD Million) By Applications (2023-2028)
Table 43 Asia Pacific Butter Revenue (USD Million) By Country (2023-2028)
Table 44 Asia Pacific Butter Revenue (USD Million) By Type (2023-2028)
Table 45 Asia Pacific Butter Revenue (USD Million) By Applications (2023-2028)
Table 46 South America Butter Revenue (USD Million) By Country (2023-2028)
Table 47 South America Butter Revenue (USD Million) By Type (2023-2028)
Table 48 South America Butter Revenue (USD Million) By Applications (2023-2028)
Table 49 Middle East and Africa Butter Revenue (USD Million) By Region (2023-2028)
Table 50 Middle East and Africa Butter Revenue (USD Million) By Region (2023-2028)
Table 51 Middle East and Africa Butter Revenue (USD Million) By Type (2023-2028)
Table 52 Middle East and Africa Butter Revenue (USD Million) By Applications (2023-2028)
Table 53 Research Programs/Design for This Report
Table 54 Key Data Information from Secondary Sources
Table 55 Key Data Information from Primary Sources
List Of Figures
Figure 1 Market Scope
Figure 2 Porter’s Five Forces
Figure 3 Global Butter Revenue (USD Million) By Type (2018-2022)
Figure 4 Global Butter Revenue Market Share (%) By Type (2022)
Figure 5 Global Butter Revenue (USD Million) By Applications (2018-2022)
Figure 6 Global Butter Revenue Market Share (%) By Applications (2022)
Figure 7 Global Butter Market Revenue (USD Million) By Regions (2018-2022)
Figure 8 Global Butter Market Share (%) By Regions (2022)
Figure 9 North America Butter Revenue (USD Million) By Country (2018-2022)
Figure 10 North America Butter Revenue (USD Million) By Type (2018-2022)
Figure 11 North America Butter Revenue (USD Million) By Applications (2018-2022)
Figure 12 Europe Butter Revenue (USD Million) By Country (2018-2022)
Figure 13 Europe Butter Revenue (USD Million) By Type (2018-2022)
Figure 14 Europe Butter Revenue (USD Million) By Applications (2018-2022)
Figure 15 Asia Pacific Butter Revenue (USD Million) By Country (2018-2022)
Figure 16 Asia Pacific Butter Revenue (USD Million) By Type (2018-2022)
Figure 17 Asia Pacific Butter Revenue (USD Million) By Applications (2018-2022)
Figure 18 South America Butter Revenue (USD Million) By Country (2018-2022)
Figure 19 South America Butter Revenue (USD Million) By Type (2018-2022)
Figure 20 South America Butter Revenue (USD Million) By Applications (2018-2022)
Figure 21 Middle East and Africa Butter Revenue (USD Million) By Region (2018-2022)
Figure 22 Middle East and Africa Butter Revenue (USD Million) By Type (2018-2022)
Figure 23 Middle East and Africa Butter Revenue (USD Million) By Applications (2018-2022)
Figure 24 Global Butter Revenue (USD Million) By Type (2023-2028)
Figure 25 Global Butter Revenue Market Share (%) By Type (2028)
Figure 26 Global Butter Revenue (USD Million) By Applications (2023-2028)
Figure 27 Global Butter Revenue Market Share (%) By Applications (2028)
Figure 28 Global Butter Market Revenue (USD Million) By Regions (2023-2028)
Figure 29 North America Butter Revenue (USD Million) By Country (2023-2028)
Figure 30 North America Butter Revenue (USD Million) By Type (2023-2028)
Figure 31 North America Butter Revenue (USD Million) By Applications (2023-2028)
Figure 32 Europe Butter Revenue (USD Million) By Country (2023-2028)
Figure 33 Europe Butter Revenue (USD Million) By Type (2023-2028)
Figure 34 Europe Butter Revenue (USD Million) By Applications (2023-2028)
Figure 35 Asia Pacific Butter Revenue (USD Million) By Country (2023-2028)
Figure 36 Asia Pacific Butter Revenue (USD Million) By Type (2023-2028)
Figure 37 Asia Pacific Butter Revenue (USD Million) By Applications (2023-2028)
Figure 38 South America Butter Revenue (USD Million) By Country (2023-2028)
Figure 39 South America Butter Revenue (USD Million) By Type (2023-2028)
Figure 40 South America Butter Revenue (USD Million) By Applications (2023-2028)
Figure 41 Middle East and Africa Butter Revenue (USD Million) By Region (2023-2028)
Figure 42 Middle East and Africa Butter Revenue (USD Million) By Region (2023-2028)
Figure 43 Middle East and Africa Butter Revenue (USD Million) By Type (2023-2028)
Figure 44 Middle East and Africa Butter Revenue (USD Million) By Applications (2023-2028)
Figure 45 Bottom-Up and Top-Down Approaches For This Report
Figure 46 Data Triangulation
The global Butter Market Size stood at $56.7 Billion in 2022.
The market is poised to register 4.3% growth over the forecast period from 2023 to 2030.
Fonterra Co-Operative Group Ltd, Arla Foods, Ornua Co-Operative Ltd, Royal Friesland Campina NV, Land O’Lakes Inc., Lactalis International, Dairy Farmers of America; Inc., Amul Dairy, Meadow Foods Ltd., CROPP Cooperative (Organic Valley)
Cultured Butter, the E-commerce sector, and Asia Pacific are the fastest-growing segments in the market.