blog

Butter Market by application, Key Company Profiles, Types, Applications and Forecast to 2027

Market Overview

Global Butter Market by application is projected to be valued at USD 58,119.2 Million by 2025, expanding at a CAGR of 2.41% during the forecast period. Butter is a high-fat dairy product processed from milk or cream. The growth of the global Butter Market by application is driven by the growth of hotels/restaurants/cafes (HoReCa) industry. However, the rising demand for vegan and plant-based butter is hampering the growth of the market. The increasing investments in R&D for innovation are expected to create lucrative opportunities for market players in the coming years.   

Asia-Pacific accounted for a dominant share of the Butter Market by application in 2018 owing to the growing chocolate industry in the region. India, followed by China, is among the most lucrative markets for manufacturers in the region. The growing HoReCa industry in the region is fueling the market growth for butter in Asia-Pacific. As per the data revealed by the Malaysian Palm Oil Council (MPOC), the hotel and restaurant sector is expected to reach a revenue of USD 908.6 billion by 2020. China, Japan, South Korea, Taiwan, Indonesia, and India are the major investment pockets for the manufacturers of butter to invest. Additionally, the rising demand for convenience food and bakery & confectionery products in Asia-Pacific is yet another determinant that is boosting the consumption of butter in the region.

Key Players

Market Research Future identified Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF/Amul) (India), Arla Foods amba (Denmark), Land O'Lakes, Inc. (US), Lactalis Group (France), Royal FrieslandCampina N.V. (Netherlands), Ornua Co-operative Limited (Ireland), Delta Nutritives (India), Dairy Farmers of America, Inc. (US), Fonterra Co-operative Group (New Zealand), and Organic Valley (US) as the Key Players in the Global Butter Market by application.

Market Segmentation:

By Product Type, the market has been divided into standard butter, clarified butter, whipped butter, and others. The standard butter segment accounted for the maximum market share in 2018, whereas, whipped butter segment is expected to register the highest CAGR of 2.57% during the forecast period. Whipped butter is spreadable butter that is made by adding air to the standard butter. It is light and less dense as compared to the other types of butter. Whipped butter contains fewer calories and lowers fat content as compared to standard butter. Due to the presence of less fat solids in whipped butter, it is not suitable for use in baking applications. Instead, it is used for topping and as a table spread as it melts...

Do you already have an account? Log in here