The Global Butter Market was valued at UЅD $51,342.4 Мn in 2020 and is projected to register а САGR of 4.7% over the next 10 years.
Statistical Information About Butter Market is 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, as well as existing market entrants. The report presents a thorough study of revenues, key developments, strategies, historical data and information by major players that offer crucial perspectives/insights into various market scenarios. The global butter market has been segmented on the basis of butter type, distribution channel, as well as regions and countries.
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In recent years, a growing number of individuals are becoming more aware of the benefits of eating and living healthy, and are changing their preferences accordingly. To capitalize on this, several key industry players are continually investing towards further R&D activities to develop low-fact, low-cholesterol, and healthier products. This is slated to have a significant impact on the revenue growth of the global butter market in the foreseeable future.
Butter is dairy product that is 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, which is almost entirely butterfat.
However, in light of the COVID-19 outbreak, the manufacturing and supply-chain operations of key industry players have been either temporarily shut down or are functioning with a minimal workforce. This is expected to have a negative impact on this global market in the near future.
Nonetheless, several key industry players are pursuing potential mergers & acquisitions to strengthen their global presence through the expansion of their sales and distribution networks, as well as by strengthening their respective product portfolios. This is also slated to have a positive influence on the revenue growth of the global butter market in the coming years.
Segmentation of the global butter market is as follows:
On the basis of butter type, the cultured butter segment accounted for the highest number of 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 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 rate of revenue growth over the next 10 years.
The Asia Pacific region accounted for the majority 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 number of revenue shares of this global market in 2020, and are indicative of continuing to do so over the next decade.
Key industry players of the global butter market 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.), among others.