Global Butter Market

Butter Market Size, Share, Growth Analysis, By Product(Cultured Butter, Uncultured Butter and Others), By Distribution Channels(Offline and Online) - Industry Forecast 2024-2031

Report ID: SQMIG30I2304 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 60 | Figures: 77

Butter Market News

  • In October 2022, the natural nut butter business EATNOW from Singapore announced its plans to expand to Malaysia and China in 2023. The business intends to start selling black sesame seed spread on online marketplaces by 2023 in addition to its regular almond and cashew nut butter.
  • In June 2022, Fresh butter was introduced to the market by the reputed FMCG company Cavin's brand. CavinKare is based in Chennai. The company now sells table butter and frying butter as its two available forms of butter.
  • In April 2022, the organic carbon zero-certified butter, which has been independently certified by Toit Envirocare to decrease and offset carbon emissions, was introduced by the New Zealand Dairy Cooperative and Anchor Fonterra.
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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).

In addition to regional producers, the market is dominated by a number of well-known companies, including Lactalis International, Fonterra Co-operative Group, Ornua Co-operative Ltd, and Organic Valley. In order to grow their businesses, a variety of manufacturers and suppliers concentrate on the logistical development and improvement of the distribution channel. To boost sales and market share, major businesses are also emphasising brand development, product innovation, and launches. 'Fonterra Co-operative Group - New Zealand', 'Arla Foods - Denmark', 'Lactalis Group - France', 'Royal FrieslandCampina - Netherlands', 'Dairy Farmers of America - United States', 'Ornua Co-operative Limited - Ireland', 'Amul - India', 'Land O'Lakes - United States', 'Megmilk Snow Brand - Japan', 'Murray Goulburn - Australia', 'DMK Group - Germany', 'Saputo - Canada', 'Agropur Cooperative - Canada', 'Glanbia plc - Ireland', 'Bel Group - France', 'Westland Milk Products - New Zealand', 'Lácteos Brasil - Brazil', 'Saputo Dairy Australia - Australia', 'Milkiland - Ukraine', 'Sodiaal - France', 'Hochwald Foods - Germany', 'Strauss Group - Israel'

The butter market has seen a surge in innovative packaging options such as resealable pouches, convenient butter sticks, and butter in tubes. These packaging innovations have helped to increase the convenience and accessibility of butter to consumers.

The butter market has seen an increased focus on product innovation, including the introduction of flavored butters, spreadable butter, and butter blends. Manufacturers are also investing in packaging innovations to make butter more convenient and accessible to consumers.

By geographic market revenue share for butter, Asia Pacific led the world. In terms of market revenue in 2021, Asia Pacific accounted for over 45% of the butter market. The increased population, primarily from China and India, is largely to blame for this. About half of the world's population resides in Asia and the Pacific, according to United Nations statistics. The larger market share held by the Asia Pacific region is attributed to its vast consumer base and high consumption of fast food, baked goods, and other processed foods.

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Global Butter Market

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