PUBLISHER: Allied Market Research | PRODUCT CODE: 1365599
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365599
According to a new report published by Allied Market Research, titled, "Butter Powder Market," The butter powder market was valued at $376.70 million in 2022, and is estimated to reach $643.8 million by 2032, growing at a CAGR of 5.5% from 2023 to 2032.
The butter powder market is segmented into nature, by flavor, distribution channel, and region. By nature, the market is divided into conventional and organic. By flavor, the market is segregated into cocoa, almond, peanuts, and others. On basis of distribution channel, It is categorized into supermarket/hypermarket, convenience store, B2B, specialty store, and online store. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, United Arab Emirates, South Africa, Saudi Arabia, and rest of LAMEA).
The impact of the COVID-19 outbreak was moderate on the growth of the butter powder market. Trade restrictions and lockdown ceased the activities carried out in production and manufacturing units. Conversely, the recovery of the butter powder market is expected in the near future.
The demand for butter powder has escalated significantly across North America and Europe owing to its longer shelf life, non-perishability, and heat stability. In addition, the powder adds a rich, creamy essence to seasonings, sauces, and snacks, thus enhancing the flavor and fragrance of the meals. It functions as a flavoring agent, a source of fat, or a butter substitute in the products to meet consumer expectations for components that are ready to use. Because it can fit with the convenience food trend and provide consumers with delicious, easy-to-use substitutes that deliver the soothing taste of butter, several businesses include butter powder in their product lineups. Moreover, butter powder finds its major application in the food industry due to multiple benefits associated with it. For instance butter powder can be added into a range of food products such as bread, cakes, cookies, muffins, and other baked goods. It also improves texture and moisture content as well as adds a deep buttery flavor. Moreover, in confectioneries, it imparts a smooth, creamy texture to chocolates, thus intensifying the taste. Furthermore, the demand for butter powder has increased due to a variety of nutritional characteristics that cater to consumers' demands and tastes.
Lactose-intolerant consumers prefer using butter powder made from clarified butter. This is attributed to the fact that the clarified butter contains less lactose than regular butter, thus serving as a healthier alternative for individuals suffering from lactose intolerance. Moreover, some consumers use butter powder as a low-fat replacement for real butter. In these situations, butter powder made from low-fat milk is preferred. In addition, the availability of flavors such as chocolate, almond, peanut, and cashew along with others demonstrated that they were a healthy substitute for traditional butter powder.
However, availability alternatives in the market limits the demand for butter powder, thus resulting in a fierce competition. For instance, margarine and other spreads made from vegetable oils and fats serve as healthier alternatives to butter powder as they have low fat content. Dietary changes and consumer preferences have an impact on the market; thus, it is important for butter powder makers to effectively differentiate their products. Moreover, the market for butter powder has been impacted by changes in the cost of raw materials. Butter powder is made from milk fat-derived dehydrated butter. Consequently, variations in the cost and availability of raw materials, particularly milk, have a significant effect on the industry. Furthermore, changes in the price of raw materials have a direct influence on producers of butter powder. Increase in the cost of milk or milk fat raises the overall expenses related to producing butter powder. Thus, the aforementioned factors are anticipated to restrain the market expansion.
The major players operating in the butter powder industry are Garden of Life, BetterBody Foods, PB2 Foods, Inc., Nutricost, Powbab, Betty Lou's Inc., Z Natural Food, LLC, Nutrient Survival, Hoosier Hill Farm, and Laita.
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