Market Research Report
Butter Market Growth, Trends and Forecasts (2020 - 2025)
|Butter Market Growth, Trends and Forecasts (2020 - 2025)|
Published: April 1, 2020
Mordor Intelligence Pvt Ltd
Content info: 110 Pages
Delivery time: 2-3 business days
Global butter market is growing at a CAGR of 3.9% during the forecast period (2019-2024).
Increase In Demand For Low Fat/Calorie/Cholesterol Butter
Awareness of excessive butter fat intake which can lead to cardiovascular diseases, have led to a shift in the category of low fat, low cholesterol and low-calorie butter. Brands such as Amul, Fonterra and Arla Foods have introduced butter of low fat and cholesterol to meet the consumers need in the market. As per th data given by the Office for National Statistics (UK), there is a significant increase in sales volume of low-fat butter (not exceeding 85% by weight) in the year 2017.
Asia-Pacific Region Is The Fastest Growing Market
As per the US Department of Agriculture and Economic Research Service, India is the leading butter producing country in 2018, producing 5.6 million metric tons of butter. The Asia-Pacific butter supply has always been highly influenced, in increasing quantities, by the domestic market, mainly by the confectionery and bakery industry. Butter processing plants in the Asia-Pacific region have been significantly expanding to meet the consumers demand, and therefore fueling the market growth.
The global butter market is considerably competitive in nature having large number of domestic and multinational player competing for market share and with innovation in products being a major strategic approach adopted by leading players. Additionally, merger, expansion, acquisition and partnership with other companies are the common strategies to enhance the company presence and boost the market.