Asia-Pacific Butter Market Share, Growth, Regional Demand, Trend, Outlook with Forecast
Butter Market Overview
The butter market is expected to reach
USD 28.58 BN by 2032, registering 4.52% CAGR throughout the forecast period
(2023-2032). The market demonstrates lucrative
opportunities for industry players in developed and developing regions due to
the increasing demand for organic products. Besides, the growing numbers of
health-conscious populaces impact market growth.
The Asia-Pacific butter market is witnessing rapid growth, driven by the increasing adoption of Western dietary habits and the rising disposable income of consumers. Butter is used in Asia-Pacific in a variety of culinary applications, including baking, cooking, and as a spread. The market in Asia-Pacific is characterized by the presence of both domestic and international butter brands offering a variety of products to cater to the diverse preferences of consumers.
The butter market is growing rapidly, witnessing a massive demand across the globe. Market growth is attributed to widely spreading awareness about the health benefits of butter and buttermilk. Besides, growing uses of butter in applications such as bakery & confectionery and dairy & frozen desserts boost the market growth. Moreover, advances in manufacturing (churning) technologies escalate market growth on the global front.
Also, the rising popularity of functional
and energy drinks hugely substantiates the market demand. Moreover, rising
consumer preference for dairy protein products accelerates the market growth.
Increasing innovative product launches such as flavored butter, low-calorie
& low-fat butter, etc., boost the growth of the market.
Additionally, wide applications of butter,
ranging from bakery to functional foods, increase the market size. Conversely,
factors such as the rising veganism and preference for plant-based protein
products and prevalence of lactose intolerance are estimated to hamper the
growth of the market.
Global Butter Market - Competitive
Landscape
Highly competitive, the butter market
appears fragmented with the presence of many well-established players. Industry
players focus on strengthening their global footprints by expanding their
presence and launching innovative products. Mergers & acquisitions, brand
reinforcement, and innovation remain key trends for these players to gain a
larger competitive share. They strive to develop cost-competitive manufacturing
techniques to reduce the overall product cost, minimize downtime, and increase
shelf life.
Manufacturers try to enhance their products
with innovations that help maintain and/or reduce heart disease, cholesterol,
and hypertension. These players emphasize more on delivering unique products
with differentiation, making products with improved shelf-life.
Major Players:
The butter key market players include Arla
Foods Amba (Denmark), Gujarat Co-operative Milk Marketing Federation Ltd.
(GCMMF/Amul) (India), Land O'Lakes, Inc. (US), Royal FrieslandCampina N.V.
(Netherlands), Lactalis Group (France), Ornua Co-operative Limited (Ireland),
Dairy Farmers of America, Inc. (the US), Delta Nutritives (India), Organic
Valley (US), and Fonterra Co-operative Group (New Zealand), among others.
Global Butter Market - Segment
The butter
market report is segmented into five dynamics.
By Product Type : Standard Butter, Clarified Butter, Whipped Butter,
and others.
By Category :
Salted and Unsalted.
By Form :
Spreads, Liquid/Oil, Blocks, and others.
By End-Use :
Food Processing (Bakery & Confectionery, Dairy & Frozen Desserts,
Sauces, Dressings, & Spreads, others), Foodservice, Food Retail, and
others.
By Regions :
Asia Pacific, Americas, Europe, and the Rest-of-the-World.
Industry/Innovation/Related News:
July 01, 2020 ----- Minneapolis-based the Syndicate Fund rebranded to Bread & Butter
Ventures. While many investors say sheltering has broadened their funding in
companies located outside major hubs, this firm is increasingly backing
startups in America.
Considering the growth of the Twin Cities'
startup ecosystem, the firm has rebranded and invested USD 10 MN in assets
under management in three of Minneapolis's biggest strengths, such as
agriculture and food, health care, and enterprise software. Also, the Agtech
interest spans the entire spectrum from farming to restaurants and grocery
stores. The firm is also interested in the supply chain and logistics around
food, a mix of software, hardware, and biosciences.
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