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Butter Market Size, Share & Trends Analysis Report By Product (Cultured Butter, Uncultured Butter), By Distribution Channel (Offline, Online), By Region, And Segment Forecast, 2022 - 2028

May 2022 | 70 pages | ID: B55B65226D9FEN
Grand View Research, Inc.

US$ 3,950.00

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Butter Market Growth & Trends

The global butter market size is expected to reach USD 61.94 billion by 2028, registering a CAGR of 2.6% from 2022 to 2028, according to a new report by Grand View Research, Inc. The increasing demand and changing consumer preferences for milk products are major drivers of the global market growth. Moreover, the expansion of the fast-food industry is anticipated to propel the growth of the global butter market. Butter is increasingly being used as an ingredient in fast and junk food preparation and frying. Butter contributes significantly to the taste of the food, making it more flavorful. In the culinary world, the sensory characteristics of the butter are the main factor driving the consumption and fondness. Butter exhibits more desired and rich flavor to the food, as well as other flavors also enhance.

The COVID-19 pandemic impacted the global food and foodservice industry for a short duration. Across the globe, governments imposed lockdowns and restrictions to tackle the increasing rate of infection. This significantly affected the supply chain of the raw materials as the majority of the milk suppliers are mainly small farm owners. These small farm owners were unable to transport collected milk and/or store it successfully due to a lack of facility. This subsequently affected the global production and selling of butter, declining the market growth. However, the market is expected to witness promising growth over the forecast period, owing to the relaxed restrictions and resumed market activities.

By product, the uncultured butter segment is expected to grow with the fastest growth rate, a CAGR of 2.9% from 2022 to 2028. Uncultured butter is an excellent choice for baking purposes as it has a neutral flavor and does not alter the flavor profile. The increasing consumption of bakery and confectionery products is expected to drive the demand for the uncultured butter segment and propel the market growth over the forecast period. Moreover, the growing popularity and demand for this product in North America is accelerating the market growth.

By distribution channel, the online segment is expected to grow with the highest CAGR of 3.5% in the global market over the forecast period. The growth of online distribution channels is attributed to the emergence of new online platforms and e-commerce portals for grocery items. For instance, as reported in May 2020, various startups are gaining popularity in the European market. Also, as reported on 7th July 2020, Uber launched an online grocery delivery service. The company partnered with Cornershop, an on-demand grocery delivery service, and is offering grocery delivery services in South America and Canada, which can be availed through both Uber and Uber Eats App. The company is also planning expansion to new regions.

The Asia Pacific accounted for the largest market revenue share in the global market in 2021. In the global butter market, Asia Pacific recorded around 45% market revenue share in 2021. This is significantly attributed to the huge consumer base and higher consumption of butter through bakeries, confectionery, and other food products, as well as through direct consumption. The higher population of the region, mostly contributed by China, and India is credited for the higher consumer demand. Moreover, the region is expected to grow with the highest CAGR owing to the increasing disposable income and rising population.

Butter Market Report Highlights
  • Europe is expected to register the highest growth rate, a CAGR of 2.9% over the forecast period. Increasing production of bakery products and rising demand for butter in the region is expected to drive the market growth
  • Cultured segment is expected to witness the fastest growth with a CAGR of 2.7% over the forecast period due to the growing popularity of dairy products
  • Offline channel held the largest market revenue share in 2021, contributing more than 80% to the global butter market. This is attributed to the higher consumer preference and the majority of the retailer opting for the offline channels
CHAPTER 1. METHODOLOGY AND SCOPE

1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
  1.3.1. Purchased Database
  1.3.2. GVR’s Internal Database
  1.3.3. Secondary Sources & Third-Party Perspectives
  1.3.4. Primary Research
1.4. Information Analysis
  1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing

CHAPTER 2. EXECUTIVE SUMMARY

2.1. Market Outlook
2.2. Product Outlook
2.3. Distribution Channel Outlook
2.4. Regional Outlook

CHAPTER 3. BUTTER MARKET VARIABLES, TRENDS & SCOPE

3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.4. Technology Overview
3.5. Regulatory Framework
3.6. Market Dynamics
  3.6.1. Market Driver Analysis
  3.6.2. Market Restraint Analysis
  3.6.3. Industry Challenges
3.7. Business Environment Analysis
  3.7.1. Porter’s Analysis
    3.7.1.1. Threat of New Entrants
    3.7.1.2. Bargaining Power of Suppliers
    3.7.1.3. Bargaining Power of Buyers
    3.7.1.4. Threat of Substitutes
    3.7.1.5. Competitive Rivalry
  3.7.2. PESTLE Analysis
    3.7.2.1. Political Landscape
    3.7.2.2. Environmental Landscape
    3.7.2.3. Social Landscape
    3.7.2.4. Technology Landscape
    3.7.2.5. Economic Landscape
    3.7.2.6. Legal Landscape
  3.7.3. Major Deals & Strategic Alliance Analysis
3.8. Market Entry Strategies
3.9. COVID-19 Impact Analysis

CHAPTER 4. CONSUMER BEHAVIOR ANALYSIS

4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations

CHAPTER 5. BUTTER MARKET: PRODUCT ESTIMATES & TREND ANALYSIS

5.1. Product Movement Analysis & Market Share, 2021 & 2028
5.2. Cultured Butter
  5.2.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
5.3. Uncultured Butter
  5.3.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
5.4. Others
  5.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)

CHAPTER 6. BUTTER MARKET: DISTRIBUTION CHANNEL ESTIMATES & TREND ANALYSIS

6.1. Distribution Channel Movement Analysis & Market Share, 2021 & 2028
6.2. Offline
  6.2.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
6.3. Online
  6.3.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)

CHAPTER 7. BUTTER MARKET: REGIONAL ESTIMATES & TREND ANALYSIS

7.1. Regional Movement Analysis & Market Share, 2021 & 2028
7.2. North America
  7.2.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
  7.2.2. Market Estimates and Forecast, By Product, 2017 - 2028 (USD Million)
  7.2.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  7.2.4. U.S.
    7.2.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
    7.2.4.2. Market Estimates and Forecast, By Product, 2017 - 2028 (USD Million)
    7.2.4.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
7.3. Europe
  7.3.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
  7.3.2. Market Estimates and Forecast, By Product, 2017 - 2028 (USD Million)
  7.3.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  7.3.4. Germany
    7.3.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
    7.3.4.2. Market Estimates and Forecast, By Product, 2017 - 2028 (USD Million)
    7.3.4.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  7.3.5. U.K.
    7.3.5.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
    7.3.5.2. Market Estimates and Forecast, By Product, 2017 - 2028 (USD Million)
    7.3.5.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  7.3.6. France
    7.3.6.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
    7.3.6.2. Market Estimates and Forecast, By Product, 2017 - 2028 (USD Million)
    7.3.6.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
7.4. Asia Pacific
  7.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
  7.4.2. Market Estimates and Forecast, By Product, 2017 - 2028 (USD Million)
  7.4.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  7.4.4. China
    7.4.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
    7.4.4.2. Market Estimates and Forecast, By Product, 2017 - 2028 (USD Million)
    7.4.4.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  7.4.5. India
    7.4.5.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
    7.4.5.2. Market Estimates and Forecast, By Product, 2017 - 2028 (USD Million)
    7.4.5.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  7.4.6. Japan
    7.4.6.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
    7.4.6.2. Market Estimates and Forecast, By Product, 2017 - 2028 (USD Million)
    7.4.6.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
7.5. Central & South America
  7.5.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
  7.5.2. Market Estimates and Forecast, By Product, 2017 - 2028 (USD Million)
  7.5.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  7.5.4. Brazil
    7.5.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
    7.5.4.2. Market Estimates and Forecast, By Product, 2017 - 2028 (USD Million)
    7.5.4.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
7.6. Middle East & Africa
  7.6.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
  7.6.2. Market Estimates and Forecast, By Product, 2017 - 2028 (USD Million)
  7.6.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  7.6.4. South Africa
    7.6.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
    7.6.4.2. Market Estimates and Forecast, By Product, 2017 - 2028 (USD Million)
    7.6.4.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)

CHAPTER 8. COMPETITIVE ANALYSIS

8.1. Key Players’ Recent Developments & their Impact
8.2. Strategies Adopted by Major Players during COVID-19 pandemic
8.3. Vendor Landscape
8.4. Public Companies
  8.4.1. Company Market Position Analysis
8.5. Private Companies
  8.5.1. List of Key Emerging Companies/Technology Disruptors/Innovators

CHAPTER 9. COMPANY PROFILES

9.1. Lactalis International
  9.1.1. Company Overview
  9.1.2. Financial Performance
  9.1.3. Product Benchmarking
  9.1.4. Strategic Initiatives
9.2. Fonterra Co-operative Group
  9.2.1. Company Overview
  9.2.2. Financial Performance
  9.2.3. Product Benchmarking
  9.2.4. Strategic Initiatives
9.3. Ornua Co-operative Limited
  9.3.1. Company Overview
  9.3.2. Financial Performance
  9.3.3. Product Benchmarking
  9.3.4. Strategic Initiatives
9.4. Organic Valley
  9.4.1. Company Overview
  9.4.2. Financial Performance
  9.4.3. Product Benchmarking
  9.4.4. Strategic Initiatives
9.5. Dairy Farmers of America, Inc.
  9.5.1. Company Overview
  9.5.2. Financial Performance
  9.5.3. Product Benchmarking
  9.5.4. Strategic Initiatives
9.6. Amul Dairy
  9.6.1. Company Overview
  9.6.2. Financial Performance
  9.6.3. Product Benchmarking
  9.6.4. Strategic Initiatives
9.7. Meadow Foods Ltd.
  9.7.1. Company Overview
  9.7.2. Financial Performance
  9.7.3. Product Benchmarking
  9.7.4. Strategic Initiatives
9.8. Arla Foods amba
  9.8.1. Company Overview
  9.8.2. Financial Performance
  9.8.3. Product Benchmarking
  9.8.4. Strategic Initiatives
9.9. MS Iceland Dairies
  9.9.1. Company Overview
  9.9.2. Financial Performance
  9.9.3. Product Benchmarking
  9.9.4. Strategic Initiatives
9.10. M?ller
  9.10.1. Company Overview
  9.10.2. Financial Performance
  9.10.3. Product Benchmarking
  9.10.4. Strategic Initiatives

LIST OF TABLES

1. Butter Market - Key Market Driver Analysis
2. Butter Market - Key Market Restraint Analysis
3. Global Cultured Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
4. Global Uncultured Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
5. Global Others Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
6. Global Offline Butter Market Estimates and Forecast By Distribution Channels, 2017 - 2028 (USD Million)
7. Global Online Butter Market Estimates and Forecast By Distribution Channels, 2017 - 2028 (USD Million)
8. Global Butter Market Estimates and Forecast By Region 2017 - 2028 (USD Million)
9. Global Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
10. Global Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
11. North America Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
12. North America Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
13. North America Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
14. U.S. Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
15. U.S. Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
16. U.S. Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
17. Europe Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
18. Europe Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
19. Europe Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
20. Germany Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
21. Germany Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
22. Germany Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
23. U.K. Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
24. U.K. Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
25. U.K. Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
26. France Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
27. France Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
28. France Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
29. Asia Pacific Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
30. Asia Pacific Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
31. Asia Pacific Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
32. China Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
33. China Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
34. China Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
35. India Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
36. India Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
37. India Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
38. Japan Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
39. Japan Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
40. Japan Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
41. Central & South America Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
42. Central & South America Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
43. Central & South America Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
44. Brazil Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
45. Brazil Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
46. Brazil Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
47. Middle East & Africa Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
48. Middle East & Africa Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
49. Middle East & Africa Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
50. South Africa Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
51. South Africa Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
52. South Africa Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
53. Rest of Middle East & Africa Butter Market Estimates and Forecast, 2017 - 2028 (USD Million)
54. Rest of Middle East & Africa Butter Market Estimates and Forecast By Product, 2017 - 2028 (USD Million)
55. Rest of Middle East & Africa Butter Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
56. Vendor Landscape

LIST OF FIGURES


List of Figures

1. Butter Market Snapshot
2. Butter Market Segmentation & Scope
3. Butter Market Penetration & Growth Prospect Mapping
4. Butter Market Value Chain Analysis
5. Butter Market Dynamics
6. Butter Market Porter's Analysis
7. Butter Market: Product Movement Analysis
8. Butter Market: Distribution Channel Movement Analysis
9. Butter Market: Regional Movement Analysis


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