The global butter market is expected to exhibit a strong 4.52% CAGR over the forecast period from 2020 to 2027, according to the latest research report from Market Research Future (MRFR). The global butter market is expected to reach a valuation of USD 27,879.1 million by 2027, according to MRFR.

Butter is widely used in bakery products such as butter cookies as an ingredient as well as a spread with bread and other bakery products. Other butter-based products such as buttermilk are also widely consumed around the world, further giving impetus to the global butter market. Organic butter is also a key trend in the global butter market and is expected to gain strength over the forecast period. The growing demand for products such as butter cookies and buttercream is also likely to be a major driver for the global butter market over the forecast period.

Competitive Analysis:

The global key butter market players include Challenge Dairy Products Inc., Kerrygold USA, Darigold, Organic Valley, Carrington Farms, Amul, Britannia Industries Limited, Ornua Co-operative Limited, Royal FrieslandCampina N.V., The J.M. Smucker Company, Land O’Lakes Inc., Farmers Cooperative Creamery, Dean Foods Company, Danone SA, and Arla Foods.

Segmentation:

The global butter market has been segmented based on category, product type, distribution channel, and region.

By category, the global butter market has been bifurcated into salted and unsalted.

Based on product type, the global butter market has been classified as whipped butter, clarified butter, cultured butter, and others. 

On the basis of distribution channel, the global butter market has been categorized as store-based and non-store-based. The store-based segment is further sub-segmented into supermarkets and hypermarkets, convenience stores, and others. Store-based distribution is likely to remain dominant in the global butter market due to the presence of refrigeration in stores, which is a crucial requirement for selling butter.

Regional Analysis:

North America is the major regional market for butter, led by the U.S., and is likely to remain the leading revenue generator in the market over the forecast period. The presence of major players in the U.S. and their constant support to product innovations in the butter market is likely to remain the major driver for the butter market in North America over the forecast period. Butter is widely used in North America due to the widespread consumption of bread and other bakery products. The preparation of bakery products consumes butter on a large scale, which is a major driver for the butter market in the region. Bakery products such as cakes, pastries, and others are likely to remain highly popular in the North American market over the forecast period, leading to a growing demand from the butter market. Butter is also commonly eaten with bread, either toasted or plain, as a spread. This is also likely to remain a major driver for the butter market in North America over the forecast period, as the consumption of bread is quite high in North America and is likely to further grow over the forecast period.

Europe is also a major market for butter and is likely to hold on to this position over the forecast period. Europe also witnesses widespread consumption of bread as a breakfast, snack, and meal item, leading to the growing consumption of butter along with the bread. The growing demand for butter as an accompaniment to bread is likely to be a major driver for the butter market in Europe over the forecast period. The growing demand for vegan butter and nut butters such as almond butter is also likely to be a major driver for the butter market in Europe over the forecast period. Vegan butter is likely to play a key role in development of the butter market in Europe, as the demand for vegan foods is rising in Europe and is likely to witness a steady growth over the forecast period. Vegan butter has emerged as a major part of the vegan movement in Europe, due to the widespread consumption of butter.

Asia Pacific is also likely to remain a major regional market for butter over the forecast period. Growing interest in home baking among the population in India, China, Japan, and other ASEAN countries is likely to be a major driver for the butter market in Asia Pacific over the forecast period. Growing demand for local brands such as Amul is also likely to remain a key factor in the growth prospects of the butter market in Asia Pacific over the forecast period.

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