Report Overview

Butter consumption is driven by increased demand for confectionary and baked goods, which is one of the major factors driving the global butter market. Urbanization and Western influences on cooking methods are other factors driving market growth

The global butter market was worth USD22.1 Billion in 2020 and is further projected to reach USD30.3 Billion by 2027, at a CAGR of 4.8% during 2021-2027 (forecast period). The growing demand for confectionery and bakeries items is one of the reasons driving the growth of the global butter market. The market growth is also attributed to urbanization and the popularity of Western-style cooking methods. Additionally, new substitute products and consumer preference for food products with less artificial ingredients, along with the declining prices of butter are also driving the global butter market. Moreover, promotional campaigns are promoting the use of natural products, which have helped butter manufacturing companies to increase their sales.

Source: BlueWeave Consulting

Global Butter Market Overview

Churned cream is the source of butter, which is made by concentrating its fat and protein ingredients. Butter is commonly made from cow's milk, but it can also be made from the milk of sheep, goats, buffaloes, and yaks. The butter is used in baking and cooking, as well as in sauces, and as a spread for plain and toasted bread products. Butterfat, milk proteins, and water are the parts of butter. Butter is mainly used in retail, however, with the growth of the economy, food-processing industries have also started using it.

 

Growth Drivers

Increasing demand for organic products

The global butter market is expected to see a growth in profits due to a trend of premiumization and increased demand for organic products. Consequently, butter manufacturers are increasingly broadening their product portfolio, which now includes organic butter, flavored butter, and low-sodium butter with low saturated fats. Additionally, consumers are becoming more aware of the benefits of healthy food products, such as butter, and prefer them despite their high prices. Moreover, supermarkets and hypermarkets offer a variety of organic dairy products that are causing customers to spend more on premium and organic food products.

 

Opportunities for the global market

Globalization has brought a variety of opportunities for butter exporters, including the possibility of the increasing demand across the globe. In many countries, research and development have been increasing in order to provide consumers with innovative and high-quality butter products. Development in the bread-and-butter market has opened up global market opportunities for market players. Moreover, with the increasing urbanization and rising per capita income of consumers, butter players are seeing growth opportunities on the global market.

 

Restraints

The demand for ready-to-eat products has been increased among the population, due to the lower market prices of butter and easy availability of different varieties of products in the market. However, increasing consumer health awareness brought a major challenge for the butter market. Due to this, many key players have already started providing healthy substitutes of butter products to serve their customer base better. Diet restrictions have become more common because consumers have become more focused on the ingredients of food products. Furthermore, people have curtailed their butter consumption because it is harmful to their health, which is impeding the growth of the global butter industry.

 

Impact of COVID-19 in the industry

Almost every industry has been disrupted by the COVID-19 outbreak. Milk and butter manufacturers have seen their supply chains disrupted due to declines in consumption during lockdowns imposed by governments around the world. Different countries had restricted the movement of goods across borders, and local manufacturers had to cease production due to a lack of raw materials. Besides government restrictions on the sale of non-essential goods, the fear of infection spreading through manufacturing facilities also hindered the development of the global butter market.

 

Global Butter Market: By Product Type

Based on product types, the global butter market has been segmented into Uncultured butter, Cultured butter, Salted, Whipped, and others. Out of these, the whipped butter segment holds the largest market share. Butter that has been whipped to add air or nitrogen to increase its volume is whipped butter. This process makes the butter much easier to spread. Increasing urbanization and changing lifestyle of consumers, rising preferences towards ready-to-eat foods, and the growth of the food industry across the globe are some of the factors responsible for the increasing popularity of the whipped butter market.

 

Global Butter Market: By Usage

Based on usage, the global butter market is grouped into Spreadable and Non-Spreadable. The spreadable butter segment dominates the market with the largest market share. Butter and oil are combined to make spreadable butter. Since spreadable butter is made of this combination, it has all the flavor of butter and can be spread smoothly on bread right out of the refrigerator. Several factors make spreadable butter popular among consumers in every distribution channel, including its ability to remain soft in cold temperatures, its ability to be consumed directly from the refrigerator, and the availability of multiple flavors and options.

 

Global Butter Market – Regional Insights

Based on the region, the global butter market is grouped into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among all the regions, North America is dominating the global butter market. The growth can be attributed to the high consumer purchasing power and increasing consumer awareness of maintaining a healthy lifestyle. Additionally, due to expanding population and improved standards of life in terms of adopting a healthy diet, Asia Pacific is also noted as a significant market for low-fat butter.

Source: BlueWeave Consulting

Recent Developments

March 2021: In an effort to meet market demand for more sustainable products and assist its customers to reach their sustainability goals, Fonterra has introduced a carbonzero-certified organic butter under the NZMP brand.

 

June 2021: Arla Foods signed a contract with another leading dairy company, Dale Farm, to supply whey protein concentrate for Arla’s global ingredients business. This is the first time the two dairy cooperatives have partnered as part of a major supply contract.

 

Competitive Landscape

The key players in the global butter market are Ornua Co-operative Limited (Ireland), Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF/Amul) (India),Arla Foods amba (Denmark),Dairy Farmers of America, Inc. (the US),Fonterra Co-operative Group (New Zealand),Organic Valley (US),Land O'Lakes, Inc. (the US), Lactalis Group (France), Royal FrieslandCampina N.V. (Netherlands), Delta Nutritives (India), and other manufacturers.

Having a large number of domestic and multinational players contending for the limelight, the global butter market is highly competitive in nature, with product modernization being an important market strategy accepted by major players.

 

Scope

Attribute	Details
Years Considered	Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 2027
Facts Covered	Revenue in USD Billion
Market Coverage	U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, UAE, South Africa, Saudi Arabia
Product/Service Segmentation	By Product Type,By Processing, By Usage, By Distribution Channel, By Region
Key Players	Key players for Global Butter Market are Ornua Co-operative Limited (Ireland), Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF/Amul) (India), Arla Foods amba (Denmark),Dairy Farmers of America, Inc. (the US),Fonterra Co-operative Group (New Zealand),Organic Valley (the US),Land O'Lakes, Inc. (US), Lactalis Group (France), Royal Friesland Campina N.V. (Netherlands), Delta Nutritives (India) and other key manufacturers.

 

• By Product Type

• Uncultured butter
• Cultured butter
• Salted
• Whipped
• Others Non-flavored

• By Processing

• Processed
• Non-Processed

• By Usage

• Spreadable
• Non-Spreadable

• By Distribution Channel

• Convenience Stores
• Supermarkets/Hypermarkets
• Online Retail Stores
• Specialty Stores
• Others

• By Region

• North America
• Latin America
• Europe
• The Asia Pacific
• The Middle East
• Africa

 

1. Research Framework

    1.1. Research Objective

    1.2. Product Overview

1.3. Market Segmentation

2. Research Methodology

    2.1. Qualitative Research

            2.1.1. Primary & Secondary Research

2.2. Quantitative Research

2.3. Market Breakdown & Data Triangulation

           2.3.1. Secondary Research

           2.3.2. Primary Research

    2.4. Breakdown of Primary Research Respondents, By Region

    2.5. Assumption & Limitation

3. Executive Summary

4. Global Butter Market Insights

    4.1. DROC Analysis

           4.1.1. Growth Drivers

           4.1.2. Restraints

           4.1.3. Opportunities

           4.1.4. Challenges

    4.2. Recent Development

    4.3. Porter’s Five Forces Analysis

            4.3.1. Bargaining Power of Suppliers

            4.3.2. Bargaining Power of Buyers

            4.3.3. Threat of New Entrants

            4.3.4. Threat of Substitutes

            4.3.5. Intensity of Rivalry

   4.4 Value Chain Analysis

4.5 Key Strategic Developments

5. Global Butter Market Overview

    5.1. Market Size & Forecast by Value, 2017-2027

            5.1.1. By Value (USD Billion)

    5.2. Market Share & Forecast

5.2.1. By ProductType

5.2.1.1. Uncultured butter

             5.2.1.2. Cultured butter

5.2.1.3. Salted

             5.2.1.4. Whipped

5.2.1.5.Others Non-flavored

5.2.2. By Processing

                 5.2.2.1. Processed

                 5.2.2.2. Non- Processed

5.2.3. By Usage

                 5.2.3.1. Spreadable

                 5.2.3.2. Non-Spreadable

5.2.4. By Distribution Channel

                5.2.4.1. Convenience Stores

                5.2.4.2. Supermarkets/Hypermarkets

                5.2.4.3. Online Retail Stores

                5.2.4.4. Specialty Stores

                5.2.4.5. Others

5.2.5. By Region

5.2.5.1. North America

5.2.5.2. Latin America

5.2.5.3. Europe

5.2.5.4. The Asia Pacific

5.2.5.5. The Middle-East

5.2.5.6. Africa

6. North America Butter Market

6.1. Market Size & Forecast by Value, 2017-2027

              6.1.1. By Value (USD Billion)

         6.2. Market Share & Forecast

          6.2.1. By Product Type

              6.2.2. By Processing

              6.2.3. By Usage

          6.2.4. By Distribution Channel

6.2.5. By Country

   6.2.5.1. United States

                       6.2.5.2. Canada

7. EuropeButter Market

    7.1. Market Size & Forecast by Value, 2017-2027

            7.1.1. By Value (USD Billion)

7.2. Market Share & Forecast

         7.2.1. By ProductType

           7.2.2. By Processing

            7.2.3. By Usage

            7.2.4. By Distribution Channel

7.2.5. By Country

7.2.5.1. Germany

7.2.5.2. Poland

7.2.5.3. Russia

7.2.5.4. Italy

7.2.5.5. France

7.2.5.6. United Kingdom

7.2.5.7. Spain

7.2.5.8. Rest of Europe

8. Asia Pacific Butter Market

 8.1. Market Size & Forecast by Value, 2017-2027

             8.1.1. By Value (USD Billion)

     8.2. Market Share & Forecast

          8.2.1. By ProductType

            8.2.2. By Processing

            8.2.3. By Usage

            8.2.4. By Distribution Channel

8.2.5. By Country

8.2.5.1. China

8.2.5.2. India

8.2.5.3. Japan

8.2.5.4. Malaysia

8.2.5.5. Singapore

8.2.5.6. Rest of Asia Pacific

9. Latin America Butter Market

9.1.    Market Size & Forecast by Value, 2017-2027

             9.1.1. By Value (USD Billion)

    9.2. Market Share & Forecast

          9.2.1. By ProductType

             9.2.2. By Processing

             9.2.3. By Usage

             9.2.4. By Distribution Channel

9.2.5. By Country

9.2.5.1. Brazil

9.2.5.2. Mexico

                 9.2.5.3. Rest of Latin America

10. Middle East & AfricaButter Market

  10.1.Market Size & Forecast by Value, 2017-2027

         10.1.1. By Value (USD Billion)

    10.2. Market Share & Forecast

         10.2.1. By Product Type

         10.2.2. By Processing

         10.2.3. By Usage

         10.2.4. By Distribution Channel

10.2.5. By Country

10.2.5.1. Saudi Arabia

10.2.5.2. UAE

10.2.5.3. South Africa

             10.2.5.4. Rest of Middle East & Africa

11.      Competitive Landscape

     11.1. List of Key Players and Their Offerings

     11.2. Market/Ranking Share Analysis

     11.3. Competitive Benchmarking, By Operating Parameters

12.      COVID-19 Impact

13.      Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)

13.1. OrnuaCo-operative Limited (Ireland)

    13.2. Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF/Amul) (India)

    13.3. Arla Foods amba (Denmark)

    13.4. Dairy Farmers of America, Inc. (the US)

    13.5. Fonterra Co-operative Group (New Zealand)

    13.6. Organic Valley (US)

    13.7. Land O'Lakes, Inc. (US)

    13.8. Lactalis Group (France)

    13.9. Royal Friesland Campina N.V. (Netherlands)

   13.10. Delta Nutritives (India)

    13.11. Other Manufacturers

 

14. Key Strategic Recommendations

 

* Financial information of non-listed Companies will be provided as per availability

 

**The segmentation and the companies are subjected to modifications based on in-depth study during the final deliverable.

 

 

List of Figures

 

 

Fig 1: Global Butter MarketSegmentation

 

Fig 2: Global Butter MarketValue Chain Analysis,

 

Fig 3: Company Market Share Analysis, 2020

 

Fig 4: Global Butter Market Size, By Value (USD Billion), 2017-2027

 

Fig 5: Global Butter Market Share (%), ByProductType, By Value, 2017-2027

 

Fig 6: Global Butter Market Share (%), By Processing, By Value, 2017-2027

 

Fig 7: Global Butter Market Share (%), By Usage, By Value, 2017-2027

 

Fig 8: Global Butter Market Share (%), By Distribution Channels, By Value, 2017-2027

 

Fig 9: Global Butter Market Share (%), By Country, By Value, 2017-2027

 

Fig 10: North AmericaButter Market Size, By Value (USD Billion), 2017-2027

 

Fig 11: North AmericaButter Market Share (%), By ProductType, By Value, 2017-2027

 

Fig 12: North America Butter Market Share (%), By Processing, By Value, 2017-2027

 

Fig 13: North America Butter Market Share (%), By Usage, By Value, 2017-2027

 

Fig 14: North America Butter Market Share (%), By Distribution Channels, By Value, 2017-2027

 

Fig 15: North AmericaButter Market Share (%), By Country, By Value, 2017-2027

 

Fig 16: EuropeButter Market Size, By Value (USD Billion), 2017-2027

 

Fig 17: EuropeButter Market Share (%), By ProductType, By Value, 2017-2027

 

Fig 18: Europe Butter Market Share (%), By Processing, By Value, 2017-2027

 

Fig 19: Europe Butter Market Share (%), By Usage, By Value, 2017-2027

 

Fig 20: Europe Butter Market Share (%), By Distribution Channels, By Value, 2017-2027

 

Fig 21: EuropeButter Market Share (%), By Country, By Value, 2017-2027

 

Fig 22: Asia-Pacific,Butter Market Size, By Value (USD Billion), 2017-2027

 

Fig 23: Asia-Pacific,Butter Market Share (%), By ProductType, By Value, 2017-2027

 

Fig 24: Asia-Pacific, Butter Market Share (%), By Processing, By Value, 2017-2027

 

Fig 25: Asia-Pacific, Butter Market Share (%), By Usage, By Value, 2017-2027

 

Fig 26: Asia-Pacific, Butter Market Share (%), By Distribution Channels, By Value, 2017-2027

 

Fig 27: Asia-Pacific,Butter Market Share (%), By Country, By Value,2017-2027

 

Fig 28: Latin AmericaButter Market Size, By Value (USD Billion), 2017-2027

 

Fig 29: Latin AmericaButter Market Share (%), ByProduct Type, By Value, 2017-2027

 

Fig 30: Latin America Butter Market Share (%), By Processing, By Value, 2017-2027

 

Fig 31: Latin America Butter Market Share (%), By Usage, By Value, 2017-2027

 

Fig 32: Latin America Butter Market Share (%), By Distribution Channels, By Value, 2017-2027

 

Fig 33: Latin AmericaButter Market Share (%), By Country, By Value, 2017-2027

 

Fig 34: Middle East & AfricaButter Market Size, By Value (USD Billion), 2017-2027

 

Fig 35: Middle East & AfricaButter Market Share (%), ByProduct Type, By Value, 2017-2027

 

Fig 36: Middle East & Africa Butter Market Share (%), ByProcessing, By Value, 2017-2027

Fig 37: Middle East & Africa Butter Market Share (%), By Usage, By Value, 2017-2027

 

Fig 38: Middle East & Africa Butter Market Share (%), By Distribution Channels, By Value, 2017-2027

 

Fig 39: Middle East & AfricaButter Market Share (%), By Country, By Value, 2017-2027

 

List of Tables

 

Table 1: Global Butter Market Size, By ProductType, By Value (USD Billion), 2017-2027

 

Table 2: Global Butter Market Size, By Processing, By Value (USD Billion), 2017-2027

 

Table 3: Global Butter Market Size, By Usage, By Value (USD Billion), 2017-2027

 

Table 4: Global Butter Market Size, By Distribution Channels, By Value (USD Billion), 2017-2027

 

Table 5: Global Butter Market Size, By Region, By Value (USD Billion), 2017-2027

 

Table 6: North AmericaButter Market Size, By ProductType, By Value (USD Billion), 2017-2027

 

Table 7: North America Butter Market Size, By Processing, By Value (USD Billion), 2017-2027

 

Table 8: North America Butter Market Size, By Usage, By Value (USD Billion), 2017-2027

 

Table 9: North America Butter Market Size, By Distribution Channels, By Value (USD Billion), 2017-2027

 

Table 10: North AmericaButter Market Size, By Country, By Value (USD Billion), 2017-2027

 

Table 11: EuropeButter Market Size, By ProductType, By Value (USD Billion), 2017-2027

 

Table 12: Europe Butter Market Size, By Processing, By Value (USD Billion), 2017-2027

 

Table 13: Europe Butter Market Size, By Usage, By Value (USD Billion), 2017-2027

 

Table 14: Europe Butter Market Size, By Distribution Channels, By Value (USD Billion), 2017-2027

 

Table 15: EuropeButter Market Size, By Country, By Value (USD Billion), 2017-2027

 

Table 16: The Asia-PacificButter Market Size, ByProductType, By Value (USD Billion), 2017-2027

 

Table 17: The Asia-Pacific Butter Market Size, By Processing, By Value (USD Billion), 2017-2027

 

Table 18: The Asia-Pacific Butter Market Size, By Usage, By Value (USD Billion), 2017-2027

 

Table 19: The Asia-Pacific Butter Market Size, By Distribution Channels, By Value (USD Billion), 2017-2027

 

Table 20: The Asia-PacificButter Market Size, By Country, By Value (USD Billion), 2017-2027

 

Table 21: Latin AmericaButter Market Size, By ProductType, By Value (USD Billion), 2017-2027

 

Table 22: Latin America Butter Market Size, By Processing, By Value (USD Billion), 2017-2027

 

Table 23: Latin America Butter Market Size, By Usage, By Value (USD Billion), 2017-2027

 

Table 24: Latin America Butter Market Size, By Distribution Channels, By Value (USD Billion), 2017-2027

 

Table 25: Latin AmericaButter Market Size, By Country, By Value (USD Billion), 2017-2027

 

Table 26: The Middle-East & AfricaButter Market Size, By ProductType, By Value (USD Billion), 2017-2027

 

Table 27: The Middle-East & Africa Butter Market Size, By Processing, By Value (USD Billion), 2017-2027

 

Table 28: The Middle-East & Africa Butter Market Size, By Usage, By Value (USD Billion), 2017-2027

 

Table 29: The Middle-East & Africa Butter Market Size, By Distribution Channels, By Value (USD Billion), 2017-2027

 

Table 30: The Middle-East & AfricaButter Market Size, By Country, By Value (USD Billion), 2017-2027

Table 31: OrnuaCo-operative Limited (Ireland)Financial Analysis

Table 32: OrnuaCo-operative Limited (Ireland)Business Overview

Table 33: Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF/Amul) (India) Financial Analysis

Table 34: Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF/Amul) (India) Business Overview

Table 35: Arla Foods amba (Denmark) Financial Analysis

Table 36: Arla Foods amba (Denmark) Business Overview

Table 37: Dairy Farmers of America, Inc. (the US)Financial Analysis

Table 38: Dairy Farmers of America, Inc. (the US) Business Overview

Table 39: Fonterra Co-operative Group (New Zealand) Financial Analysis

Table 40: Fonterra Co-operative Group (New Zealand)Business Overview

Table 41: Organic Valley (US) Financial Analysis

Table 42: Organic Valley (US)Business Overview

Table 43: Land O'Lakes Inc. (US) Financial Analysis

Table 44: Land O'Lakes Inc. (US) Business Overview

Table 45: Lactalis Group (France) Financial Analysis

Table 46: Lactalis Group (France) Business Overview

Table 47: Royal FrieslandCampina N.V. (Netherlands) Financial Analysis

Table 48: Royal FrieslandCampina N.V. (Netherlands) Business Overview

Table 49: Delta Nutritives (India)Financial Analysis

Table 50: Delta Nutritives (India)Business Overview