The butter and margarine market is evolving to cater to changing consumer preferences and health-conscious trends. Butter is cherished for its natural richness and flavor, while margarine offers a more affordable option with potential health advantages. Manufacturers are responding to the demand for trans-fat-free and plant-based margarine products. In 2022, the market is expected to be worth US$4,285.4 billion, and it’s forecasted to grow at a 6.6% CAGR, reaching US$8,135.4 billion by 2032.
The Butter and Margarine market is a dynamic landscape driven by evolving consumer preferences and culinary trends. Butter, a traditional favorite, is valued for its rich flavor and natural appeal. Margarine, on the other hand, offers a lower-cost alternative with potential health benefits. As health consciousness rises, manufacturers are innovating to create trans-fat-free and plant-based margarine options.
Demand for butter and margarine is expected to reach US$4,285.4 billion in 2022 and is projected to increase at a CAGR of 6.6% to US$8135.4 billion from 2022 to 2032.
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Confectionery products require components like butter and margarine. As convenience foods have become more and more popular, butter and margarine have evolved over time from being luxuries to needs in every home. Margarine, a non-dairy product, can replace butter on the worldwide market even though butter is a dairy product.
Although flavour and quality can vary, the industry benefits from their substitutability. Margarine can be used in place of butter for customers who lack the courage to buy it from the store because it is less expensive and does the same flavor-enhancing tasks.
Butter and Margarine Market Driven by Increase in Disposable Income
The huge rise in disposable income among consumers worldwide is to blame for the sharp rise in demand for butter and margarine. The improvement in consumer purchasing power brought on by increased incomes would help the increase in the supply of butter and margarine on the global market.
Another aspect that is enhancing the sector is how customers live their lives. In order to save time after a busy day, consumers typically choose food products that require less preparation time. Due to their versatility, foods like butter and margarine are useful. Those with busy work schedules, for instance, can bring butter or margarine with them to spread on bread or any other food item before eating it.
Increasing Application in End User Sector
Butter is used to produce a variety of food products such as cake, biscuits, cookies, macaroons, and other confectionery items. And this has affected the market positively with the rise in demand for confectionery products among consumers.
Butter and Margarine Market Restraints
The surge in health awareness campaigns about the negative consequences of margarine intake and the rise in obesity pose a challenge to the worldwide butter and margarine market. This element is anticipated to limit the global market for butter and margarine. The trend towards butter consumption among consumers may be changing, but because butter is so expensive, consumers will have to avoid the market. And as a result, the market’s growth rate will slow.
Furthermore, government stringent regulations such as licensing, labeling, and many others on manufacturing and marketing of food products like butter and margarine are projected to hamper the growth of the industry. Also, the rise in obesity among consumers’ has a negative impact on growth of the market over the foreseeable period.
Butter and Margarine Market: Regional Analysis
Europe and North America regions dominate the global butter and margarine market in terms of total revenue and are projected to continue with this pace because of the rise in consumption of baked items, which are processed with butter and margarine among consumers. Europe remains the largest consumer of margarine followed by North America, Asia Pacific, South America, and Africa.
The Asia Pacific will witness remarkable growth in the butter and margarine market over the foreseeable period with India and China acting as drivers. Individuals in China and India are expected to increase the demand for food products processed from butter and margarine due to the rise in per capita income. The Middle East is a small market and is expected to register a moderate growth over the forecast period.
Butter and Margarine Market: Competitive Landscape
- Arla Foods
- Farmers Cooperative Creamery
- Deam Foods Company
- OJSC Creative Group
- Kraft Foods
- AMUL India
- Friesland Campina.
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Report Highlights
The research report presents a comprehensive assessment of market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data and projections with suitable set of assumptions and methodology. Research report provides analysis and information by categories such as market segments, geographies, types, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Butter and Margarine Market Segment Analysis :
The global butter and margarine market can be segmented on the following basis:
By Type
- Traditional margarine
- Liquid margarine
- Other
By Usage
- Spreadable
- Non-spreadable
By Distribution Channel
- Retail
- Industrial
- Food Service
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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