The clarified butter market is projected to achieve a 9.4% compound annual growth rate (CAGR), aiming for a global market value of USD 6.11 billion by 2033, compared to an anticipated USD 2.49 billion in 2023. Globalization has been instrumental in enhancing the worldwide acceptance of clarified butter. Today’s consumers, spanning generations, exhibit a profound interest in food, actively exploring diverse flavors and nutritional benefits.
Advancements in global trade have reduced barriers, allowing regional culinary ingredients to circulate more freely, offering consumers a wider array of options. Evolving taste preferences and a growing focus on nutritional benefits have created new avenues for dairy producers to introduce diverse varieties of clarified butter globally, thereby fueling the expansion of the clarified butter market.
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Key Takeaways
- In the nature category, the conventional segment is anticipated to record 8.8% CAGR and reach US$ 3.15 billion by 2033.
- More than 55% of global income came from the traditional sector of nature category.
- Over 85% of global revenue was generated through offline distribution channels.
- From 2023 to 2033, the CAGR of 12.1% is anticipated for the online retail stores segment of the clarified butter market.
- With a share of more than 45% throughout the course of the forecast period, Asia Pacific became the dominant clarified butter market.
- The significant CAGR of 14.8% is predicted for Europe between 2023 and 2033.
- By 2033, China is anticipated to have a projected market worth US$ 1,799.72 million, recording 14.3% CAGR.
- An estimated US$ 513.2 million is spent on the clarified butter market in the United States.
- From 2023 to 2033, Japan and Canada market are expected to expand at respective rates of 4.9% and 8.3%.
- Germany is anticipated to register a CAGR of 6%.
Competitive Landscape
Leading companies in the global clarified butter market are Organic Valley, Roil Foods Ltd., Verka USA, Grassland Dairy Products, Inc., Netherend Farm Ltd., Amul, Avera Foods (Pty) Ltd., Nordic Creamery, Grassland Dairy Products Inc., Beneficial Blends LLC, and Lurpak.
The main prospects for clarified butter producers globally are new developments in food packaging and expanding markets in emerging nations.
Recent Development
- Investment
To expand distribution channel and innovation in product line, 4th & heart closed a US$ 7.6 million funding steered by Harbinger Ventures, a capital investor. Similar to this, IndoCan Honey Pvt Ltd funded of US$ 1 million to NutriMoo, a firm that also produces dairy products and clarified butter.
- Launch
In Andhra Pradesh, India, Heritage Foods Limited opened its first official store in 2018. This tactical move was intended to increase its regional footprint within the nation.
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Key Segments
By Nature:
- Conventional
- Organic
By Packaging Type:
- Jars
- Tubs
- Tins
By Distribution Channel:
- Online
- Offline
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Asia
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