Butter and Margarine Market Growth Analysis: Industry Trends, Consumer Preferences, and Future Outlook by 2034

Butter and Margarine Market
Butter and Margarine Market

As per the FMI’s updated research market report, sales of butter and margarines garner a current valuation of US$ 4,885.40 million in 2024. As the competitiveness of the market rises, butter and margarine manufacturers focus on product differentiation and diverse marketing strategies to secure a broader share among transitioning consumer demands.

Going by this pattern, the butter and margarine market amplifies and equates to a market valuation of US$ 8,935.40 million, with a steady CAGR of 6.2% by 2034.

Butter and Margarine are vital ingredients of confectionery items. Over the years, butter and margarine have become necessities in every household, owing to nutritional value and the rise in demand for convenience food. While butter is a dairy product, margarine is a non-dairy product capable of substituting it in the global market.

Although there is a difference in the taste and properties, their substituting nature is a boost for the industry. Consumers who aren’t buoyant enough to purchase butter from the market can make a switch to margarine since it’s cheap and serve the same purpose of enriching the tastes as butter.

Butter and Margarine Market Driven by Increase in Disposable Income

The significant growth witnessed in the butter and margarine market is due to the rise in consumers’ disposable income globally. The increase in income has improved the purchasing power of consumers globally, and this will facilitate the growth in butter and margarine supply in the global market.

Also, change in consumers’ lifestyle is another force driving the industry forward. Consumers’ often go for food products that require little time for preparation to save time after an hectic day. Butter and margarine are convenient food products since they can be consumed anywhere at any time. For instance, individuals with tight schedules at their office can take butter or margarine along with them to working place to apply on bread or any other food product for consumption.

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 global butter and margarine market is threatened by the increase in health awareness programs regarding the side effects of the consumption of margarine, and the rise in obesity. This factor is expected to restrain the butter and margarine global market. However, consumers might be shifting towards the consumption of butter, but due to its high cost, consumers will have to shun the market. And this will cause the market to decline in growth.

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.

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.

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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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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