The demand for flavored butter and oils is projected to generate US$ 498.5 million by the end of 2023. A market of US$ 930.8 million is expected to be reached between 2023 and 2033, along with a CAGR of 6.4%. With a wide variety of flavors to choose from, flavored butter and oils captivate adventurous palates with a wide array of unique and global flavor profiles. Individuals with dietary restrictions can enjoy a wider range of flavor options with flavored butter and oils, such as vegan, gluten-free, or lactose-free.
Food trends and culinary exploration have been significantly influenced by social media platforms. Popular platforms like Instagram and TikTok like flavored butter and oils due to their attractive visual appearances. Middle-class consumers are more willing to explore upscale culinary products, such as gourmet butter and oils, marketed as premium items. Butter and oils flavored with flavors are big business in the restaurant and catering industries. As a result, chefs are often interested in finding these products in order to enhance the flavor and presentation of their food.
Specialty butter and oils in attractive packaging are popular gift ideas during the festive season. Gifts such as these make thoughtful and unique choices. Using flavor-infused butter and oils relieves users of the burden of the time-consuming marinating and seasoning processes. A time-saving cooking solution is highly regarded in busy urban lifestyles.
Key Takeaways from the Market Study
- The flavored butter and oil market is predicted to reach US$ 899.3 million by 2032.
- Butter and oil with flavored ingredients accounted for 479.1% of the market in 2022.
- The demand for flavored oils and butter grew at a CAGR of 5.4% between 2018 and 2022.
- Butter and oil flavored with aromas registered a 6.6% CAGR in 2022 in the United Kingdom.
- Salted flavored butter and oils markets witness a growth rate of 80.3% value share in 2022.
- The Japanese market accounted for 4.2% of the global market by the end of 2022.
- A total of 40.5% of the global market for herb-flavored butter and oil was reported in 2022.
- By 2022, milk & dairy applications held a 34.4% revenue share in the flavored butter and oils market.
“Experimental fusion food and growing culinary industries should drive demand over the next few years. Expanding sales by optimizing branding techniques and educating consumers about dietary restrictions and veganism to grow the market.” says an FMI analyst.
Competitive Landscape
The flavored butter and oil business is undergoing a growth spurt as more companies establish strategic partnerships and collaborate with other companies.
Research and development, innovation, product development, geographic expansion, and strategic partnerships are common activities among the major players in the flavored butter and oil market.
- In July 2023, Blue Diamond Growers replaced the 6-ounce can of Chilé ‘n Lime with a completely new flavor. Walmart and Blue Diamond Nut & Gift Shops will carry Honey Butter Flavored Almonds starting in six months, along with an online store at www.bluediamondstore.com. These snack almonds are reminiscent of Korean honey butter chips and boast an equally smooth honey and butter flavor.
- In August 2023, McDonald’s unveiled a new McFlurry peanut butter crunch flavor. With this new McFlurry flavor, crunchy cereal mix will be paired with chunks of chocolate peanut butter cookie.
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Flavored Butter and Oils Market by Category
By Product Type:
- Salted
- Unsalted
By Flavoring Type:
- Herb
- Spices
- Roots
- Citrus
- Vegetable
- Others
By Application:
- Milk and Dairy
- Bakery Products
- Value-added Food & Beverages
- Dips & Sauces
- Blends & Seasonings
By Distribution Channel:
- Store-based Retailing
- Hypermarkets and Supermarkets
- Convenience Stores
- Specialty Stores
- Discounters
- Forecourt Retailers
- Online-based Retailing
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