Butter Market Size and Growth Rate:
Butter Market was valued xx billion in 2018 and expected to be growing at a CAGR of 4.84% to reach xx billion by 2023.
Butter Market Overview:
Butter is a dairy product made by churning cream or milk. It can be utilized like a spread and as a natural ingredient in cooking. From a nutritional point of view, butter is an excellent source of protein. It contains saturated fat made from the fresh cream and milk. Butter is one of the crucial ingredients of confectionary products. Nevertheless, with the dropping costs of butter, the competition between substitute products has intensified. The demand for spreadable butter has been increasing slowly in developing countries, as it is used in several food products.
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Butter Market Drivers and Restraints:
The demand for natural products has increased, which in turn drives the butter market. An increase in disposable incomes, particularly in developing countries, is another driver of this market. In developed countries, product innovation and the increased home baking further boost the market. Availability of healthy alternatives to butter, such as margarine, along with government regulations in the production and distribution of butter restrain the market growth. Growing demand in developing countries can be considered as an opportunity for this market.
Butter Market Report segmented as:
By Processing:
• Processed
• Non –processed
By Type:
• Under cultured
• Uncultured
• Cream
• Whipped
• Whey
• Salted
By Usage:
• Under spreadable
• Non- spreadable
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Butter Market Geographical Analysis:
The global market is segmented into a different region, namely North America, Europe, Asia-pacific, and Rest of the world. North America led the butter market, Asia-pacific is estimated to be the quickest growing market throughout the forecast period, with China and India being the key markets. Rising disposable incomes and change in customer preferences are the main reasons for the growth of the butter market in Asia-Pacific.
Important market players of Butter Market:
Some of the major players in the world butter market include Amul, Arla Foods UK Plc., Kraft Foods, Inc., Frieslandcampina, Dean Foods Company, Farmers Cooperative Creamery, Land O Lakes, and Nestle SA.
The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
Apart from the syndicated report, our in-house team has expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
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