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Global Butter Market Size, Analysis, Growth, Forecast: By Type: Salted Butter, Unsalted Butter; By Usage: Spreadable, Non-spreadable; By End Use: Food Processing, Food Service, Food Retail; By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Butter Market Outlook
The global butter market size reached approximately USD 49.43 billion in 2023. The market is projected to grow at a CAGR of 3.20% between 2024 and 2032, reaching a value of around USD 65.67 billion by 2032.
Butter is one of the most popular dairy products produced by churning cream or milk. The process is carried out by mechanically stirring the cream, causing the fat molecules to cluster together and form butter. The leftover liquid is called buttermilk. The resulting butter is then typically washed and kneaded to remove excess liquid and improve texture. The final product is usually available in salted or unsalted variants.
Butter primarily consists of butterfat, water, and milk proteins. The standard butter composition is about 80% butterfat, with the remaining 20% being water and milk solids. Butter is high in saturated fats but also contains vitamins like A, E, and D. It is also a source of cholesterol and has traces of proteins and carbohydrates.
Butter has been a staple in many cultures for thousands of years. It holds significant cultural importance in regions like Europe and South Asia. Butter is a major commodity in the dairy sector. Its market is influenced by factors like dietary trends, agricultural practices, and international trade.
Key Trends in the Market
Growing health-consciousness among consumers
The shifting consumer preference towards healthy and organic food is one of the major factors aiding the global butter market growth. Consumers are increasingly seeking naturally derived ingredients due to their perceived benefits over heavily processed foods. The current trend of valuing natural components has led to a surge in the popularity of dairy items, including butter, that do not contain any additives.
Consumers are also increasingly seeking out organic and grass-fed butter options. These products are perceived as healthier due to their natural production methods and higher nutritional content, such as increased levels of Omega-3 fatty acids. Diets such as Keto, which emphasise high fat and low carbohydrate intake, have also bolstered the demand for butter, as it is a key source of fat in these diets.
Companies are responding to these consumer preferences with innovations in butter products, such as the introduction of organic variants, to attract health-conscious consumers.
The burgeoning popularity of packaged butter owing to its convenience
Packaged butter has emerged as a high-demand product in various retail outlets, showcasing impressive sales figures. The onset of the COVID-19 pandemic has prompted a considerable shift towards home-based cooking and baking activities among consumers. This behaviour change has substantially propelled the global butter market demand in both advanced economies and emerging markets.
Packaged butter also offers convenience, an essential factor for today's fast-paced lifestyles. It is easy to store, transport, and use, which makes it appealing for both individual consumers and food service businesses. Packaged butter benefits from the widespread distribution networks of supermarkets, hypermarkets, and online grocery platforms. The ease of distribution and the growing trend of online shopping have made it more accessible to consumers, thereby increasing demand.
With packaged butter, consumers and businesses can expect a consistent level of quality. The packaging process often includes stringent quality checks, ensuring that the butter meets certain standards. This reliability can enhance brand trust and loyalty, driving market demand.
The rising trend of culinary globalisation
Culinary globalisation has led to the fusion of flavours and ingredients from around the world. Butter has become a canvas for these global inspirations, with manufacturers and chefs experimenting with flavours that reflect diverse cuisines. Hence, one of the major global butter market trends is the growing addition of spices, herbs, and even unconventional ingredients like seaweed and truffles in dairy products.
The trend of fusion cooking, which combines elements from different culinary traditions, can lead to innovative uses of butter. For example, the incorporation of butter into traditionally non-butter cuisines (like some Asian cuisines) can increase its market demand. The expansion of global restaurant chains and the standardisation of their menus contribute to the uniformity in the use of ingredients, including butter.
The global reach of food media including TV shows, food blogs, and social media has a significant impact on consumer food choices. When these platforms feature recipes or cooking techniques that use butter, they can influence a wide audience to try these methods, thereby increasing butter consumption.
Butter Market Segmentation
Based on type, the market is segmented into salted butter and unsalted butter. On the basis of usage, the market can be divided into spreadable and non-spreadable. The market segmentation, based on end use, includes food processing, food service, and food retail.
The market, based on distribution channels, is categorised into supermarkets/hypermarkets, convenience stores, and online, among others. The major regional markets for butter are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global butter market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.
- Lactalis International
- Land O’Lakes, Inc.
- Fonterra Co-operative Group Limited
- Royal FrieslandCampina N.V.
- Arla Foods amba
- Gujarat Co-operative Milk Marketing Federation Ltd (AMUL)
- Dairy Farmers of America, Inc.
- Müller Group
- Ornua Co-operative Limited
- Organic Valley
- Meadow Foods Limited
- Others
Market Share by Type
Among the different types of butter available worldwide, salted butter holds a major portion of the global butter market share. This can largely be attributed to its widespread acceptance and popularity among consumers across the globe. Salted butter is commonly found in retail stores and food service establishments, typically packaged for convenience.
One of the advantages of salted butter is its longer shelf life compared to unsalted varieties, making it easier to preserve. Moreover, the addition of salt not only enhances the flavour but also contributes to the overall texture of the butter.
In cooking and baking, salted butter is frequently used for its ability to add both fat and a touch of saltiness to dishes. It is a convenient option when a recipe calls for butter and salt, simplifying the cooking process. Many consumers grow up with a preference for salted butter, often influenced by regional or cultural dietary habits. In some regions, salted butter is the standard, influencing consumer demand.
In the food service sector, salted butter is widely used due to its flavour and versatility. Restaurants, bakeries, and cafes often prefer salted butter for its consistent quality and taste.
Market Share by End-Use
According to the global butter market analysis, the food retail sector is experiencing rapid growth, due to its wide presence. These channels serve as a solid foundation for the sale of packaged butter. The segment has witnessed substantial expansion in recent times due to the surge in home-based cooking and baking endeavours.
Supermarkets, hypermarkets, and other food retail outlets make butter easily accessible to a vast consumer base. Retailers often offer a wide range of butter products, catering to different consumer preferences. This includes various types of butter like salted, unsalted, organic, grass-fed, and flavoured variants. The availability of such a diverse range enhances consumer choice and can lead to increased sales.
Strategic placement of butter in retail stores, like near the bakery section or at checkout counters, can encourage impulse purchases. Visibility in stores plays a significant role in influencing consumer buying behaviour.
Competitive Landscape
Lactalis International, founded in the year 1999, is a division of the Lactalis Group, one of the largest dairy companies in the world. Lactalis Group is headquartered in France and is known for its extensive range of dairy products, including cheese, milk, yoghurt, butter, and other dairy-based products. Lactalis Group operates globally and has a strong presence in numerous countries.
Land O’Lakes, Inc. operates as a cooperative and is owned by its farmer members. These members supply the cooperative with agricultural products such as milk, grain, and livestock. In return, they receive various benefits, including dividends and access to services and resources provided by the cooperative. Since its foundation in the year 1921, the company has developed and provided a diverse range of products that span the agricultural and food sectors.
Fonterra Co-operative Group Limited is a prominent multinational dairy company headquartered in New Zealand. Renowned for its status as one of the largest dairy exporters globally, Fonterra operates under a unique cooperative model, with ownership shared among thousands of New Zealand dairy farmers who supply the company with milk.
Other key players in the butter market include Royal FrieslandCampina N.V., Arla Foods amba, Gujarat Co-operative Milk Marketing Federation Ltd (AMUL), Dairy Farmers of America, Inc., Müller Group, Ornua Co-operative Limited, Organic Valley, and Meadow Foods Limited, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Usage |
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| Breakup by End Use |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Butter Market Analysis
8.1 Key Industry Highlights
8.2 Global Butter Historical Market (2018-2023)
8.3 Global Butter Market Forecast (2024-2032)
8.4 Global Butter Market by Type
8.4.1 Salted Butter
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Unsalted Butter
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Butter Market by Usage
8.5.1 Spreadable
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Non-spreadable
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Butter Market by End Use
8.6.1 Food Processing
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Food Service
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Food Retail
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Butter Market by Distribution Channel
8.7.1 Supermarkets/Hypermarkets
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Convenience Stores
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Online
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Others
8.8 Global Butter Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Butter Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Butter Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Butter Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Butter Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Butter Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code – 040510)
15.1 Major Exporting Countries
15.1.1 By Value
15.1.2 By Volume
15.2 Major Importing Countries
15.2.1 By Value
15.2.2 By Volume
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Lactalis International
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Land O’Lakes, Inc.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Fonterra Co-operative Group Limited
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.3.5 Certifications
17.2.4 Royal FrieslandCampina N.V.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Arla Foods amba
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Gujarat Co-operative Milk Marketing Federation Ltd (AMUL)
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Dairy Farmers of America, Inc.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Müller Group
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Ornua Co-operative Limited
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Organic Valley
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Meadow Foods Limited
17.2.11.1 Company Overview
17.2.11.2 Product Portfolio
17.2.11.3 Demographic Reach and Achievements
17.2.11.4 Certifications
17.2.12 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Butter Market: Key Industry Highlights, 2018 and 2032
2. Global Butter Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Butter Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Butter Historical Market: Breakup by Usage (USD Billion), 2018-2023
5. Global Butter Market Forecast: Breakup by Usage (USD Billion), 2024-2032
6. Global Butter Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Butter Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Butter Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
9. Global Butter Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
10. Global Butter Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Butter Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Major Exporting Countries by Value
23. Major Importing Countries by Value
24. Major Exporting Countries by Volume
25. Major Importing Countries by Volume
26. Global Butter Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 49.43 billion.
The market is projected to grow at a CAGR of 3.20% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 65.67 billion by 2032.
The market is guided by the shifting consumer preference towards organic products and the high demand for the product from retail outlets.
The growth of the market is propelled by the globalisation of cuisines and the increasing demand for packaged butter.
The major regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different distribution channels for the product include supermarkets/hypermarkets, convenience stores, and online, among others.
The key players in the market are Lactalis International, Land O’Lakes, Inc., Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Arla Foods amba, Gujarat Co-operative Milk Marketing Federation Ltd (AMUL), Dairy Farmers of America, Inc., Müller Group, Ornua Co-operative Limited, Organic Valley, and Meadow Foods Limited, among others.
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