Butter and Margarine Market: Overview, Trends Opportunities and Region-wise Outlook
Butter and margarine are vital ingredients of confectionary products. Over the years, they have become an indispensable part of households and daily diets. Margarine, a non-dairy product, is often substituted for butter, as it a cheaper alternative when the cost has to be contained. Butter, on the other hand, is a dairy product and is used for making and baking several dishes.
The research report by Transparency Market Research details the drivers and restraints of butter and margarine market. The report has been studied using market measurement tools such as a SWOT analysis and a Porter’s five forces analysis. The former provides an examination of the strengths, weaknesses, opportunities, and threats impacting the segments of the global butter and margarine market. On the other hand, the latter tool defines the intensity of the competitive rivalry, bargaining power of suppliers and buyers, and threats to the new entrants. The research report aims towards answering questions pertaining to the growth of the market, its value, and scope in the coming few years.
The global butter and margarine market has been thriving due to the rising disposable incomes of the overall population. The growing incomes have improved the purchasing power of consumers across the globe, which has had a direct impact on butter sales. The changing consumer habits due to the blurring price difference between butter and margarine has also played a crucial role in the uptake of butter in recent years.
The various types of butter available in the market are butter margarine, uncultured butter, whipped and cream butter, liquid margarine, cultured butter, and others margarine. The introduction of a wide range of flavors in butter and product innovation have also been pivotal to the rise of this market over the past couple of years. The market has also flourished as consumption of packaged food items such as cookies, cakes, biscuits, macaroons, meringues, and other confectionary items have been on the upswing. Meanwhile, the demand for margarine is expected to remain high in developing countries, where consumers are price conscious of their purchases. However, the rising awareness amongst consumers about the ill-effects of long-term consumption of butter and margarine is expected to dissuade the market growth.
In terms of geography, the global butter and margarine market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Of these, North America held the dominant stance in the global market in terms of revenue. The region is expected to retain this dominance in the coming years due to significant consumption of butter and margarine as the preference for packaged food and baked items remains consistently high.
Analysts also predict that Asia Pacific is expected to show remarkable progress in the overall market in the coming few years. India and China are anticipated at the forefront of the region’s growth due to strengthening economies that are allowing consumers to spend lavishly on meals. The plummeting prices of butter and margarine are also anticipated boost the demand for these products in the near future.
Key Players Mentioned in the Report
Some of the key players operating in the global butter and margarine market are Arla Foods, Farmers Cooperative Creamery, Deam Foods Company, OJSC Creative Group, Kraft Foods, AMUL India, and Friesland Campina.
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