Butter
and Margarine Market: Overview
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.
Download
the Butter and
Margarine Industry
Fact Sheet by
2023:http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=4780
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.
Butter
and Margarine Market: Trends and Opportunities
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.
Butter
and Margarine Market: Region-wise Outlook
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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