Apple
Butter Market: Introduction
Contrary
to its name apple butter does not contain any traces of dairy-based
ingredient as its preparation involves no dairy products, however,
the term butter is used to define its butter-like physical
characteristics and its application as a spread. Apple butter is a
traditional condiment originating in the Europe and also being used
traditionally in North America. Apple butter is a fruit butter which
is prepared from apples that can be either fresh, frozen, or dried in
addition with other ingredients such as cider, spices, sweeteners
etc. by a long duration of slow cooking until the sugar present in
the mixture caramelizes, giving apple butter its characteristic deep
brown colour. Majority of the manufacturers add apple cider as an
ingredient in the preparation of apple butter to improve its flavour
and acid content. Addition of apple cider also provides the similar
taste of apple butter which is produced by traditional or
old-fashioned methods, thus enhancing the palatability of the product
and increasing the demand for apple butter among the consumer.
Furthermore, many key players also add a small amount of vinegar and
spices such as cinnamon, cloves, nutmeg etc. to give their product a
distinct character, which helps them in differentiating their
products from the others. In the recent years, preference for
traditional condiments that date back is steadily regaining traction
among various consumers worldwide. Thus, consumers around the world
have been developing a taste for dishes that contain condiments such
as apple butter and this is a key factor expected to drive the growth
of the apple butter market over the forecast period.
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Apple
Butter Market: Segmentation
Global
Apple Butter market can be segmented on the basis of nature, grade,
packaging, distribution channel, and region.
On
the basis of nature, the apple butter market can be segmented into
organic and conventional. The organic segment is expected to exhibit
substantial growth rate in the global apple butter market owing to
its preference by the ever-increasing health-conscious consumer base.
However, the conventional apple butter segment is expected to
dominate the market with moderate demand owing to its lesser cost.
On
the basis of grade, the apple butter market can be segmented into
grade A, grade C, and substandard grade. On the basis of packaging,
apple butter market is segmented into glass jars, cans and others.
Jars segment is expected to dominate the market over the forecast
period, as the glass jar, being transparent enables excellent product
visibility, thereby scoring more in terms of consumer satisfaction.
Moreover, they also provide premium feel and aesthetics to the final
product. On the basis of distribution channel, apple butter market is
segmented into modern grocery retailers, traditional grocery
retailer, and online stores. Modern grocery retailer segment is
further sub-segmented into hypermarkets/supermarket, convenience
stores, mom and pop stores, and discount stores. Traditional grocery
retailers segment is further sub-segmented into food & drink
speciality stores, independent small groceries and others.
Apple
Butter Market: Dynamics
Increasing
urbanization has led an explosive growth of ready-to-eat and
ready-to-cook food products worldwide owing to the hectic lifestyles
of consumers. In addition, consumers are also developing taste for
traditional cuisine, condiments, sauces etc. as consumer perceive
them to be more nutritional and minimally processed, which is
expected to drive the growth of apple
butter market over the forecast period. However, lower shelf
visibility of apple butter in many countries of APAC, Latin America,
and MEA region, owing to the low concentration of manufacturers
coupled with lower consumer awareness of apple butter is anticipated
to restrain the growth of global apple butter market over the
forecast period. Furthermore, apple butter is highly susceptible to
spoilage and thus to prevent the growth of the harmful microorganism,
many manufacturers add chemical preservatives and high fructose corn
syrup, thus creating a negative impact among health-conscious
consumers and is expected to hamper the growth of apple butter market
in the near future.
Apple
Butter Market: Regional Outlook
On
the basis of the regional outlook, apple butter market is segmented
into five different regions: North America, Latin America, Europe,
Middle East and Africa and Asia Pacific. On analyzing the Apple
Butter market at the global level, North America is expected to
dominate the apple butter market followed by Europe, owing to
increasing traction of apple butter products as it being consumed
traditionally.
Apple
Butter Market: Key Player:
Some
of the major players operating in apple butter market include Eden
Foods Inc., Musselman's, SHILOH FARMS, Walden Farms International,
White House Foods, The J. M. Smucker Company, Knoblock and Company,
Colorado Cherry Company and other regional players.
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