Global Butter and Margarine Market: Prosperity of Food Industry Augmenting Demand, says TMR

While the margarine market continues to gain from the prosperity of the food industry, the demand for butter is escalating too owing to consumer preference for healthy food to compensate their restless lifestyle and poor eating habits, according to a recent report by Transparency Market Research (TMR). The report, titled “Butter and Margarine Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” anticipates this shift in consumer preference to significantly influence the future of market for butter and margarine. The report is a quantitative and qualitative analysis of the current scenario of the global market for butter and margarine, and aspires to serve as a credible business document for identities venturing in this market’s value chain. Among the key features of the report is the section on company profiles, in which several prominent vendors of butter and margarine have been studied for their products, regional presence, global shares, and latest strategic developments.

The report finds that for nearly four decades, butter was blamed for several ill-effects such as heart diseases, obesity, and high cholesterol but in the recent past, it is now perceived as more healthy in comparison to margarine as it is more natural, and hence the uptake is escalating. Moreover, the report also credits increasing disposable income among the urban population across the world as another prominent reason driving the global butter and margarine market, apart from the thriving food industry. Product innovation, with which applications in cooking and baking is increasing, is another factor augmenting the demand for butter and margarine. However, government regulations regarding the manufacturing and marketing of these products as healthy for consumption, growing obesity problems, and escalating health concerns are some of the factors hindering the market from attaining its full potential.

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On the basis of usage, the global market for butter and margarine can be categorized into spreadable and non-spreadable. By product type, this market can be categorized into cream and whipped butter, cultured butter, uncultured butter, liquid margarines, butter margarines, and other margarine varieties. Geographically, the global butter and margarine market can be bifurcated into several regions including North America, Asia Pacific, Europe, Latin America, and the Middle East.

AMUL India, Farmers Cooperative Creamery, Arla Foods, Deam Foods Company, OJSC Creative Group, Friesland Campina, and Kraft Foods are some of the leading companies currently operational in the global butter and margarine market. The competition in this market is quite stiff with the presence of several country-wide and regional players, although the key companies are ahead of the curve with their established brand name, regular product innovation, and aggressive marketing.

Global Butter and Margarine Market: Rising Purchasing Power and Declining Prices Driving Consumer Demand, notes TMR

The demand for butter and margarine rides on the rising disposable incomes of the consumers, notes Transparency Market Research in a report titled “Butter and Margarine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015–2023”. Although the improving purchasing power and standards of living of the consumers are indicative of the projected growth of the butter and margarine market, increasing concerns over the prevalence of obesity are likely to restrict the market’s development through the forecast period.

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Government restrictions pertaining to the manufacturing and marketing of butter and margarine also pose a restraint to the overall growth. In addition to this, the availability of substitutes threatens the market. Nevertheless, the falling prices of these products have upped their consumption in most developing countries and this offers players immense scope for growth.

Based on usage, the butter and margarine market can be bifurcated into spreadable and non-spreadable. By product type, the market comprises cream and whipped butter, liquid margarines, cultured and uncultured butter, butter margarines, and others. The demand for butter is relatively higher and the sales of margarine takes a hit owing to the inclusion of additives.

The global market for butter and margarine can be segmented on the basis of geography into North America, Asia Pacific, Europe, and Rest of the World. North America accounts for a significant share in the overall market in terms of revenue and is likely to retain its positive streak throughout the forecast period. The butter and margarine market in the region is fueled by the high consumption of baked and packaged foods.

Asia Pacific is projected to exhibit healthy growth over the coming years, with China and India emerging as the front-runners. The rapidly growing economies in these countries has resulted in an increase in disposable income. This, in turn, has enabled consumers to increase their spending on luxury food items such as desserts, pastries, and confectionery. This, combined with the declining prices of margarine and butter, is projected to lead to higher sales in APAC.

The report includes a dedicated section on the competitive landscape of the butter and margarine market. The key vendors operating in this market, both domestic and international, have been identified and profiled in detail. Aspects such as company and business overview, financial standing, product portfolio, recent developments, and business strategies have been taken into account while assessing the current and future performance of these companies. The top companies participating in the global butter and margarine market include Dean Foods Company, Kraft Foods, AMUL India, Farmers Cooperative Creamery, Arla Foods, OJSC Creative Group, and FrieslandCampina.

Butter and Margarine Market-Global Industry Analysis,Competitive Insight & Key drivers; Research Report 2015 – 2023

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.

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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.

Butter and Margarine Market : Research Report 2015-2023

Margarine is used as a substitute of butter, but the taste and properties varies a lot. Butter consists of water, proteins and butterfat whereas margarine is made up of refined vegetables oil, at times animal fat. Butter and margarine are used for baking and cooking or as spreads in a variety of dishes to improve its taste.

Higher consumption of margarine in developing countries is the key driver driving the market for global butter and margarine market. In addition, growing food service industry and lot of product innovation are the other factors responsible for the growth in demand of butter and margarine market. Apart from this, changing consumer habits is also contributing to the increasing demand for butter and margarine market globally. There is increase in demand for butter and margarine market due to shift in consumer preference from processed food to natural food. Moreover, increasing home baking trends drives the demand for butter and margarine market.

Increasing number of cases of obesity and rising health concern are the major factors restraining the demand for butter and margarine globally. There is decrease in the consumption of butter and margarine in developed region due to heath awareness program and increasing obesity. In addition, government regulation in different region for butter and margarine is also expected to restrain the demand for the global butter and margarine market.

Global butter and margarine market by usage is segmented into two categories based on consumption including non-spreadable and spreadable. By product type the butter and margarine market is segmented into whipped and cream butter, uncultured butter, cultured butter, liquid margarines, butter margarines and others margarine. Demand for margarine is less in comparison to butter as margarine consists of additives.

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The global butter and margarine market is expected to see robust growth in the forecast period. Leading industries such as BakeMark UK introduced baking fats that are used in pastries and cakes. Baking fat includes of butter and margarine. Some margarine companies supported their products by highlighting that their goods lack trans fat. North America held the largest market share in terms of revenue. Increasing consumption of butter and margarine due to number of innovative products in the market is expected to drive the butter and margarine market of North America over the forecast period Asia Pacific is anticipated to register the highest growth over the forecast period. Increasing consumption of margarine in developing countries is expected to drive the butter and margarine market of Asia Pacific over the forecast period. In Asia Pacific, China holds the leading position followed by India. Decreasing price between butter and margarine in China and India is expected to drive the market for butter and margarine during the forecast period.

The global butter and margarine market is fragmented with huge number of small companies dominating the market. However, there is a presence of some large corporations. Some of the key players operating in the butter and margarine market are Farmers Cooperative Creamery, Arla Foods, Kraft Foods, OJSC Creative Group, AMUL India, Deam Foods Company and Friesland Campina.

Developing Nations to Push Growth of Butter and Margarine Market; Products with Low Trans Fats to Fare Well

High sales of margarine in developing countries will act as a high-impact driver for the global butter and margarine market, says Transparency Market Research in a new report. In the report, titled, ‘Butter and Margarine Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015–2023,’ the report also credits the growing trend of home baking as a factor impelling the consumption of these two products. Moreover, the growth in the food service industry in emerging economies will lead to a rise in the demand for butter and margarine. As compared to butter, the demand for margarine is lower as the latter comprises additives.

Margarine is often used as a substitute for butter but its flavor and properties are not the same as the latter. This difference in their properties stems from the difference in the ingredients that go into the preparation of butter and margarine. While butter primarily consists of protein, butterfat, and water, margarine comprises refined vegetable oil and in some instances, animal fat. Both margarine and butter are used as cooking ingredients or simply as a spread over baked items.

Although changing food habits will augur well for the growth of the global butter and margarine market, companies will face impediments with health-conscious consumers cutting back on the consumption of fatty food products. Companies have been countering this threat with the launch of low-fat butter and margarine variants. Nevertheless, the popular association between butter and obesity will pose a challenge that can only be overcome by clever marketing and novel product launches. Consumers are especially averse to consuming trans fats, and companies that launch products sans trans fats have a better chance at improving sales.

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The report segments the global margarine and butter market on the basis of usage into two broad segments: spreadable and non-spreadable. Likewise, based on the product type, the market for butter and margarine is segmented into the following segments: cultured butter, uncultured butter, whipped and cream butter, butter margarine, liquid margarine, and others.

According to the report, the future of the global butter and margarine market is promising. Moreover, the launch of innovative products that combine the benefits of butter and margarine (e.g.: baking fats for use in cake and pastries) will help the market acquire new customers.

The report identifies North America as the largest market for butter and margarine in revenue terms. From the standpoint of growth rate, the Asia Pacific market is expected to report the highest rate of growth. China is an extremely attractive market, followed only by India.

Besides the small local companies that constitute an appreciable portion of the butter and margarine market, there are a few leading companies with a wide geographical presence. These include: Arla Foods, Farmers Cooperative Creamery, OJSC Creative Group, Kraft Foods, Deam Foods Company, AMUL India, and Friesland Campina.