Global Table Butter Market to Reach US$ 78.2 Billion by 2028, Impelled by Various Product Innovations

IMARC Group’s latest report, titled “Table Butter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global table butter market size reached US$ 45.1 Billion in 2022. Table butter is one of the most commonly consumed dairy products prepared by churning fresh or fermented cream or milk to separate the butterfat from the buttermilk. It also contains other ingredients, such as common salt, annatto, carotene for adding color, and diacetyl as a flavoring agent. It remains solid under refrigeration; however, it softens to a spreadable consistency at room temperature and melts into a liquid form at a higher temperature. It is rich in calcium, antioxidants, phosphorus, riboflavin, niacin, and vitamins A, B, and E. When consumed in moderation, it helps strengthen the immune system, supports heart health, and protects cells against damage from free radicals. As a result, table butter is widely used to add flavor to food and as a basic ingredient in the food industry.

Global Table Butter Market Trends:

The rising awareness about various nutritional elements in table butter, including manganese, chromium, iodine, zinc, copper, selenium, and vitamins D and K, represents the primary factor driving the market growth. This can be attributed to the shifting dietary preferences and growing health consciousness among individuals. Additionally, due to its rich creaminess and taste, the surging adoption of table butter in the preparation of a variety of dishes, such as bakery goods and fried foods, and as a spread on toasted products and a condiment on cooked items has escalated the product demand. In line with this, the developments in the food industry, coupled with various product innovations, are propelling market growth. Besides this, the leading manufacturers are introducing novel flavors and varieties in table butter to cater to different tastes and preferences of a vast consumer base. For instance, the launch of dairy-free, low-fat and -calorie, organic, unsalted, slightly salted, and goat milk product variants to attract the rapidly expanding health-conscious and vegan population is positively influencing product sales. Furthermore, the rising investments by key players in aggressive promotional activities, such as digital marketing and celebrity endorsements, to increase their product reach have catalyzed market growth. Other factors, including the growing popularity of western cuisines, the emerging trend of home baking, increasing consumer expenditure capacities, surging consumption of bakery and confectionery products, and easy product availability, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 78.2 Billion by 2028, expanding at a CAGR of 11.6% during 2023-2028.

Market Summary:

• On a geographical front, the market has been divided into European Union (EU), North America, Eastern Europe, Oceania, Latin America, and Asia.
• The competitive landscape of the market has also been analyzed, with some of the key players being Lactalis International, Nestlé S.A., Dairy Farmers of America Inc., Arla Foods Amba, Land O’Lakes, Inc., and Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF).

Report Coverage:

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