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The global table butter market reached a value of US$ 44 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 8% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different industries. These insights are included in the report as a major market contributor.
Table butter is prepared using pasteurized cream that is obtained from milk and milk products. It also includes common salt, annatto or carotene for adding color and diacetyl as a flavoring agent. It undergoes changes in form depending on the surrounding temperature. For instance, it remains solid under refrigeration, softens to a spreadable consistency at room temperature and melts into a liquid consistency at a higher temperature. Table butter has niacin, calcium, phosphorus, riboflavin, antioxidants and vitamins A, B and E. As a result, its adequate consumption assists in improving immune function, supporting heart health and protects cells against damage caused by free radicals.
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Due to its creaminess and rich taste, table butter finds extensive application in the preparation of a variety of dishes, such as bakery products and fried foods. It is also used as a spread on toasted products and a condiment on cooked products. This, coupled with numerous innovations and advancements in the food industry, is strengthening the growth of the market. Apart from this, leading market players are coming up with novel table butter flavors and varieties to suit the taste and preference of a vast consumer base. These players are also focusing on upgrading product packaging to make it more aesthetically appealing. Besides this, they are considerably investing in promoting their products through digital marketing and celebrity endorsements. Furthermore, key manufacturers are launching dairy-free, organic, unsalted, slightly salted, and goat milk table butters to target the health-conscious and vegan population. These initiatives are anticipated to positively influence the overall sales of table butter across the globe. Some of the other factors projected to impel the market growth include rising global population, changing dietary patterns and inflating disposable incomes of individuals in developing regions.
IMARC Group provides an analysis of the key trends in each sub-segment of the global table butter market report, along with forecasts for growth at the global and regional level from 2021-2026. Our report has categorized the market based on the region.
Breakup by Region:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are 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).
Temporary closure of hotels, restaurants and cafes, along with disruptions in the global supply chains due to lockdowns imposed by governments of numerous countries to prevent the spread of the coronavirus disease (COVID-19), is negatively influencing the growth of the market.
The global table butter market reached a volume of 5 Million Metric Tons in 2019.
According to the estimates by IMARC Group, the global table butter market will exhibit moderate growth during the next five years.
The escalating demand for table butter on account of various nutritional benefits, in confluence with the thriving food and beverage (F&B) industry, represents one of the significant factors impelling the market growth.
With the increasing health consciousness among consumers, leading players are introducing cholesterol-free table butter, which is made using pure refined vegetable oils. This is acting as one of the major trends in the global table butter market.
Region-wise, the market has been segmented into the European Union, North America, Eastern Europe, Oceania, Latin America and Asia.
Leading industry players are Lactalis International, Nestlé S.A., Dairy Farmers of America, Inc., Arla Foods amba, Land O’Lakes, Inc. and Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF).
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