The latest report by IMARC Group titled,“Table Butter Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, critically examines the table butter market in India. Table butter is obtained by the process of churning cream, until butter fat separates from butter milk. In India, butter forms an important part of the daily diet as it is a great source of energy. It is also rich in numerous vitamins and minerals such as vitamin A, D, E, and K, manganese, chromium, iodine, zinc, copper and selenium. These nutrients are essential for brain and nervous system development, and help in treating fungal infections as well as reducing the risk of cancer and tumor. According to the report, the market reached a value of around INR XX Billion in 2017, exhibiting a CAGR of more than 18% during 2010-2017.
Highlights of the table butter market in India:
- The market is primarily driven by a strong growth in the food industry.
- Maharashtra represents the largest market, accounting for the majority of the share.
- The market is expected to reach a value of INR 85 Billion by 2023.
Table butter is among the fastest growing food segments in India. Flourishing food industry is one of the major factors driving the table butter market where butter is extensively used in the preparation of a number of food items, which include bakery products, sauces and fried food. In addition, manufacturers are introducing new innovative flavours such as garlic and herb, garlic and oregano, and pudina and coriander, to attract a wider consumer-base. They have also introduced low-fat and unsalted butter varieties to appeal to the health-conscious consumers. Some of the other driving factors include increasing population, rising disposable incomes and improving standards of living. The market is further expected to reach a value of INR 85 Billion by 2023, growing at a CAGR of XX% during 2018-2023.
The report has evaluated the market across fifteen major states of India, along with providing a thorough analysis of the current and historical value and volume trends, and market forecast. Currently, Maharashtra represents the largest market, accounting for nearly XX% of the total share. It is followed by Tamil Nadu and Uttar Pradesh. Apart from this, an analysis of the competitive landscape provides the details of the key players operative in the market. Some of the major players are GCMMF, KMF, TN Cooperative and Mother Dairy.
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