Global Butter and Margarine Market
Butter is a dairy product and Margarine is non-dairy product. Many a times margarine is used as a substitute of butter, but the properties and taste varies a lot. Butter is made up of butterfat, water and proteins whereas margarine consists of refined vegetable oil, sometimes animal fat. Both are used in cooking, baking or as spreads in various dishes to enrich its taste and The key drivers of global butter and margarine market are higher consumption of margarine in under developed countries because of greater value for money and multiple usages. Butter and margarine market is growing in developed regions with lot of product innovation and growing food service industry. Other drivers that fuel global butter and margarine marketare less price difference between butter and margarine and changing customer habits. The major restraining factors for butter and margarine market could be government regulations on manufacturing and marketing of such products (licensing, labeling among others), substitute products available in the butter and margarine market is among others. Rising health concerns and growing obesity are other potential restraining factors.
Global Butter and Margarine Market Size
The global butter and margarine market is expected to growth with a single digit increase in CAGR between 2015 and 2020. There is a decrease in the consumption of margarine in developed countries on the back drop of increasing obesity and health awareness programs.
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Global Butter and Margarine Market Segmentation
The global butter and margarine market can be segmented into two major categories on the basis of its usage as spreadable and non-spreadable. We can also segment the global butter and margarine market by product types as cultured butter, uncultured butter and cream and whipped butter, butter margarines, liquid margarines and others margarine varieties. The global butter and margarine market can also be segmented geographically into North America, Western Europe, Asia Pacific, Latin America, Eastern Europe and Middle East & Africa regions.
Demand for butter is more in comparison to margarine due to the rising preference of consumers for natural products such as butter. However demand for margarine is less in comparison to butter as margarine consists of additives. Decreasing price difference between butter and margarine and increasing home-baking trend drives the demand for butter market. There is rising trend of natural food consumption due to the shift in consumer preference for processed foods. In butter and margarine market there is rising trend of adding salt. There is increasing demand for butter owing to the growing food television culture that emphasize the benefits of butter consumption. BakeMark UK launched baking fats that are used in cakes and pastries. Baking fat consists of butter and margarine. Several margarine company promoted their products by emphasizing that their products lack trans-fat.
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Global Butter and Margarine Market Key Players
Some of the key players in global butter and margarine market are AMUL (India), Arla Foods, Dean Foods Company, Farmers Cooperative Creamery, FrieslandCampina, Kraft Foods and OJSC creative group.