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.
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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.
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.
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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.
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