Global Butter and Margarine Market: Rising Purchasing Power and Declining Prices Driving Consumer Demand, notes TMR
The demand for butter and margarine rides on the rising disposable incomes of the consumers, notes Transparency Market Research in a report titled “Butter and Margarine Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015–2023”. Although the improving purchasing power and standards of living of the consumers are indicative of the projected growth of the butter and margarine market, increasing concerns over the prevalence of obesity are likely to restrict the market’s development through the forecast period.
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Government restrictions pertaining to the manufacturing and marketing of butter and margarine also pose a restraint to the overall growth. In addition to this, the availability of substitutes threatens the market. Nevertheless, the falling prices of these products have upped their consumption in most developing countries and this offers players immense scope for growth.
Based on usage, the butter and margarine market can be bifurcated into spreadable and non-spreadable. By product type, the market comprises cream and whipped butter, liquid margarines, cultured and uncultured butter, butter margarines, and others. The demand for butter is relatively higher and the sales of margarine takes a hit owing to the inclusion of additives.
The global market for butter and margarine can be segmented on the basis of geography into North America, Asia Pacific, Europe, and Rest of the World. North America accounts for a significant share in the overall market in terms of revenue and is likely to retain its positive streak throughout the forecast period. The butter and margarine market in the region is fueled by the high consumption of baked and packaged foods.
Asia Pacific is projected to exhibit healthy growth over the coming years, with China and India emerging as the front-runners. The rapidly growing economies in these countries has resulted in an increase in disposable income. This, in turn, has enabled consumers to increase their spending on luxury food items such as desserts, pastries, and confectionery. This, combined with the declining prices of margarine and butter, is projected to lead to higher sales in APAC.
The report includes a dedicated section on the competitive landscape of the butter and margarine market. The key vendors operating in this market, both domestic and international, have been identified and profiled in detail. Aspects such as company and business overview, financial standing, product portfolio, recent developments, and business strategies have been taken into account while assessing the current and future performance of these companies. The top companies participating in the global butter and margarine market include Dean Foods Company, Kraft Foods, AMUL India, Farmers Cooperative Creamery, Arla Foods, OJSC Creative Group, and FrieslandCampina.