Market Highlights
Global Butter Market is projected to be valued at USD 58,119.2 Million by 2025, expanding at a CAGR of 2.41% during the forecast period. Butter is a high-fat dairy product processed from milk or cream. The growth of the global butter market is driven by the growth of hotels/restaurants/cafes (HoReCa) industry. However, the rising demand for vegan and plant-based butter is hampering the growth of the market. The increasing investments in R&D for innovation are expected to create lucrative opportunities for market players in the coming years.
Asia-Pacific accounted for a dominant share of the butter market in 2018 owing to the growing chocolate industry in the region. India, followed by China, is among the most lucrative markets for manufacturers in the region. The growing HoReCa industry in the region is fueling the market growth for butter in Asia-Pacific. As per the data revealed by the Malaysian Palm Oil Council (MPOC), the hotel and restaurant sector is expected to reach a revenue of USD 908.6 billion by 2020. China, Japan, South Korea, Taiwan, Indonesia, and India are the major investment pockets for the manufacturers of butter to invest. Additionally, the rising demand for convenience food and bakery & confectionery products in Asia-Pacific is yet another determinant that is boosting the consumption of butter in the region.
Segmental Analysis
Global Butter Market manufacture has been segmented based on product Type, Category, Form, And End Use, and Region.
By Product Type, the market has been divided into standard butter, clarified butter, whipped butter, and others. The standard butter segment accounted for the maximum market share in 2018, whereas, whipped butter segment is expected to register the highest CAGR of 2.57% during the forecast period. Whipped butter is spreadable butter that is made by adding air to the standard butter. It is light and less dense as compared to the other types of butter. Whipped butter contains fewer calories and lowers fat content as compared to standard butter. Due to the presence of less fat solids in whipped butter, it is not suitable for use in baking applications. Instead, it is used for topping and as a table spread as it melts quickly and gives a lot of foam.
By Category, the market has been divided into salted and unsalted. The salted segment accounted for the maximum market share in 2018, whereas the unsalted segment is expected to register the higher CAGR during the forecast period. Unsalted butter is butter in its purest form in which no salt has been added. It has a lower shelf life as compared to salted butter. In terms of flavor, unsalted butter is sweeter than salted butter. It is mainly used in recipes that require the use of an exact amount of ingredients and complete control over the amount of salt to be added to the final product.
By Form, the market has been divided into spreads, liquid/oil, blocks, and others. The blocks segment accounted for the maximum market share in 2018, whereas, the spreads segment is expected to register the highest CAGR of 2.54% during the forecast period. Spreads refer to pure butter with enough oil content to make it spread on the applied surface. It is mainly a mixture of butter and vegetable oil, generally canola oil. The oil added to the butter prevents it from hardening and thus offers ease while spreading it over a surface. Majority of the retail brands offering butter in the form of spreads, use canola oil. However, other oils such as extra-virgin olive, flaxseed, grape seed, and hemp seed oils can also be used depending upon the final flavor profile required.
Based on End Use, the global butter market has been classified as food processing, foodservice, and food retail. The food processing segment is further bifurcated into bakery & confectionery, dairy & frozen desserts, sauces, dressings, & spreads, and others. The food retail segment accounted for the maximum market share in 2018. The food retail segment includes both store-based retail sales and non-store-based retail sales of butter. Store-based retail refers to the sale of butter through brick and mortar stores such as supermarkets, hypermarkets, convenience stores, and specialty stores. Whereas, non-store-based retail mainly refers to the sale of butter through e-commerce.
Regional Analysis
Geographically, the global butter market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Asia-Pacific dominated the market, accounting for the largest share in 2018. The butter market in Europe accounted for the second-largest market share in 2018. North America is projected to register the highest CAGR of 2.67% during the forecast period.
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Key Players
Market Research Future identified Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF/Amul) (India), Arla Foods amba (Denmark), Land O'Lakes, Inc. (US), Lactalis Group (France), Royal FrieslandCampina N.V. (Netherlands), Ornua Co-operative Limited (Ireland), Delta Nutritives (India), Dairy Farmers of America, Inc. (US), Fonterra Co-operative Group (New Zealand), and Organic Valley (US) as the Key Players in the Global Butter Market.
Key Findings of the Study
- The Global Butter Market is projected to register a growth rate of 2.41% from 2019 to 2025. The increasing demand for butter in food processing industry followed by growing hotel/restaurants/café (HoReCa) industry are projected to propel the growth of the global butter market.
- The standard butter segment is estimated to retain its prominent share by 2025. The whipped butter segment is anticipated to register a growth rate of 2.57% during the forecast period.
- The salted segment is estimated to retain its prominent share by 2025. The unsalted segment is anticipated to register a higher growth rate of 2.47% during the forecast period.
- The blocks segment accounted for the largest market share in 2018 and is expected to grow at a rate of 2.37% during the forecast period.
- The food retail segment is estimated to retain its prominent share by 2025. The foodservice segment is anticipated to register the highest growth rate of 2.50% during the forecast period.
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Market HighlightsGlobal Butter Market is projected to be valued at USD 58,119.2 Million by 2025, expanding at a CAGR of 2.41% during the forecast period.
The growth of the global butter market is driven by the growth of hotels/restaurants/cafes (HoReCa) industry.
The increasing investments in R for innovation are expected to create lucrative opportunities for market players in the coming years.
As per the data revealed by the Malaysian Palm Oil Council (MPOC), the hotel and restaurant sector is expected to reach a revenue of USD 908.6 billion by 2020.
It is light and less dense as compared to the other types of butter.
Instead, it is used for topping and as a table spread as it melts quickly and gives a lot of foam.
Market HighlightsGlobal Dairy Cream Market is projected to be valued at USD 18,722.1 Million by 2025, expanding at a CAGR of 3.80% during the forecast period.
The demand for dairy cream has been increasing at a moderate pace across the globe over the last few years.
Europe constituted a dominant share of the dairy cream market in 2018 owing to the increasing demand from hotels/restaurants/cafes (HoReCa) industry.
Other factors such as increasing the number of restaurants, bars, and cafés and the rise in the consumption of dairy cream primarily in dressings, confectionery, dairy products, and desserts is expected to drive the growth of the dairy cream market in the region.Key PlayersMarket Research Future identified Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF/Amul) (India), Arla Foods (Denmark), Land O'Lakes, Inc. (US), Lactalis Group (France), Royal FrieslandCampina N.V. (Netherlands), Agropur (Canada), Saputo Inc. (Canada), Dairy Farmers of America, Inc. (US), Fonterra Co-operative Group (New Zealand), and Organic Valley (US) as the Key Players in the Global Dairy Cream Market.Segmental AnalysisGlobal Dairy Cream Market has been Segmented Based on Type, End-Use, and Region.By Type, the market has been divided into thickened cream & whipping cream, fresh cream, sour cream, and others.
It is ideal as a filling in desserts.Based on End Use, the global dairy cream market has been classified as food processing, food service, and food retail.
The food processing segment is further divides into bakery & confectionery, dairy & frozen desserts, sauces, dressings, & spreads, and others.
Market HighlightsGlobal Botanical Extracts Market is projected to be valued at USD 25,151.7 Million by 2025, expanding at a CAGR of 5.45% during the forecast period.
However, the limited availability of botanical extracts is hampering the growth of the market.
The increasing demand for organic ingredients is expected to offer lucrative opportunities to market players in the coming years.
Other factors, such as increasing demand for natural food ingredients and additives among consumers is expected to drive the growth of the botanical extracts market in the region.
The herbs primarily used for botanical extraction are turmeric, rosemary, mint, basil, chives, sage, bay leaf, and thyme.
The demand for such herbs is increasing at a high pace due to its broader application in food & beverages and pharmaceutical products across the globe.
Upsurge in requirement all over the automotive sector is considered to be a foremost aspect driving magnetic field sensors market development all over the years to come.
These sensors are utilized widely over various security frameworks, for example, Anti-Lock Braking Systems (ABS) and Electronic Stability Control (ESC), torque and power detecting, steering angle sensing amid others.
E-compasses or electronic compasses are picking up footing because of their capacity to upgrade user navigation and is likewise anticipated that would fuel market development.Increasing requirement in consumer electronics because of smartphone proliferation is in addition considered to fuel the market for magnetic field sensors expansion over the years to follow.
The magnetic field sensors provides better competence as well as sensing performance as a result of which the market is foreseen to witness remarkable expansion all over the following next years.
Increased adoption of magnetic field sensors and technological progressions in the electric vehicles provides avenues for market expansion throughout the approaching next years.
Request For Report Sample: https://www.researchreportinsights.com/report/upsample/120124770/Magnetic-Field-Sensors-MarketNorth America is considered to be one of the most lucrative markets for the technology of the magnetic field sensor, trailed by the Asia Pacific and Europe.
Upsurge in requirement all over the automotive sector is considered to be a foremost aspect driving magnetic field sensors market development all over the years to come. Automotive is estimated to be a high development application category because of expanding need to coordinate security function in vehicles. These sensors are utilized widely over various security frameworks, for example, Anti-Lock Braking Systems (ABS) and Electronic Stability Control (ESC), torque and power detecting, steering angle sensing amid others. E-compasses or electronic compasses are picking up footing because of their capacity to upgrade user navigation and is likewise anticipated that would fuel market development.
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Increasing requirement in consumer electronics because of smartphone proliferation is in addition considered to fuel the market for magnetic field sensors expansion over the years to follow. On the other hand, raised requirement for low-priced magnetic field sensors might get a challenge to market expansion. In addition, increased requirement all over various application fields comprising consumer electronics industry, homeland security, healthcare and defense & military is considered to favorably affect market expansion. The magnetic field sensors provides better competence as well as sensing performance as a result of which the market is foreseen to witness remarkable expansion all over the following next years. Increased adoption of magnetic field sensors and technological progressions in the electric vehicles provides avenues for market expansion throughout the approaching next years. Moreover, increased implementation of these sensors in medical applications as well as high market prospects in rising economies in addition offers market expansion opportunities.
North America is considered to be one of the most lucrative markets for the technology of the magnetic field sensor, trailed by the Asia Pacific and Europe. Japan and The U.S. are also anticipated to be the two foremost markets for this sensing technology. The Asia Pacific region is likely to see fast expansion over the years to come because of rising domestic automotive need in the developing markets of China and India.
Support from the government for utilizing eco- friendly vehicle is anticipated to fuel the worldwide magnetic field sensor market. Moreover, advancements in the area of automobile infotainment systems are considered to fuel the worldwide magnetic field sensor market to some degree. Likewise, requirement in gaming consoles, expanding attractiveness of electronic compasses and constant requirement for computer and computing peripherals is looked at to further enhance requirement for magnetic field sensor technology. On the other hand, irregularity of a magnetic field sensor body, temperature fluctuations, distortional variation and inaccessibility of aftermarket service is believed to impede the worldwide magnetic field sensor market.
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Attributable to development in the automotive industry which might expand the need for magnetic field sensor technology, multinational organizations have begun putting resources into the developing markets of Asia Pacific. A few of the foremost market players active in the global market are Asahi Kasei Microdevices Corporation, Allegro MicroSystems Inc., Melexis Microelectronic Systems, Infineon, NXP Semiconductors, Honeywell International, MEMSIC Inc., and Robert Bosch GmbH. Product differentiation and innovation are the foremost growth strategies acquired by various market players.
For instance, in October 2016, an analog solution and sensor provider, AMS, has come into the agreement to take on Heptagon, a micro-optics solution and optical packaging provider. This acquirement will aid AMS to enhance its placing in the market for optical sensing technologies. During March 2016, Analog Devices come into the agreement to take on a sensing technology provider, SNAP sensor SA. This acquirement will aid Analog Devices in growing its consumer base and place in platform-level Internet of Things (IoT) solutions, signal processing and sensing market.
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