Butter - Americas | Statista Market Forecast

Revenue in the Butter market amounts to US$7.41bn in 2024. The market is expected to grow annually by 5.28% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$7bn in 2024).
In relation to total population figures, per person revenues of US$7.29 are generated in 2024.
In the Butter market, volume is expected to amount to 803.50m kg by 2029. The Butter market is expected to show a volume growth of 2.2% in 2025.0.
The average volume per person in the Butter market is expected to amount to 0.70kg in 2024.

Definition:

Butter is a dairy product made up of several components, such as milk fat, milk proteins, and water. Butter contains a minimum of 80% fat and is widely used in baking and cooking, and as a flavor enhancer for a variety of dishes.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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Salted butter
Unsalted butter
Cultured butter
Light butter
Flavored butter

Margarine
Vegetable oils
Other animal fats (e.g. lard)
Clarified butter (Ghee)
Peanut butter
Out-of-home consumption

The Butter Market within the Oils & Fats segment of The Food market in the Americas is experiencing minimal growth, influenced by factors such as shifting consumer preferences towards plant-based alternatives and health concerns regarding saturated fats.

Customer preferences: Consumers in the Americas are increasingly gravitating towards plant-based diets, prompting a notable decline in traditional butter consumption. This shift is particularly pronounced among younger demographics who prioritize sustainability and health in their food choices. Additionally, the rise of veganism and flexitarian lifestyles has spurred interest in dairy alternatives, such as nut and seed-based spreads. Cultural influences, including a growing awareness of lactose intolerance and cholesterol concerns, further drive this transformation, reshaping the Butter Market within the Oils & Fats segment.

Trends in the market: In the Americas, the Butter Market within the Oils & Fats segment is experiencing a significant shift as consumers increasingly adopt plant-based diets. This trend is particularly evident among millennials and Gen Z, who favor sustainability and health-conscious alternatives. As a result, traditional butter consumption is declining, with a rising interest in vegan spreads made from nuts and seeds. This transformation is fueled by heightened awareness of lactose intolerance and health concerns related to cholesterol. Industry stakeholders must adapt by innovating product lines and marketing strategies to cater to changing consumer preferences, ensuring relevance in this evolving landscape.

Local special circumstances: In the Americas, the Butter Market within the Oils & Fats segment is influenced by diverse regional factors that shape consumer preferences. In the U.S., a strong emphasis on health and wellness drives demand for organic and grass-fed butter options, while California's agricultural landscape fosters a robust local dairy industry, promoting artisan butter products. Conversely, in Canada, stringent regulatory standards regarding food labeling and health claims encourage transparency, pushing brands to innovate with plant-based alternatives. These unique factors contribute to a dynamic marketplace, reflecting regional tastes and values.

Underlying macroeconomic factors: The Butter Market within the Oils & Fats segment in the Americas is significantly impacted by macroeconomic factors such as consumer income levels, food inflation, and trade policies. In the U.S., rising disposable incomes have led to increased spending on premium and artisanal butter products, while economic uncertainty can shift focus to more affordable options. In Canada, fluctuating dairy tariffs and trade agreements with global partners impact supply chains and pricing. Additionally, the growing trend towards sustainability and health consciousness drives innovation in butter alternatives, reshaping consumer preferences and market dynamics across the region.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.