Key regions: Canada, Japan, United Kingdom, South Korea, United States
The Butter Market within the Oils & Fats sector in China is experiencing minimal growth, influenced by factors such as shifting consumer preferences towards healthier options, increased competition from margarine, and rising production costs impacting pricing strategies.
Customer preferences: In China, there is a notable shift towards plant-based diets among younger consumers, driven by health consciousness and environmental concerns. This demographic increasingly favors alternatives to traditional butter, such as nut butters and plant-based spreads, reflecting their desire for cleaner ingredient labels. Additionally, the rise of urban lifestyles has led to greater demand for convenient, ready-to-use cooking products, further challenging the butter market as consumers seek quick meal solutions that align with their health and sustainability values.
Trends in the market: In China, the Butter Market within the Oils & Fats sector is experiencing a significant decline as consumers increasingly gravitate towards plant-based alternatives. This trend is propelled by the younger generation’s heightened health awareness and the demand for sustainable food options, leading to a surge in popularity for nut butters and plant-based spreads. The convenience factor also plays a crucial role, with busy urban lifestyles driving the need for ready-to-use cooking solutions. For industry stakeholders, these shifts necessitate innovation and adaptation in product offerings to meet evolving consumer preferences, emphasizing clean labels and sustainability.
Local special circumstances: In China, the Butter Market within the Oils & Fats sector faces unique challenges influenced by cultural preferences and local dietary habits. Traditional Chinese cuisine often emphasizes lighter cooking fats, which limits butter's popularity compared to oils like soybean or peanut. Additionally, the government's focus on health initiatives and nutrition education has led to increased scrutiny of high-fat dairy products. Regional variations in taste further complicate market dynamics, as coastal areas may lean towards Western dietary influences, while inland regions maintain a preference for plant-based options, shaping consumer behavior and product development.
Underlying macroeconomic factors: The Butter Market within China's Oils & Fats sector is significantly influenced by macroeconomic factors such as national economic growth, changing consumer income levels, and evolving dietary trends. As China's economy continues to expand, rising disposable incomes allow for greater experimentation with Western food products, including butter. However, the government’s focus on health and nutrition policies may restrict growth, as it promotes lower-fat alternatives. Furthermore, global economic trends, such as fluctuations in dairy commodity prices and trade agreements, impact butter availability and pricing, affecting consumer purchasing decisions and market dynamics.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
