Butter - CIS | Statista Market Forecast

Revenue in the Butter market amounts to US$2.54bn in 2024. The market is expected to grow annually by 6.38% (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$10.46 are generated in 2024.
In the Butter market, volume is expected to amount to 190.70m kg by 2029. The Butter market is expected to show a volume growth of 1.6% in 2025.0.
The average volume per person in the Butter market is expected to amount to 0.73kg 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 CIS is experiencing subdued growth, influenced by factors such as shifting consumer preferences, cost fluctuations in dairy production, and increasing competition from plant-based alternatives.

Customer preferences: Consumers in the CIS region are increasingly favoring health-conscious and sustainable food options, leading to a decline in traditional butter consumption. The rise of plant-based diets, particularly among younger demographics, reflects a growing preference for vegan alternatives that align with ethical and environmental values. Additionally, the influence of globalization introduces diverse culinary practices, prompting a demand for innovative butter substitutes. These trends highlight a shift towards healthier fats and a more conscious approach to food choices, reshaping the Butter Market landscape.

Trends in the market: In the CIS region, the Butter Market is experiencing a notable shift towards alternative fats, driven by an increasing consumer focus on health and sustainability. The demand for plant-based butter substitutes is surging, reflecting a significant lifestyle change among younger generations who prioritize vegan and environmentally friendly products. Furthermore, traditional dairy butter is being challenged by innovative formulations that cater to diverse culinary preferences. This evolution not only reshapes consumer habits but also compels industry stakeholders to adapt their offerings, emphasizing the importance of product innovation and sustainability in a competitive landscape.

Local special circumstances: In the CIS region, the Butter Market is shaped by a blend of cultural preferences and regulatory frameworks that set it apart from other markets. The rich culinary traditions prioritize dairy products, yet there is a burgeoning interest in health-conscious alternatives, influenced by Western dietary trends. Additionally, government regulations promoting sustainable agricultural practices are fostering innovation in plant-based butter substitutes. This unique combination of cultural heritage and regulatory incentives drives a dynamic market landscape, compelling producers to innovate while respecting traditional values.

Underlying macroeconomic factors: The Butter Market within the Oils & Fats sector in the CIS region is significantly influenced by macroeconomic factors such as fluctuating dairy prices, consumer income levels, and shifting trade dynamics. Economic growth in the region, coupled with rising disposable incomes, is driving demand for premium butter products while also encouraging exploration of healthier, plant-based alternatives. Additionally, government fiscal policies aimed at supporting local dairy farmers and promoting sustainable practices are shaping production trends. Global market dynamics, including trade agreements and commodity prices, further impact supply chains, compelling producers to adapt and innovate in response to these evolving economic landscapes.

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.