Butter - Eastern Asia | Statista Market Forecast

Revenue in the Butter market amounts to US$2.67bn in 2024. The market is expected to grow annually by 5.96% (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$1.63 are generated in 2024.
In the Butter market, volume is expected to amount to 312.00m kg by 2029. The Butter market is expected to show a volume growth of 4.1% in 2025.0.
The average volume per person in the Butter market is expected to amount to 0.16kg 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 sector in Eastern Asia is experiencing minimal growth, influenced by factors such as shifting consumer preferences, competition from margarine, and economic fluctuations impacting disposable income and purchasing habits.

Customer preferences: Consumers in Eastern Asia are increasingly gravitating towards healthier, plant-based alternatives, influencing the Butter Market within the Oils & Fats sector. This shift is fueled by a growing awareness of health and wellness, particularly among younger demographics who prioritize clean eating and sustainability. Additionally, cultural nuances emphasize the use of traditional ingredients, leading to a rise in demand for artisanal and locally sourced butter products. As lifestyles evolve, convenience and transparency in sourcing are becoming critical factors in purchasing decisions.

Trends in the market: In Eastern Asia, the Butter Market within the Oils & Fats sector is experiencing a notable shift towards healthier, plant-based alternatives, driven by a growing consumer emphasis on wellness and sustainability. This trend is particularly prominent among younger generations who are increasingly conscious of the nutritional value of their diets. Additionally, there is a rising preference for artisanal and locally sourced butter products, reflecting cultural values around traditional ingredients. As convenience and transparency become essential in purchasing decisions, industry stakeholders must adapt by innovating product offerings and enhancing supply chain practices to meet evolving consumer expectations.

Local special circumstances: In Eastern Asia, the Butter Market within the Oils & Fats sector is shaped by distinct cultural practices and culinary traditions that emphasize the use of butter in regional dishes. The rise of health-conscious consumers is influencing demand for low-fat and fortified butter products, while local regulations on food labeling and additives are pushing manufacturers to innovate transparently. Furthermore, geographical diversity affects the availability of dairy sources, leading to a growing interest in artisanal butter crafted from local ingredients, which aligns with traditional values and supports regional economies.

Underlying macroeconomic factors: The Butter Market within the Oils & Fats sector in Eastern Asia is significantly influenced by macroeconomic factors such as changing consumer income levels, urbanization trends, and shifting dietary preferences. Economic growth in the region has led to increased disposable incomes, enabling consumers to spend more on premium and artisanal butter products. Furthermore, trade policies and tariffs on dairy imports can affect the availability and pricing of butter, impacting market dynamics. The rising focus on health and wellness, coupled with government initiatives promoting local dairy production, fosters innovation in healthier butter alternatives. Additionally, fluctuations in global milk prices due to climate change and supply chain disruptions further complicate market stability.

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.