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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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Butter market within the Oils & Fats segment of The Food market in G7 nations is witnessing minimal growth. This stagnation is influenced by factors such as shifting consumer preferences towards healthier alternatives and fluctuating dairy prices impacting production.
Customer preferences: Consumers in G7 nations are increasingly gravitating towards plant-based and dairy-free alternatives in the Butter market within the Oils & Fats segment, reflecting a growing awareness of health and sustainability. This shift is particularly pronounced among younger demographics, who prioritize clean labels and ethical sourcing in their food choices. Additionally, the rise of flexitarian diets is influencing purchasing behaviors, as individuals seek versatile options that align with their lifestyle while reducing saturated fat intake, thereby diminishing traditional butter consumption.
Trends in the market: In G7 nations, the Butter market within the Oils & Fats segment is experiencing a notable shift towards plant-based and dairy-free alternatives, driven by rising health consciousness and sustainability concerns. This trend is particularly evident among millennials and Gen Z consumers, who increasingly favor products with clean labels and ethical sourcing. The growing popularity of flexitarian diets is reshaping purchasing habits, as individuals seek healthier options that align with their values while reducing saturated fat intake. This evolving landscape presents both challenges and opportunities for industry stakeholders, necessitating innovation and adaptation to meet changing consumer demands.
Local special circumstances: In France, the Butter market within the Oils & Fats segment is heavily influenced by the country's rich dairy heritage and culinary traditions, which prioritize high-quality butter in cooking and baking. However, the rise of health-conscious consumers is prompting a shift towards organic and plant-based butter alternatives. Meanwhile, Germany's stringent food safety regulations and emphasis on sustainability are driving the demand for ethically sourced butter products. In Italy, the cultural significance of butter in traditional recipes coexists with a growing interest in healthier, lower-fat alternatives, highlighting the diverse influences shaping these markets.
Underlying macroeconomic factors: The Butter market within the Oils & Fats segment is significantly shaped by macroeconomic factors such as global dairy price fluctuations, trade policies, and consumer spending trends. In countries like France and Germany, economic stability and disposable income levels support premium butter sales, while rising inflation may push consumers toward cost-effective alternatives. Additionally, sustainability initiatives and regulatory frameworks are influencing production practices, driving demand for ethically sourced butter. Meanwhile, health trends and changing dietary preferences are reshaping consumer behavior, prompting producers to innovate and diversify their product offerings in response to these evolving 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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights