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 in Northern Europe has experienced negligible growth, influenced by factors such as changing consumer preferences towards healthier fats, the rising popularity of plant-based alternatives, and economic pressures affecting purchasing habits.
Customer preferences: Consumers in Northern Europe are increasingly gravitating towards healthier dietary choices, prompting a decline in traditional butter consumption. This shift is largely influenced by a growing awareness of nutritional content and a preference for unsaturated fats, which has led to a rise in demand for plant-based spreads and oils. Additionally, younger demographics are favoring versatile cooking oils over butter, reflecting a broader trend towards convenience and sustainability in meal preparation. Cultural influences also contribute to this evolving landscape, as global culinary practices gain traction.
Trends in the market: In Northern Europe, the Butter Market within the Oils & Fats sector is experiencing a marked decline in traditional butter consumption as consumers lean towards healthier options. This trend is driven by an increased awareness of nutritional benefits, with many opting for plant-based spreads rich in unsaturated fats. Younger consumers are particularly favoring versatile cooking oils for their convenience and perceived sustainability. As global culinary influences permeate local diets, industry stakeholders must adapt to these shifts, potentially reformulating products and enhancing marketing strategies to align with evolving consumer preferences.
Local special circumstances: In Northern Europe, the Butter Market within the Oils & Fats sector is influenced by distinct geographical and cultural factors, including a strong emphasis on sustainability and health. The region's cooler climate impacts dairy production, leading to variations in butter quality and flavor profiles that consumers value. Additionally, stringent regulations on food labeling and health claims drive transparency, prompting manufacturers to innovate with low-fat and plant-based alternatives. The cultural shift towards wellness and environmental consciousness further accelerates the decline of traditional butter, with consumers increasingly favoring products that align with their values.
Underlying macroeconomic factors: The Butter Market within the Oils & Fats sector in Northern Europe is significantly influenced by macroeconomic factors such as fluctuating dairy prices, consumer income levels, and trade policies. Economic stability in the region supports higher disposable incomes, allowing consumers to invest in premium butter products. Furthermore, global supply chain dynamics, including climate change impacts on dairy farming and international trade agreements, affect availability and pricing. Additionally, government initiatives promoting sustainable agricultural practices and health-oriented consumption are shaping consumer preferences, driving demand for both traditional and innovative butter alternatives.
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