Butter and Margarine Market: Overview
Butter and margarine are vital ingredients of confectionary products. Over the years, they have become an indispensable part of households and daily diets. Margarine, a non-dairy product, is often substituted for butter, as it a cheaper alternative when the cost has to be contained. Butter, on the other hand, is a dairy product and is used for making and baking several dishes.
The research report by Transparency Market Research details the drivers and restraints of butter and margarine market. The report has been studied using market measurement tools such as a SWOT analysis and a Porter’s five forces analysis. The former provides an examination of the strengths, weaknesses, opportunities, and threats impacting the segments of the global butter and margarine market. On the other hand, the latter tool defines the intensity of the competitive rivalry, bargaining power of suppliers and buyers, and threats to the new entrants. The research report aims towards answering questions pertaining to the growth of the market, its value, and scope in the coming few years.
Butter and Margarine Market: Trends and Opportunities
The global butter and margarine market has been thriving due to the rising disposable incomes of the overall population. The growing incomes have improved the purchasing power of consumers across the globe, which has had a direct impact on butter sales. The changing consumer habits due to the blurring price difference between butter and margarine has also played a crucial role in the uptake of butter in recent years.
The various types of butter available in the market are butter margarine, uncultured butter, whipped and cream butter, liquid margarine, cultured butter, and others margarine. The introduction of a wide range of flavors in butter and product innovation have also been pivotal to the rise of this market over the past couple of years. The market has also flourished as consumption of packaged food items such as cookies, cakes, biscuits, macaroons, meringues, and other confectionary items have been on the upswing. Meanwhile, the demand for margarine is expected to remain high in developing countries, where consumers are price conscious of their purchases. However, the rising awareness amongst consumers about the ill-effects of long-term consumption of butter and margarine is expected to dissuade the market growth.
Butter and Margarine Market: Region-wise Outlook
In terms of geography, the global butter and margarine market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Of these, North America held the dominant stance in the global market in terms of revenue. The region is expected to retain this dominance in the coming years due to significant consumption of butter and margarine as the preference for packaged food and baked items remains consistently high.
Analysts also predict that Asia Pacific is expected to show remarkable progress in the overall market in the coming few years. India and China are anticipated at the forefront of the region’s growth due to strengthening economies that are allowing consumers to spend lavishly on meals. The plummeting prices of butter and margarine are also anticipated boost the demand for these products in the near future.
Key Players Mentioned in the Report
Some of the key players operating in the global butter and margarine market are Arla Foods, Farmers Cooperative Creamery, Deam Foods Company, OJSC Creative Group, Kraft Foods, AMUL India, and Friesland Campina.
Major geographies analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World (RoW)
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.