Global Liquid Butter Alternatives Market: Introduction
Liquid butter alternatives are used in many instances where the butter or margarine is substituted at a cost significantly lower than the butter and zero grams of trans fat per servings. These products are extremely versatile as these will not burn, spatter, or scorch. The liquid butter alternatives are used as a butter alternative in the restaurant industry. Liquid butter alternatives are also known as phase oil. It is one of the common butter substitutes used majorly used in the restaurants and hotels. The primary use of the phase oil is frying, but these can be further used for baking and other recipes. Few of the benefits of the butter alternative driving the sales is the authentic buttery taste, the lightly salted formula, the high heat tolerance, convenience and the cost effectiveness.
Global Liquid Butter Alternatives Market: Drivers and Restraints
One of the major drivers driving the market is the buttery flavor without using butter. Manufacturers are launching various products to enhance the tastes of the cuisines. Further, innovative products launched by the manufacturers are also enhancing the sales such as the zero grams trans fat per serving is the new innovation for the health conscious consumers. For instance, the venture foods have launched Phase liquid butter alternative which has high heat stability and imparts rich, buttery flavor in the variety of cooking applications. The product contains no cholesterol and is also in saturated fats. The longer shelf life along with no refrigeration and twenty percent greater yield than butter and yield are also the primary reasons for the increased sales of the product.
However, one of the major limitations is the number of unhealthy ingredients in the phase oil. However, the restaurant and food chains are using this hazardous ingredient just for cost cutting. Further, these highly processed vegetable oils are stable at the prices and also doesn’t require refrigeration and have indefinite shelf life. Few examples of the liquid butter alternatives are liquid and hydrogenated soybean oils, Tertiary butylhydroquinone, Soy Lecithin, and Dimethylpolysiloxane. Another major limitation is that these are extracted with hexane, which is petroleum based solvent and this may lead to contamination.
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Global Liquid Butter Alternatives Market: Segmentation
The global liquid butter alternatives market is segmented by sales channel into:
- Direct Sales
- Indirect Sales
- Modern Trade
- Convenience Store
- Online Retailers
Global Liquid Butter Alternatives Market: Segmentation Overview
The global liquid butter alternatives market is segmented into sales channel and geography. Direct sales include HORECA and accounts for the largest share in the food industry. Hotels and restaurants are the major consumers for the liquid butter alternative. These are available through various raw materials such as canola, soybean, and others
Global Liquid Butter Alternatives Market: Regional Outlook
Depending on a geographic region's global liquid butter alternatives market is segmented into seven broad regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and Middle East Africa. North America accounted for the largest owing to the eating habits of the consumers in the region.
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Global Liquid Butter Alternatives Market: Prominent vendors
Some of the players identified across the value chain of the global liquid butter alternatives market include Cargill, Inc., Bunge Limited, Venture Foods, AAK Foodservice, and Peerless Holdings Pty Ltd, amongst others. Few of the strategies adopted by the key players in the market are partnership and collaboration with other operators, expansion into the untapped market, and joint ventures with the organizations in emerging countries to gain the strong foothold in the market. To ensure product differentiation and to acquire a considerable share of the market, major vendors are adopting creative strategies and are constantly developing innovative products.
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.