What Has Been the Growth of the Milk And Butter Market So Far?
The milk and butter market has seen considerable growth due to a variety of factors.
• The market size for milk and butter has witnessed potent growth in the past few years. The market, which stands at $336.84 billion in 2024, is projected to escalate to $355.72 billion in 2025, recording a compound annual growth rate (CAGR) of 5.6%.
The historical period of growth is attributable to factors such as dairy farming advancement, essential dietary staples, growth in the dairy industry, customary culinary usage, and global commerce.
What Is the Forecasted Market Size and Growth Rate for The Milk And Butter Market Size In The Coming Years?
The milk and butter market is expected to maintain its strong growth trajectory in upcoming years.
• The market for milk and butter is anticipated to experience significant growth in the upcoming years, expanding its size to $441.2 billion by 2029 with a compound annual growth rate (CAGR) of 5.5%.
Factors like numerous dairy substitutes, health and wellness movements, sustainable and ethical procedures, digital marketing and online trading, and worldwide market spread contribute to the growth during the predicted period. Among the leading trends during this period are plant-based milk and butter, lactose-free and dairy-free alternatives, butter mixes and spreads, functional and enhanced dairy, and green packaging.
What Factors Are Driving Growth In The Milk And Butter Market?
The anticipated positive impact on the milk and butter manufacturing sector during the forecast period is due to the escalating demand for local, sustainable, and organically produced food. Emphasising consumer health, environmental protection, and animal welfare, organic food production, especially in the dairy sector, has been gaining attention. With a rising interest in the sourcing and preparation of food, consumers are ready to pay a premium for what they see as healthy. As an example, the Organic Trade Association, an organization representing organic businesses in the US, reported an 11% rise in the sales of organic dairy products and eggs in June 2022 compared to previous years. This surge in the desire for organic products opens significant prospects for dairy product manufacturers in both advanced and developing countries, which could propel the market in the forecasting time-frame.
What Are The Main Segments Of The Global Milk And Butter Market?
The milk and butter market covered in this report is segmented –
1) By Type: Milk-Dairy, Butter
2) By Application: Food, Beverages, Intermediate Products, Condiments, Other Applications
3) By Distribution Channel: Super markets/Hyper markets, Convenience Stores, E-Commerce, Other Distribution Channels
Subsegments:
1) By Milk-Dairy: Whole Milk, Skim Milk, Semi-Skimmed Milk, Flavored Milk, Organic Milk
2) By Butter: Salted Butter, Unsalted Butter, Clarified Butter (Ghee), Organic Butter, Whipped Butter
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How Are New Trends Impacting The Size Of The Milk And Butter Market?
The use of Internet of Things (IoT) technology in tracking dairy products, including milk and butter, and ensuring their safe handling is growing. IoT technology forms a communicative network made up of devices, vehicles, and other elements that continuously transfer data and provide an understanding of a process or system. This technology is being leveraged to keep track of the ingredients used in products. Devices on the internet, attached to vehicles and storage coolers, can monitor dairy products and label them with environmental facts such as temperature or location that offer details about safe handling during transportation. For example, the National Food Quality Safety Traceability Platform powered by IoT technology has been put in place by the Chinese government to enhance the quality and safety of food production supply chains.
Who Are the Key Players In The Milk And Butter Market?
Major companies operating in the milk and butter market include:
• Danone S.A.
• Inner Mongolia Yili Industrial Group Co. Ltd.
• Fonterra Group Cooperative Limited
• Groupe Lactalis S.A.
• Saputo Inc.
• Arla Foods amba
• Frieslandcampina
• Yakult Honsha Co. Ltd.
• Louis Dreyfus
• Savencia Fromage & Dairy
• Nestle S.A.
• Dairy Farmers of America Inc.
• Yili Group
• China Mengniu Dairy Company Limited
• Land O'Lakes Inc.
• Dean Foods
• DMK Deutsches Milchkontor GmbH
• Meiji Holdings Company Ltd.
• The Kraft Heinz Company
• The Agropur Diary Co-operative
• Sodiaal
• Amul
• Schreiber Foods Inc.
• Müller
• Foremost Farms
• Hiland Dairy
• Prairie Farms Diary
• St. Mary's Farm
• St. Pete's Select
• The Turner Dairies
• Tillamook Country Creamy Association
• Alpenrose Dairy
• Challenge Diary.
What Is The Most Dominant Region In The Milk And Butter Market?
Asia-Pacific was the largest region in the milk and butter market in 2023. Western Europe was the second largest region in milk and butter market. The regions covered in the milk and butter market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
