Milk And Butter Global Market To Reach Value Of $417 Billion In 2025
4 Mar, 2021
The milk and butter market consists of sales of milk and butter by entities (organizations, sole traders and partnerships) that produce processed milk products such as pasteurized milk, cream, creamery butter, sour cream and fluid milk dairy substitutes from soybeans and other non-dairy substances. The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments.
Global Milk And Butter Market Size And Drivers:
The global milk and butter market is expected to grow from $299.72 billion in 2020 to $316.44 billion in 2021 at a compound annual growth rate (CAGR) of 5.6%. The market is expected to reach $417.26 billion in 2025 at a CAGR of 7%. The increasing demand for local, sustainable and organic food production is expected to positively impact the milk and butter manufacturing market during the forecast period.
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Trends In The Global Milk And Butter Market
The internet of things (IoT) technology is increasingly being used to track dairy products including milk and butter and to ensure safe product handling. IoT technology consists of a network of devices, vehicles or other items that continuously exchange data and provide insights about a process or system. This technology is being used to track ingredients being used in products. Equipment connected to the internet in trucks and storage coolers can be used to monitor dairy products and tag them with environmental conditions like temperature or location that provide information about safe product handling during transportation.
Global Milk And Butter Market Segments:
The global milk and butter market is further segmented based on type, distribution channel, application and geography.
By Type:Milk-Dairy, Butter
By Distribution Channel:Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others
By Application:Food, Beverages, Intermediate Products, Condiments, Other
Subsegments Covered:Butter Milk, Powdered Milk, Liquid Milk, Concentrated Milk
By Geography:The global milk and butter market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global milk and butter market, accounting for 49% of the total market.
Read More On The Report For The Global Milk And Butter Market At:https://www.thebusinessresearchcompany.com/report/milk-and-butter-global-market-report-2020-30-covid-19-impact-and-recovery
Milk And Butter Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides milk and butter market overviews, analyzes and forecasts market size and growth for the global milk and butter market, milk and butter market share, milk and butter market players, milk and butter market segments and geographies, milk and butter market’s leading competitors’ revenues, profiles and market shares. The milk and butter market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.