London, 14 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global butter market 2015-2019, which is expected to grow at a CAGR of 4.84% during the forecast period of 2014-2019.
Growing popularity of the gourmet style of cooking coupled with the growing preference for natural ingredients of butter propel growth in this market. In the gourmet style of cooking, fresh ingredients and butter are used and does not involve the use of packaged ingredients. Food cooked in this style is extremely healthy, and the recent change in preference towards healthy and natural food products will augment the demand for butter globally.
“Globally, there has been an increase in gourmet cooking styles as people nowadays prefer cooking new dishes at home. In regions like Americas and APAC the trend of gourmet cooking is rising. The rising foodie culture for having a variety of cuisines and rich diet drive market growth,” says Faisal Ghaus, Vice President of Technavio.
“The growth of the organized retail sector also drives market growth. With the development in food chains and awareness about the different cooking styles, people are becoming aware of different cuisines of the world and trying those recipes at home.”
Key Market Drivers:
- Increase in Consumption of Food with Natural Ingredients.
- Increasing Demand from Developing Countries.
- Innovative Packaging.
- Technological Innovation Resulting in Product Efficiency.
Key Market Trends:
- Heightened Interest in Gourmet Cooking.
- Innovations in Flavors.
- Increase in Demand for Low-fat Butter.
- Growth of Organized Retail Sector.
Key Market Vendors:
- Arla Foods
- Amul
- Kraft Foods Group
- Land O’Lakes
- Nestle SA
- Organic Valley
- Ornua Foods North America
- Royal Friesland Campina
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
