Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Reduced Fat Butter market.
Trusted Business Insights presents an updated and Latest Study on Reduced Fat Butter Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Reduced Fat Butter market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Industry Insights, Market Size, CAGR, High-Level Analysis: Reduced Fat Butter Market
The global reduced fat butter market size was value at USD 884.7 million in 2018 and is expected to register a CAGR of 4.0% from 2021 to 2026. Growing awareness regarding the health benefits of the product, such as reduced risk of heart diseases and better weight management and digestion, is expected to drive the demand over the forecast period.
Rising health consciousness and demand for healthy food products are also among the key factors expected to boost the market growth in the next few years. Growing incidence of obesity and cardiac arrests is also driving the product demand. In addition, companies are introducing different product forms, such as spreads and non-spreads, which is likely to contribute to the reduced fat butter market growth.
For instance, Kerrygold USA introduced reduced fat Irish natural butter, specifically for grilled vegetables. It has 25% less fat and 50% less sodium than regular butter and is rich in vitamin A and C. Land Olakes launched Light Butter with Canola Oil with cream taste. It has 50% less fat and calories than regular butter.
Store-based distribution channel segment held the largest of the global market in 2018. Based on region, Europe was the dominant regional market in 2018. It is projected to continue to grow over the next few years. However, North America is estimated to register the fastest CAGR from 2021 to 2026.
Store-based distribution channel segment led the market in 2018. Rapid development of organized retail sector has provided new growth opportunities in this segment. Easy availability of a wide range of products offered by premium and local brands along with attractive discounts and offers is estimated to boost the product sales through store-based distribution channel. Some of the major distributors include Walmart Inc., Tesco PLC, Reliance fresh, and Amul Milk Union Ltd.
Online distribution channel is expected to register the maximum CAGR of 4.3% from 2021 to 2026. Major companies are collaborating with online retailers, such as Amazon and Big Basket, to increase their consumer base. They are also establishing their own online portals and websites to boost the product sales. These factors are estimated to drive the online segment.
Regional Insights of Reduced Fat Butter Market
Europe was the largest regional market in 2018 and accounted for a share of more than 31%. High demand in countries, such as U.K., France, Germany, Switzerland, and Denmark drives the regional market. Moreover, strong presence of key companies, such as Agral S.A., Ornua Co-operative Ltd., and Palsgaard, in the region will have a positive impact on the market growth. On the other hand, North America will emerge as the fastest-growing market at a CAGR of 4.7% from 2021 to 2026.
High consumer purchasing power and rising awareness about maintaining a healthy lifestyle are projected to augment the regions growth. Asia Pacific is projected to be the second-largest market due to rising demand and population along with improved standards of living. Moreover, constant product innovation by the regional companies will spur the market growth. For instance, Amul Milk Union Ltd. introduced Amul Lite, which has no preservatives and low saturated fat content.
Market Share Insights of Reduced Fat Butter Market
Key companies in the global market include Palsgaard; Ornua Co-operative Ltd.; Upfield; Amul Milk Union Ltd.; Finlandia Cheese, Inc.; Kerrygold USA; Saputo Dairy Australia Pvt. Ltd.; Land OLakes, Inc.; and Devondale. These companies focus on new product development and capacity expansion to estimate existing and future demand patterns from upcoming product segments.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Reduced Fat Butter Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global reduced fat butter market report on the basis of distribution channel and region:
Distribution Channel Outlook (Revenue, USD Million, 2019 – 2030)
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