The global butter
powder market size is estimated to reach a market valuation
of US$ 2.3 Bn in 2022. Furthermore, with rising applications
in baked goods, dairy products, snack food, confectionery, dietary supplements
etc., the overall demand for butter powder is poised to grow at a CAGR of 6.1% between
2022 and 2032, surpassing a valuation of US$ 4.2 Bn by the end
of 2032.
Butter powder is a powdered form of butter. The butter
powder is made by removing the water levels from the butter. Furthermore,
the milk solids are being cleverly processed with the butter in order to make
the butter powder.
The powdered butter comes under many flavors such as cocoa,
chocolate, coconut, and many others. Unlike real butter, the butter powder does
not require any refrigeration. The refrigeration is required only when it is
being used in food products. The consumers can use the butter powder in many
ways the butter is used in the making of food.
Globally, a large number of manufacturers are entering in
the butter powder market. With this, there is a rapid increase in the
competition in the butter powder market. The increasing competition has led to
manufacturers providing the butter powder either at a competitive price or at a
premium price in order to filter out the customers in the market. The Asia Pacific,
European and North American countries are the major markets in the global
butter powder market.
The butter powder market is rising as a consequence of the
rise in the dairy industry across the world. There is a huge competition in the
overall milk and dairy industry across the world. This has led to companies
providing value addition and innovation in the products they provide.
The butter powder is very easy to carry and handle as
compared to actual butter and has a longer shelf life than that of real butter.
This is driving the development of the overall butter powder market across the
world.
Moreover, there is a noteworthy rise in the competition in
the food & beverage industry that has propelled market players to offer
value, quality, and additional elements to their products which is supporting
the development of the butter powder market at large.
The market is more in the North American and European
regions as a consequence of the change in the lifestyles of the consumers.
Furthermore, consumers across the world are demanding better solutions in the
overall food and beverages industry which is driving the development of the
butter powder market at large.
Butter Powder Market Opportunities
The existing and entering manufacturers in the butter powder
have a great scope in the market. The market participants have opportunities in
proving various attractive blends and mixes in order to enhance the butter
powder and add value to it. The market players also have a great opportunity in
providing innovative and tasty flavor in the butter powder to the consumers.
Moreover, the market participants have huge opportunities in
expanding the powder butter business in developing countries such as India,
China, Australia, Japan, and others. These countries also have the world’s half
of the population which provides a huge business platform to the manufacturers
in the butter powder market.
Manufacturers also have a number of opportunities in the
butter powder market as they can provide healthier options to the consumers.
The rise in the organic business also provides huge scope to the manufacturers
across the world.
Key Companies Profiled:
- Olam
International
- Kanegrade
Ltd
- Alpen
Dairies
- Arla
Foods
- California
Dairies
- Fonterra
International
- Westland
Milk Products
- EPI
Ingredients
- Packit
Gourmet
- Goodman
Fielder
- Grassland
- Murray
Goulbam
- Galactic
Group
- Others
Competitive Landscape
Strong advertising plans are incredibly useful for important
companies in the butter powder sector. As customers grow more aware of the
benefits and ease of using butter powder, key suppliers may extend their client
base with the use of educational and eye-catching advertisements. To promote or
advertise, audio-visual methods including short films, as well as social media
and leaflet distribution, can be employed.
Players could make use of prominent influencers’ enormous
viewing base to boost sales of their items through social media, which has
become the finest platform for selling any product. E-Commerce has become well-known
and respected by manufacturers as it has evolved from uncontrolled online
shopping websites to a successful channel for direct sales over the previous
decade.
For instance,
- In
October 2021, Olam Food Ingredients, a global leader in natural and sustainable
food ingredients and solutions launched its new brand to underline its
customer proposition.
- In
2022, Arla inaugurated its new dairy production plant at Pronsfeld dairy
in Germany to meet the growing demand for affordable dairy nutrition.
Read More :https://www.futuremarketinsights.com/reports/butter-powder-market