The global salted butter market size was valued at $36.9 billion in 2022, and is projected to reach $56 billion by 2032, growing at a CAGR of 4.3% from 2023 to 2032.— Allied Market Research
WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, July 15, 2024 /
EINPresswire.com/ -- The recent report by Allied Market Research provides a comprehensive analysis of the global
salted butter market, valued at $36.9 billion in 2022 and projected to reach $56 billion by 2032, with a CAGR of 4.3% from 2023 to 2032. This growth is driven by various factors including the versatile applications of salted butter, its convenience for households, and its enduring appeal in traditional culinary practices.
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Production and Composition
Composition: Salted butter typically consists of 80% milk fat and 15-17% water.
Production Process: The production involves churning cream to separate butterfat from buttermilk, followed by adding 1-3% salt, enhancing flavor and acting as a preservative.
Market Segmentation
By Product:
Blocks: Emerged as the global leader in 2022 and anticipated to grow the fastest during the forecast period.
Sticks and Others: Other forms of salted butter also contribute to market dynamics.
By Application:
Commercial: Led the market in 2022.
Household: Expected to be the fastest-growing segment.
By Distribution Channel:
Offline: Dominant in 2022.
Online: Predicted to see the fastest growth.
By Region:
Asia-Pacific: Held the highest market share in 2022 and is expected to continue leading.
North America, Europe, LAMEA: Other significant regions contributing to market growth.
𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
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Market Dynamics
Growth Drivers
Versatility in Cooking: Essential for enhancing the flavor of both sweet and savory dishes, making it a staple in various culinary applications.
Convenience: Pre-salted butter simplifies cooking and baking, particularly beneficial for busy households and those with less cooking experience.
Challenges
Competition from Plant-Based Alternatives: The rise of margarine and vegan butter offers competition, appealing to diverse dietary preferences.
Innovation and Adaptation: Traditional butter manufacturers need to innovate and diversify product lines to meet evolving consumer demands.
Consumer Trends
Premium Ingredients: Growing demand for high-quality, authentic ingredients driven by increased interest in home cooking and baking.
HORECA Sector: The growth of the hotel, restaurant, and catering sector boosts the demand for premium ingredients like salted butter.
𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝:
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Key Findings of the Study
Based on product, the blocks sub-segment emerged as the global leader in 2022 and is anticipated to be the fastest growing during the forecast period.
Based on application, the commercial sub-segment emerged as the global leader in 2022 and the household sub-segment is anticipated to be the fastest growing during the forecast period.
Based on distribution channel, the offline sub-segment emerged as the global leader in 2022 and the online sub-segment is anticipated to be the fastest growing during the forecast period.
Based on region, Asia-Pacific registered the highest market share in 2022 and is projected to maintain its position during the forecast period.
𝐓𝐨𝐩 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
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𝗔𝗯𝗼𝘂𝘁 𝗨𝘀
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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