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Soaring Demand Set to Propel Milk And Butter Market to $441.19 Billion by 2029
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Is the Expected CAGR for the Milk And Butter Market Through 2025?
The size of the milk and butter market has seen a powerful surge in its growth over the recent years. From $336.84 billion in 2024, it is projected to reach a staggering $355.72 billion in 2025, with a compound annual growth rate (CAGR) of 5.6%. The growth achieved in the historic period may be credited to factors such as the expansion of dairy farming, the critical role of dairy as nutritional staples, the growth in the dairy industry, its traditional use in cooking, and the impact of global trade.
What's the Projected Size of the Global Milk And Butter Market by 2029?
In the coming years, the market for milk and butter is projected to experience substantial growth, eventually reaching a value of $441.2 billion by 2029, which represents a compound annual growth rate (CAGR) of 5.5%. Factors that contribute to this anticipated growth during the forecast period encompass a range of trends including varied dairy substitutes, health and wellness movements, practices focused on sustainability and ethics, advancements in digital marketing and e-commerce, and the expansion of global markets. Noticeable trends during this forecast period will most likely encompass plant-based dairy alternatives for milk and butter, dairy and lactose-free options, spreads and mixtures of butter, functional dairy enriched with added nutrients, and eco-friendly packaging.
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Top Growth Drivers in the Milk And Butter Industry: What's Accelerating the Market?
The surge in interest for local, sustainable, and organic food production is projected to exert a beneficial effect on the milk and butter manufacturing sector throughout the predicted era. Organic food manufacturing, notably organic dairy goods, tender considerable attention to consumer health, environmental preservation, and the humane treatment of animals. Today's consumers are increasingly becoming preoccupied with food sourcing and preparation methods, indicating a readiness to invest a little extra for items they perceive to be nourishing. For example, The Organic Trade Association, a U.S-based organization that champions organic industries, reported an 11% rise in the sales of organic dairy items and eggs in June 2022 in relation to the preceding years. This escalating demand for organic offerings presents enormous prospects for dairy product manufacturers in both advanced and emerging economies, which is set to propel the market during the forecast period.
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What Trends Will Shape the Milk And Butter Market Through 2029 and Beyond?
The use of the internet of things (IoT) technology in tracking dairy products such as milk and butter, as well as ensuring their safe handling, has been on the rise. IoT technology is a system of interconnected devices or items, including vehicles, which consistently share data and contribute insights regarding a process or system. It is also deployed in tracking the ingredients used in product manufacture. Tools connected online in transport vehicles and storage equipment can supervise dairy items and categorize them based on environmental factors like temperature or location. This elucidates the safe handling of products during transit. An example is the adoption of IoT technology by the Chinese government in the National Food Quality Safety Traceability Platform, to enhance quality and safety in food production supply chains.
What Are the Main Segments in the Milk And Butter Market?
The milk and butter market covered in this report is segmented -
1) By Type: Milk-Dairy, Butter
2) By Application: Food, Beverages, Intermediate Products, Condiments, Other Applications
3) By Distribution Channel: Super markets/Hyper markets, Convenience Stores, E-Commerce, Other Distribution Channels
Subsegments:
1) By Milk-Dairy: Whole Milk, Skim Milk, Semi-Skimmed Milk, Flavored Milk, Organic Milk
2) By Butter: Salted Butter, Unsalted Butter, Clarified Butter (Ghee), Organic Butter, Whipped Butter
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Which Top Companies are Driving Growth in the Milk And Butter Market?
Major companies operating in the milk and butter market include Danone S.A., Inner Mongolia Yili Industrial Group Co. Ltd., Fonterra Group Cooperative Limited, Groupe Lactalis S.A., Saputo Inc., Arla Foods amba, Frieslandcampina, Yakult Honsha Co. Ltd., Louis Dreyfus, Savencia Fromage & Dairy, Nestle S.A., Dairy Farmers of America Inc., Yili Group, China Mengniu Dairy Company Limited, Land O'Lakes Inc., Dean Foods, DMK Deutsches Milchkontor GmbH, Meiji Holdings Company Ltd., The Kraft Heinz Company, The Agropur Diary Co-operative, Sodiaal, Amul, Schreiber Foods Inc., Müller, Foremost Farms, Hiland Dairy, Prairie Farms Diary, St. Mary's Farm, St. Pete's Select, The Turner Dairies, Tillamook Country Creamy Association, Alpenrose Dairy, Challenge Diary.
Which Regions Will Dominate the Milk And Butter Market Through 2029?
Asia-Pacific was the largest region in the milk and butter market in 2023. Western Europe was the second largest region in milk and butter market. The regions covered in the milk and butter market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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