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Spreadable Butter Market : Future Demand, Growth, Share and Analysis with forecast 2024
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According to the report, the preference for natural ingredients in diet has egged consumers to opt for spreadable butter. New methods to manufacture spreadable butter so that cent percent pure spreadable butter can be obtained is serving to boost demand. Apart from that, addition of other ingredients in spreadable butter leading to different flavors and varieties such as salted and unsalted, being purveyed in the market is also helping to attract consumers. Varying degree of butterfat content is also serving to bring about swift uptake as it caters to the needs to different consumers. All these drivers are helping the market to expand at a healthy clip.
Posing a challenge to the global spreadable butter market is macroeconomic factors such as government regulation pertaining to the licensing, import, export, tariffs, and production. Further, the varied grading system of the butter based spread, which is a type of spreadable butter, in different markets on basis of butterfat content is also creating a hassle. Substitutes such as margarine are dampening sales too, to a degree.
Having thrown light on the growth drivers and restraints, the report segments the global spreadable butter market depending upon different parameters. Based on distribution channels, for example, it divides the market into supermarket/hypermarket, online sales, specialty stores, retail stores, and departmental stores. Depending upon content again, the market is split into dairy (butterfat) content and non-dairy content. The dairy (butterfat) content is further sub segmented into high butterfat content and low butterfat content. Spreadable butter primarily finds application in dairy, bakery, convenience food, confectionary, beverages, etc.
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The regions in the global spreadable market studied in the report are Asia Pacific, Latin America, North America, Europe, and the Middle East and Africa. Of them, Europe accounts for maximum market share and is followed by Asia-Pacific. Vis-à-vis growth rate, the Middle East is slated to steal the show.
Some of the prominent names in the global market for spreadable butter are Fonterra Co-operative Group, Dairy Crest, Danish Dairy Board (Arla Foods), Ornua, and Unilever.
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