Overview and Scope
Milk is liquid food produced by mammals that are rich in nutrients including lactose and protein. Butter is a solid emulsion of fat globules, air, and water made from churned cream and used for cooking or a spread.
Sizing and Forecast
The milk and butter market size has grown strongly in recent years. It will grow from <b>$321.08 billion in 2023 to $339.65 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. </b> The growth in the historic period can be attributed to dairy farming, basic nutritional staples, dairy industry growth, traditional culinary use, global trade.
The milk and butter market size is expected to see strong growth in the next few years. It will grow to <b>$416.08 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. </b> The growth in the forecast period can be attributed to diverse dairy alternatives, health and wellness trends, sustainability and ethical practices, digital marketing and e-commerce, global market expansion. Major trends in the forecast period include plant-based milk and butter, lactose-free and dairy-free options, butter blends and spreads, functional and fortified dairy, sustainable packaging.
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Segmentation & Regional Insights
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: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
Subsegments Covered: Butter Milk, Powdered Milk, Liquid Milk, Concentrated Milk
<b>Asia-Pacific</b> was the largest region in the milk and butter market in 2023. <b>Western Europe</b> 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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Major Driver Impacting Market Growth
The increasing demand for local, sustainable, and organic food production is expected to positively impact the milk and butter manufacturing market during the forecast period. Organic food production, including organic dairy products, places a strong emphasis on consumer health, environmental protection, and animal welfare. Consumers are now becoming more concerned with how food is raised and prepared and are willing to pay a little more for something they recognise recognize as healthy. For instance, in June 2022, the Organic Trade Association, a US-based trade association representing organic businesses, the sales of organic dairy products and eggs increased by 11% as compared to the previous years. This growing demand for organic products offers considerable opportunities for dairy product producers in both developed and developing countries, which is likely to drive the market during the forecast period.
Key Industry Players
Major companies operating in the milk and butter market include <b> 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.</b>
The milk and butter market report table of contents includes:
1. Executive Summary
2.Milk And Butter Market Characteristics
3. Milk And Butter Market Trends And Strategies
4.Milk And Butter Market analysis
5.Milk And Butter Market Size And Growth
6.Milk And Butter Segmentation
7.Milk And Butter Regional And Country Analysis
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27.Milk And Butter Competitive Landscape And Company Profiles
28.Milk And Butter Key Mergers And Acquisitions
29.Milk And Butter Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Danone S.A.
- Inner Mongolia Yili Industrial Group Co. Ltd.
- Fonterra Group Cooperative Limited
- Groupe Lactalis S.A.
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