A 9.4% CAGR is forecast for the clarified butter market, which is predicted to reach a global market value of US$ 6.11 billion by 2033 from an estimated US$ 2.49 billion in 2023.
Partly due to globalization, clarified butter is becoming more and more popular. Customers from the millennial generation are foodies who have played around with the flavor and nutritional value of food.
Since there are fewer barriers preventing the cross-border flow of regional food products, they have more options. The changing dietary aims and taste preferences of customers have led to an increase in sales of clarified butter. The requirement that manufacturers of dairy products now provide a variety of clarified butter options on the international market is a significant driver of the dairy industry’s expansion.
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High Product Cost is a Crucial Market Setback
It is projected that the market expansion will be hampered by the high cost of clarified butter in comparison to other cooking oils. In the coming years, it is also estimated that the expanding consumer trend towards low-fat and vegan diets may restraint market expansion.
Regional Standpoints
Asia Pacific became the largest regional market, holding a share of over 45% of the market. Clarified butter is commonly used in a variety of dishes, including biscuits, cookies, chicken, scallops, paneer, oats, soups, bone marrow, lamb, naan, steak, beef, celery, muffins, brussels sprouts, halwa, rice, dal, biryani, pancakes, fudge, skillets, and paratha.
The European market is expected to grow at a notable 14.8% CAGR between 2023 and 2033. It is anticipated that clarified butter will become a more popular staple meal in countries like Germany, the UK, France, and Italy, where a significant portion of the population places a high priority on health. In the coming years, it is anticipated that an increase in migration from South Asian nations including Bangladesh, Pakistan, and India is poised to create new clarified butter market.
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Key Takeaways
- In the nature category, the conventional segment is anticipated to record 8.8% CAGR and reach US$ 3.15 billion by 2033.
- More than 55% of global income came from the traditional sector of nature category.
- Over 85% of global revenue was generated through offline distribution channels.
- From 2023 to 2033, the CAGR of 12.1% is anticipated for the online retail stores segment of the clarified butter market.
- With a share of more than 45% throughout the course of the forecast period, Asia Pacific became the dominant clarified butter market.
- The significant CAGR of 14.8% is predicted for Europe between 2023 and 2033.
- By 2033, China is anticipated to have a projected market worth US$ 1,799.72 million, recording 14.3% CAGR.
- An estimated US$ 513.2 million is spent on the clarified butter market in the United States.
- From 2023 to 2033, Japan and Canada market are expected to expand at respective rates of 4.9% and 8.3%.
- Germany is anticipated to register a CAGR of 6%.
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Competitive Landscape
Leading companies in the global clarified butter market are Organic Valley, Roil Foods Ltd., Verka USA, Grassland Dairy Products, Inc., Netherend Farm Ltd., Amul, Avera Foods (Pty) Ltd., Nordic Creamery, Grassland Dairy Products Inc., Beneficial Blends LLC, and Lurpak.
The main prospects for clarified butter producers globally are new developments in food packaging and expanding markets in emerging nations.
Recent Development
- Investment
To expand distribution channel and innovation in product line, 4th & heart closed a US$ 7.6 million funding steered by Harbinger Ventures, a capital investor. Similar to this, IndoCan Honey Pvt Ltd funded of US$ 1 million to NutriMoo, a firm that also produces dairy products and clarified butter.
- Launch
In Andhra Pradesh, India, Heritage Foods Limited opened its first official store in 2018. This tactical move was intended to increase its regional footprint within the nation.
Key Segments
By Nature:
- Conventional
- Organic
By Packaging Type:
- Jars
- Tubs
- Tins
By Distribution Channel:
- Online
- Offline
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