The global butter flavour market size is anticipated to gain substantial growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is poised to cross a valuation of US$ 288 million in 2023. It is anticipated to reach a valuation of US$ 569.4 million by 2033. The market is predicted to showcase a CAGR of 7% from 2023 to 2033.
This growth is attributed to the growing demand for custom flavour creations in the food and beverage industry, as it serves as an excellent foundation for a variety of complex flavour profiles and can be used to help replicate specific flavours in products such as confectionery treats, making it an important ingredient throughout the industry.
Popular savoury food items such as potato chips, pretzels, and especially popcorn are a few of the common products in the F&B industry where butter flavours are used extensively to introduce new and innovative flavours in the product portfolio.
Butter flavours can be a side note to other flavours or can be used to create new flavours in snacks. It has gained much traction as an addition to new flavours ranging from sour cream and onion to cheesy garlic flavours, other than being used for a simple buttery flavour.
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The development of butter substitutes such as margarine is one of the most common uses of buttery flavours. As a result, it’s very frequent in the creation of dietary food products that don’t utilize real butter to reduce fat and calories in recipes. In this case, selecting the correct buttery flavour is critical, as the buttery must taste as near to the “real thing” as possible.
Moreover, it is also extensively used in the production of liqueurs, as a key component of butterscotch flavours as well as custom flavoured vodkas and rums. Subsequently, rising demand for value-added food products among consumers along with new food items has supported the growth of the butter flavour market.
Key Takeaways from Market Study
- The butter flavour market by form is expected to expand at CAGRs of 5.6% for liquid form and 9.1% for powder form, through 2032.
- The market is segmented based on product type, wherein vegan accounted for 18.9%, is expected to witness a lucrative growth rate of 9.2% over the forecast period.
- The European butter flavour market is expected to witness a lucrative growth rate of 7.0% during the forecast period.
- Growing consumer preference for healthy and nutritious food products is driving sales of butter flavour across global markets.
- By nature, the natural butter flavour market is anticipated to hold the highest market share of around 57.4% in the year 2022
- Due to the pandemic, the supply chain for the butter flavour market was hampered significantly, resulting in a sale slowdown. However, with economies recovering and increasing consumer demand for healthy and nutritious food products, the industry is likely to rise significantly
Competitive Landscape
Key manufacturers of butter flavour are using both organic and inorganic market strategies to stay afloat in the industry during these testing times. Players in the market are not only investing in new product innovations but have also restored to acquisitions and mergers to widen their global reach.
- Butter Buds, a company producing non-dairy and dairy concentrates, invested in the development of oil-based alternatives that allow producers in the food & beverage industry to replace block butter in many food items, such as bakery products.
- Innova Flavours, a savoury flavor and ingredients supplier was acquired from Griffith Foods Worldwide by an Ireland-based Carbery Group called Synergy Flavors in 2021.
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Segmentation Analysis of the Global Butter Flavour Market
By Form :
- Liquid Form
- Powder Form
By Nature :
- Natural
- Organic
- Artificial
By Product Type :
- Vegan
- Dairy Based Flavours
By End Use Application :
- Baked goods
- Savoury
- Soups, Sauces, Condiments
- Prepared Food & Ready Meals
- Meat Poultry & Seafood
- Seasoning Blends
- Savoury snacks
- Dairy Products
- Vegan Milk
- Hot chocolate
- Ice Cream & Dessert
- Yogurt
- Flavoured Milk
- Spreads
- Other Dairy Products (Cream, Butter milk)
- Dry Beverage Mix
- Instant Coffee
- Cocoa
- Protein Blends
- Confectionery
- Dry Mixes (Pancake, waffle, muffin)
- Meal Replacers
- Microwave Popcorn
- Margarines
- Snack food
- Breakfast Cereal
- Dietary Supplements
- Sports Nutrition
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Key Questions Answered in the Report
What was the market for butter flavour worth in 2021?
The global butter Flavour market value was around USD 258.7 Mn in 2021.
At what rate will the butter flavour market grow through 2032?
Butter Flavour market revenue is expected to increase at a CAGR of around 7.1% during the period 2022-2032.
How big will the butter flavour market be b 2032?
Butter Flavour market is anticipated to reach a valuation of USD 550.1 Mn by 2032.
Which region is expected to drive the demand in the butter flavour market?
Europe is anticipated to drive the demand for butter Flavour market during the forecast period of 2022 to 2032.
Who are the key players operating in the butter flavour market?
Few of the key players in the market are Butter Buds Inc., DairyChem Inc., The Tatua Co-operative Dairy Company Limited, H.B. Taylor CO. among others.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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