The clarified butter market is projected to grow at a compound annual growth rate (CAGR) of 9.4%, reaching a global market value of USD 6.11 billion by 2033, up from an estimated USD 2.49 billion in 2023. This growth is significantly influenced by globalization, which has broadened the acceptance of clarified butter worldwide. Modern consumers, particularly Millennials, are increasingly exploring diverse flavors and nutritional options, driving the demand for this traditional product.
The widespread adoption of clarified butter can be largely attributed to globalization. Today’s consumers, particularly Millennials, have shown a keen interest in food, experimenting with various flavors and nutritional values.
With fewer barriers to the international transport of local food ingredients, consumers now have access to a diverse range of options. This shift in nutritional priorities and taste preferences has created new opportunities in the clarified butter market. As a result, dairy producers are expanding their offerings globally, driving the growth of the clarified butter industry.
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%
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.
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Key Segments
By Nature:
- Conventional
- Organic
By Packaging Type:
- Jars
- Tubs
- Tins
By Distribution Channel:
- Online
- Offline
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Asia
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