Reduced Fat Butter Market Size Worth $1.16 Billion By 2025 | CAGR 4% Grand View Research, Inc.
SAN FRANCISCO, Nov. 21, 2019 /PRNewswire/ -- The global reduced fat butter market size is expected to reach USD 1.16 billion by 2025 expanding at a CAGR of 4.0% from 2019 to 2025, according to a new report by Grand View Research, Inc. Growing awareness regarding the health benefits of the product, such as weight management and better digestion, is expected to drive the demand over the forecast period. Rising health consciousness and demand for healthy food products are also among the key factors expected to boost the market growth in the next few years.
Key suggestions from the report:
- Europe was the dominant regional market in 2018. This trend is projected to continue over the next few years
- North America is estimated to register the fastest CAGR from 2019 to 2025 on account of increased awareness about product benefits
- Key companies in the global reduced fat butter market include Palsgaard; Ornua Co-operative Ltd.; Upfield; Amul Milk Union Ltd.; Finlandia Cheese, Inc.; Kerrygold USA; Saputo Dairy Australia Pvt. Ltd.; Land O'Lakes, Inc.; and Devondale
- These companies focus on new product development and capacity expansion to estimate existing and future demand patterns from upcoming product segments
Read 80 page research report with ToC on "Reduced Fat Butter Market Size, Share & Trends Analysis Report By Distribution Channel (Store-based, Online), By Region (North America, Europe, APAC, MEA), And Segment Forecasts, 2019 - 2025'' at: https://www.grandviewresearch.com/industry-analysis/reduced-fat-butter ...
Rising usage of reduced fat butter as a substitute for traditional butter is also boosting the market growth. In addition, constant product innovation by key companies will contribute to the demand. For instance, Amul Milk Union Ltd. introduced Amul Lite. It does not have preservatives and is low in saturated fat content. It also contains vitamins and omega-6 and -3, which help maintain healthy cholesterol levels. Store-based distribution channel segment held the largest of the global market in 2018.
Easy availability of a wide range of products offered by premium and local brands along with attractive discounts and offers is estimated to boost the product sales through store-based distribution channel. Moreover, rapid development of organized retail sector has provided new growth opportunities. The online distribution channel is expected to register the fastest CAGR of 4.3% over the forecast period. Rising number of smartphone and internet users is the key reason behind the segment growth. In addition, cashbacks and other offers and home delivery services provided by e-commerce companies are expected to drive the segment.