Anhydrous Milk Fat (Butter Oil) Market Worth USD 1.98 bn, at 11% CAGR During 2019-2023| Technavio

According to Technavio Research Report “Global Anhydrous Milk Fat (Butter Oil) Market by product (conventional anhydrous milk fat and organic anhydrous milk fat) and geographic regions (APAC, Europe, North America, South America, and MEA) is expected to grow by USD 1.98 billion, at a CAGR of close to 11% from 2019-2023”.

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Technavio has published a new market research report on the global anhydrous milk fat (butter oil) m ...

Technavio has published a new market research report on the global anhydrous milk fat (butter oil) market from 2019-2023. (Graphic: Business Wire)

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Global anhydrous milk fat (butter oil) market: New marketing campaigns

New marketing initiatives and advertising campaigns are being launched by butter oil market players to increase sales. These campaigns are also helpful in highlighting the various benefits of anhydrous milk fat products. In addition, strategically placed marketing campaigns also help in increasing brand awareness and recognition among the consumers. Effective marketing strategies also help to inculcate customer loyalty and trust among existing customers as well as prospective customers. Hence, the growth of marketing initiatives coupled with innovative advertising campaigns will foster the butter oil market growth during the forecast period.

“Vendors in the market are launching digital campaigns for its ghee products. The campaigns are targeting YouTube cooking influencers while demonstrating how to use ghee as an effective alternative to other oils. Advertisements on social media platforms help in creating product awareness and easy identification. Such marketing campaigns will eventually drive butter oil sales during the next few years,” says a senior research analyst at Technavio.

Global anhydrous milk fat (butter oil) market: Segmentation analysis

This market research report segments the global anhydrous milk fat (butter oil) market by product (conventional anhydrous milk fat and organic anhydrous milk fat) and geographic regions (APAC, Europe, North America, South America, and MEA).

APAC led the market in 2018, followed by Europe, North America, South America, and MEA respectively. The market growth in APAC can be attributed to the increased use of ghee in India for cooking and religious ritual purposes. The popularity of ghee due to its longer shelf life compared with butter makes it an ideal choice for several Indian customers. Furthermore, the increasing launch of innovative varieties of butter oil in other economies including China and South East Asia will drive market growth during the forecast period.

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Global anhydrous milk fat (butter oil) market: Expansion of production capabilities

A key factor driving the growth of the global anhydrous milk fat (butter oil) market is the rising investments in expanding production capabilities. Companies across the globe are focusing on expanding their production capacities to cater to the growing demand for butter oil products. Some butter oil manufacturers are also inclined towards acquiring manufacturing plants while entering into a tripartite agreement with local producers of butter oil. Therefore, with growing investments in the market, butter oil manufacturers are increasing their production capacities, which will lead to market growth over the next few years.

Few Major Players for the anhydrous milk fat (butter oil) market are:

  • Fonterra Co-operative Group Ltd.
  • Groupe Lactalis
  • Meadow Foods Ltd.
  • Royal FrieslandCampina NV
  • Saputo Inc.

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