Buttermilk Market Forecast and CAGR
According to the latest research by Fact.MR., the buttermilk market is set to witness steady growth during 2021-2031. Demand for buttermilk is expected to increase in the food & beverage industry. The beverages segment is expected to grow with a significant value CAGR. The health-consciousness among the consumers is one of the driving factors behind the buttermilk market. With the large number of companies offering various flavors in the buttermilk segment, there are wide opportunities for the key players.
What is Driving Demand for Buttermilk?
The increasing preference for healthy and natural beverages in the market is driving the buttermilk market across the globe. The manufacturers are also offering the products in various food & beverage industry segments including bakery, confectionery, desserts, specialty foods, and others, thus increasing the consumption of buttermilk in different segments.
The changing consumer preference from carbonated soft drinks to natural beverages has benefited the manufacturers and has increased sales in the previous few years. The different flavors offered by the companies are attracting new consumers from all age groups to try new products, thus helping to gain traction.
The products offered with a traditional touch are also very well received by the consumers. It is also linked with the refreshing taste and aiding in good digestion among the consumers. The wide applications in the food & beverage industry are supporting the buttermilk market growth.
Health Benefits Associated To Buttermilk Increasing Sales
The sales for buttermilk showed significant growth in the pandemic due to shelf-stable powdered buttermilk offered by the manufacturers and consumers stockpiling healthy products. It contains lactic acid that provides a light acidic or sour taste. It is also a good option for consumers suffering from lactose intolerance as it is easier to digest.
Buttermilk is also beneficial for human consumption as it helps to protect against diseases and bacterial infections. It also offers natural treatment against irritation, swelling, and lack of appetite. The use of buttermilk has increased in the various food & beverage segments such as Frozen bakery, confectionery products, and frozen desserts in powdered form.
The US and Canada Buttermilk Market Outlook
The North American market holds great potential for the buttermilk market with a lot of consumers switching to more healthy and natural products. The US buttermilk market is expected to show significant growth over the assessment period 2021-2031. The demand from the various segments of the food & beverage industry is expected to increase especially the beverage segment such as functional drinks.
The powdered buttermilk segment is expected to show substantial growth over the forecast years owing to the long shelf life and convenience. The consumers in the segment are willing to pay a premium amount for products offering high nutritional value. The business-to-consumer segment is increasing with the increasing distribution of the product in the online retail segment with consumers preferring to shop online in the pandemic.
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Asia Pacific Demand Outlook for Buttermilk
Buttermilk is traditionally consumed in the Asia Pacific countries including India, Thailand, and others. Many consumers in the region still prefer to make buttermilk at home. This affects the market growth in the region, however, the awareness among the consumers about the buttermilk in the region is benefiting the manufacturers. The Business to business segment in the regions holds the highest share in the distribution channel.
With the outbreak of COVID-19, many companies in the region saw slow growth in the production process. With lockdown observed in many countries and newly imposed laws for social distancing, the supply chain was disrupted. This also affected the foodservice industry with many restaurants only offering delivery services. The companies are focusing on using different distribution channels to reach out to consumers.
With the presence of developing countries across the region, the growing urbanization, and rising disposable incomes the buttermilk market is expected to grow over 2021-2031. The market is expected to recover over the next two to three quarters with the COVID-19 situation improving in many countries.
Who are the Key Manufacturers and Suppliers of Buttermilk?
Some of the leading manufacturers and suppliers of buttermilk include
- Ozone Naturals
- The Coca-Cola Company
- All American Foods Inc
- Lactalis Ingredients
- Kutwal Foods Pvt. Ltd
- Heritage Foods Limited
- Borden Dairy Company
- Maahi Milk Producer Company Limited
- Parag Milk Foods
- MEGGLE GmbH & Co. KG
- The Kroger Co
The companies operating in the market are focusing on introducing new and improved flavors for consumers. The companies are also targeting consumers through innovative marketing commercials by focusing on natural and healthy options of buttermilk. The companies are also offering different packaging options for the consumers to consumer buttermilk on the go, to increase convenience and cater to consumers involved in the busy lifestyle.
An Adaptive Approach to Modern-day Research Needs
Buttermilk Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By End-use Industry
- Food & Beverage Industry
- Bakery And Confectionery
- Frozen Desserts
- Specialty Foods
- Soups & Sauces
- Salad Dressings
- Foodservice Industry
- Processed Food Industry
By Distribution Channel
- Business to Business
- Business to Consumer
- Specialty stores
- Convenience Stores
- Online Retail
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.