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Friday 7 February 2020

What Was the Size of the Ice Cream Market from 2018-2025

Ice Cream Market Revenue Reach $78.8 Billion | Global Industry Report Forecast 2025 | Market Research Report

The global ice cream market is anticipated to reach USD 78.8 billion by 2025, growing at a CAGR 4.1%, according to a new report by Grand View Research, Inc. The growing demand for premium products especially in developed regions such as North America and Europe is expected to drive the ice creams sales in these regions. The major growth is expected to come from developing regions such as Asia Pacific, Latin America and MEA. Countries such as India and China have a large consumer base which is expected to drive the sales in terms of both volume and value. However, growing number of health-conscious consumers is expected to limit the market growth over the forecast period.

The demand for lactose free is also expected to contribute to the market growth during the forecast period. The increase in demand for lactose-free ice creams is driven by increase in cases of food intolerances and allergies. Thus, the consumers having lactose intolerance pick lactose-free ice creams. Also, these products are opted by the consumers who are health conscious and prefer healthy foods.

Companies are introducing many new and innovative flavors in the ice cream segment to increase their revenue. For instance, in 2017, Ben & Jerry’s introduced three new flavors in summer to increase their sale. The introduction of new flavors and formats is also expected to contribute significantly to the growing sales across the globe.

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Further Key Findings From the Study Suggest:
  • The impulse segment has outgrown the take-home segment in 2016 and is expected to dominate the market during the forecast period. The ice cream is likely to remain an impulse purchase as manufacturers in the developing regions have failed to lure consumers with their bulk products. Manufacturers are expected to extend their impulse product portfolio during the forecast period.
  • The ice cream market is dominated by various countries which includes China, U.S, Japan, Brazil, Italy and Germany. Asia Pacific held the largest market share in 2016 and is expected to dominate the market over the forecast period. Growth is shifting towards emerging countries such as China, India, Brazil, Indonesia, Vietnam, and South Africa and developed regions such as North America and Europe are expected to show slow growth during the forecast period.
  • Some of the key players in ice cream market are Unilever Group, Nestle S.A., General Mills, Inc., Mars, Blue Bell Creameries. There are numerous small and mid-size players which also contribute significantly to the retail sales.
Grand View Research has segmented the ice cream market on the basis of product type and region.

Ice Cream Product Outlook (Revenue, USD Million, 2014–2025)
  • Impulse
  • Artisanal
  • Take Home

Thursday 6 February 2020

What Was the Size of the Bio Vanillin Market 2024

Bio Vanillin Market Is Forecast To Reach $227.7 Million By 2024 | Market Research Report

The global bio-vanillin market is expected to reach USD 227.7 million by 2024, according to a new report by Grand View Research, Inc. Bio vanillin is used in a broad range of applications including food & beverages, cosmetics, and pharmaceuticals on account of its superior flavor inducing properties which will result in propelling demand over the forecast period.

Increasing production through the microbial conversion process will be a major factor in realizing the full potential of bio vanillin over the forecast period. This factor will have a positive impact on the overall market. Its ability to mask the bitter taste in medicines will also play a significant role in increasing its penetration in the pharmaceutical sector.

U.S. Bio Vanillin Market volume, by application, 2013–2024 (Tons)
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Further key findings from the report suggest:
  • Pharmaceuticals are expected to remain a high potential segment for the product owing to its increasing application as a flavoring agent in various medicinal syrups and tablets. It is projected to experience significant volume gains at a CAGR of 8.3% over the forecast period. Moreover, its non-dispersive properties make it a viable option for use as an intermediate for synthesizing pharmaceuticals.
  • Fragrances were the second largest segment and accounted for 24.2% of the global volume share in 2015. Flavors and fragrances have a broad range of applications in various industries including cosmetics, detergents, personal care products, and chemical formulations. Growing consumer awareness about natural products has also influenced the demand for natural fragrances.
  • Asia Pacific was the largest market accounting for 37.9% of the global volume share in 2015. The growth of the food & beverage sector in emerging economies including China and India has been a primary growth factor for driving the demand for flavors & fragrances.
  • Asia Pacific was the largest producer of natural vanillin owing to the presence of vast farmlands of the crop in Malaysia. However, high demand for vanillin which outpaces the production on account of the presence of numerous food & beverage and pharmaceutical manufacturers has resulted in manufacturers looking at alternative methods of increasing production. Growing demand for biobased products due to their environment friendly characteristics and properties equivalent to synthetic counterparts has led to an increasing commercialization and usage of bio vanillin over the past few years, and the trend is anticipated to continue over the forecast period.
  • Europe is expected to witness substantial gains over the forecast period on account of high consumer demand for biobased products. Moreover, the presence of stringent regulatory framework supporting the use of biobased products, especially in food & beverages and fragrances, is expected to propel the demand for bio vanillin in the region over the forecast period.
  • Major bio vanillin manufacturers include Ennloys, Solvay S.A., Apple Flavor & Fragrance Group Co Ltd, International Flavors & Fragrances, Inc. and Evolva Holding. Joint ventures and partnerships are expected to be a key feature of the market to develop advanced biotechnology.
Grand View Research has segmented the global bio vanillin market by end use and region:

Application Outlook (Volume, Tons; Revenue, USD Million, 2013–2024)
  • Food & beverage
  • Fragrance
  • Pharmaceuticals

What Was the Size of the Poly Alpha Olefin (PAO) Market from 2016-2025

Poly Alpha Olefin (PAO) Market Revenue Reach $1.58 Billion | Global Industry Report Forecast 2025 | Market Research Report

The global poly alpha olefin (PAO) market is expected to reach USD 1.58 billion by 2025, according to a new report by Grand View Research, Inc. Increasing offshore drilling activities coupled with growing automotive industry is expected to drive the demand for poly alpha olefin in synthetic lubricant application. High growth markets such as India, China, UAE, and Brazil have been shifting their preferences towards high-grade lubricants from conventional mineral oils. This factor is anticipated to remain the key driving factor for the growth of PAO over the forecast period.

PAO has various advantages over conventional lubricants such as wear & tear protection, excellent thermal stability, and good load carrying capacity which is anticipated to propel PAO industry growth over the forecast period.

PAO based synthetic fluids are expected to gain importance in future owing to lower toxicity, bioaccumulation potential and fluid loss as compared with oil base fluids (OBF). Growing concern toward downhole losses and rising maintenance expenses in deepwater projects have urged oil & gas companies to move toward such efficient drilling oils.
U.S. poly alpha olefin (PAO) market revenue by application, 2014–2025 (USD Million)
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Further key findings from the report suggest:
  • The global poly alpha olefin (PAO) market demand was 582.4 kilo tons in 2015 and is expected to reach 815.2 kilo tons by 2025, growing at a CAGR of 3.5% from 2016 to 2025
  • The engine oil was the leading application segment and accounted for over 65% of total market volume in 2015. Growth in this sector may be attributed to increasing use of motor oil in automobile industry under extreme temperatures.
  • Europe PAO market is anticipated to grow at a CAGR of 3.1% from 2016 to 2025 and accounted for over 40% of global volume in 2015. The growth may be attributed to regulatory support towards biodegradable products such as The Blue Angel Scheme and The White Swan Scheme.
  • Asia Pacific accounted for over 12% of the total market volume in 2015 and is estimated to be the fastest growing regional market on account of growing automotive industry which is experiencing a shift from mineral to synthetic based lubricants
  • Key industry participants in the market include Chevron Phillips Chemical Company LLC, ExxonMobil, Tulstar Products, Inc, INEOS Oligomers, Chemtura Corporation, NACO Corporation, Shanghai Fox Chemical Technology Co., Ltd., Lubricon Industries, Idemitsu Kosan Co., Ltd., Mitsui Chemicals, Inc., Shell Chemical Ltd.
Grand View Research has segmented the poly alpha olefin market on the basis of application and region:

Global Poly Alpha Olefin (PAO) Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014–2025)
  • Gear Oil
  • Engine Oil
  • Compressor Oil
  • Grease
  • Others

What Was the Size of the Stevia Market from 2018-2024

Stevia Market Is Estimate To Reach $553.7 Million By 2024 | Market Research Report

The global stevia market size is expected to reach USD 553.7 million by 2024, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.1% during the forecast period. Soaring demand for low-calorie sweeteners is expected to be a major factor propelling market growth. Considering the market is still at a nascent stage, the market is yet to realize its full potential.

Stevia contains rebaudioside-A and stevioside, which are responsible for imparting high degree of sweetness without any side effects on health. This is the major reason for the growing demand for stevia over the past few years.
Stevia acts as a natural sugar substitute. The production process starts with a herbal plant called stevia rebaudiana, which is a member of the Chrysanthemum family and grows naturally in the forests of Brazil and Paraguay. The components of stevia leaves responsible for the plant’s sweetness are glycosides.

Beverages form the largest application segment and in 2015, accounted for 34.7% of the total volume. This can be attributed to increasing market penetration of stevia in various soft drinks, juices, teas, and nectar. Companies such as PepsiCo, Inc. and The Coca-Cola Company have incorporated the product in their diet soft drinks and are marketed as drinks with no side effects on consumer health. Biotechnology companies are marketing the product in various forms such as liquids and powders. It is expected to replace sucrose in various food products including confectionery jellies, traditional cakes, biscuits, and other baked products.

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Further key findings from the report suggest:
  • The global market generated USD 337.7 million in 2015 and is anticipated to progress at a CAGR of 6.1% during the forecast period
  • Beverages accounted for the largest share by application in 2015, holding 34.7% of the total volume. The segment is expected to witness the fastest growth over the forecast period owing to increasing use of stevia in various carbonated drinks to expand consumer base
  • Asia Pacific was the largest market, accounting for 35.3% of the global market volume in 2015. Positive outlook of the food and beverage sectors in China, Japan, South Korea, and Vietnam is expected to promote the consumption
  • PureCircle Limited, GLG Life Tech Corp, and Stevia Corp are some of the major producers. Stevia First Corp, Cargill, and Evolva S.A. are other major players in the market. These players are integrated across various stages of the value chain in order to improve their contribution margins and gain higher market share
Grand View Research has segmented the global stevia market by application and region:

Stevia Application Outlook (Volume, Tons; Revenue, USD Million, 2013–2024)
  • Beverage
  • Food
  • Pharmaceuticals
  • Tabletop sweeteners
  • Others

Wednesday 5 February 2020

What Was the Size of the Bioactive Ingredient Market from 2016-2024 | Market Research Report

Bioactive Ingredient Market Is Forecast To Reach $51.71 Billion By 2024 | Market Research Report

The global bioactive ingredient market is expected to reach USD 51.71 billion by 2024, according to a new report by Grand View Research, Inc. Increasing disposable income coupled with growing health awareness among consumers is expected to aid the market growth. Their functional properties are capable of acting on the human metabolism physiology by providing potential health benefits.

The extraction of these bioactive compounds from original sources provides ample opportunities for adding value to food products and also improves the dietary patterns of the changed consumer’s lifestyle. They also help in preventing diseases related to heart, cancer, degenerative forms and Alzheimer’s.
Marine environment is a significant source for yielding bioactive components. Consumption of long-chain fatty acids by some fish species is strongly associated with protection from coronary heart diseases (CHD). Fish Origin Omega 3 PUFA oil are claimed to have a lot of health benefits related to a person’s diet.

Recently, it has been reported that there is an increasing demand for fish oils and fish oil fortified products across various regions. Marine organisms are potentially identified for calcium, antioxidants, anti-hypertensive proteins, selenium, and chitin. Their usage in functional food segment is regarded as the most important part and is expected to affect the overall market over the next eight years.
However, extraction of medicines derived from plants is affecting the environment by causing deforestation and is expected to affect the industry critically over the forecast period. Also, to meet the rising consumer’s interest for these products, manufacturers is putting a lot of pressure on the marine organisms.

Recent technological advances such as microencapsulation are adopted for protecting bioactive ingredients from unwanted reactions and oxidation. There is a rising demand among manufacturers to find suitable solutions that provide higher productivity and adequate quality of the final products.

U.S. bioactive ingredients market revenue by product, 2014–2024 (USD Billion)


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Further key findings from the report suggest:
  • Fibers were the leading product segment and accounted for over 25% of global revenue in 2015. The effectiveness of fibers and rising awareness regarding its benefits are the primarily attributed reasons for this scenario.
  • Functional food & beverage product segment is expected to witness the highest CAGR of 7.4% over the forecast period. The consumers owing to its potential health benefits prefer this segment.
  • Asia Pacific was the leading consumer and accounted for over 35% of total revenue in 2015. The region is also expected to witness the highest growth of 7.5% over the next eight years. Changing lifestyle coupled with rising health consciousness among people particularly in China and India is drive the regional growth.
  • Key industry participants include Mazza Innovation Ltd., Sabinsa Corporation, Ingredion Incorporated, BASF, Cargill Inc, Ajinomoto Co. Inc, Archer Daniel Midland Company and DuPont.
Grand View Research has segmented the bioactive ingredient market on the basis of product, application and region:

Global Bioactive Ingredients Product Outlook (Revenue, USD Billion, 2014–2024)
  • Fiber
  • Vitamins
  • Omega 3 PUFA
  • Plant extracts
  • Minerals
  • Carotenoids & antioxidants
  • Probiotics
  • Other types
Global Bioactive Ingredients Application Outlook (Revenue, USD Billion, 2014–2024)
  • Functional food & beverages
  • Dietary supplements
  • Clinical Nutrition
  • Personal care
  • Other products

 

What Was the Size of the Advanced Carbon Materials Market from 2016-2024

Advanced Carbon Materials Market Revenue Reach $5.29 Billion | Global Industry Report Forecast 2024 | Market Research Report

The global advanced carbon materials market is expected to reach USD 5.29 billion by 2024, according to a new report by Grand View Research, Inc. Growing demand for fiberglass products in construction, automotive and energy applications, as a lightweight material, is likely to have a positive impact. Furthermore, technological advancement for the development of carbon nanomaterials is expected to increase the industry penetration over the next eight years.

The demand for graphene was 481.2 tons in 2015 and is projected to witness growth in light of its increasing usage as a protective coating for manufacturing flexible electronic devices and smartphones. In addition, companies are focusing on innovation to develop products catering to niche applications. In June 2015, Sweden-based Graphensic developed a new graphene-derived resistance standard measurement kit which is capable of observing Quantum Hall effect at high temperature and low magnetic temperature.

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Further key findings from the report suggest:
  • Energy is expected to foresee revenue growth at a CAGR of 6.8% from 2016 to 2024. Growing demand for photovoltaic (PV) cells in light of providing high efficiency as compared to conventional solar devices is expected to promote the usage of advanced materials, particularly carbon nanotubes as filling agents.
  • Aerospace & defense generated revenue worth USD 1.06 billion in 2015. Increasing utilization of CFRP for manufacturing fuselage components and wing boxes for optimizing aerodynamic efficiency is likely to have a positive impact on market growth over the next eight years.
  • Fibers are likely to witness volume growth at a CAGR of 6.5% from 2016 to 2024. Significant demand for carbon fiber reinforced plastics (CFRP) in automotive, construction and electronics applications in light of providing excellent high initial strength-to-weight ratio is expected to remain a favorable factor.
  • Asia Pacific generated a revenue of USD 878.2 million in 2015 and is anticipated to witness substantial gains over the forecast period on account of the expansion of the manufacturing sector. In May 2016, Foxconn announced the establishment of Apple iPhone manufacturing facility at USD 10 billion in Maharashtra by 2020. This initiative is expected to open new markets for these advanced materials over the forecast period.
  • Key manufacturers include Toray Industries, Hexcel, Mitsubishi Rayon, Showa Denko, Thomas Swan, Graphenea SA, and Graphene Laboratories. Companies are focusing on new product development and formation of strategic alliances with technological companies. For instance, in July 2016, Showa Denko developed a new grade of carbon nanotube under the brand name, VGCFTM-X, with optimized design for resin composite applications.
Grand View Research has segmented the global advanced carbon materials market by product, application, and region:

Product Outlook (Volume, Tons; Revenue, USD Million, 2013–2024)
  • Carbon fibers
  • Graphene
  • Carbon nanotubes
  • Structural graphite
  • Carbon foams
Application Outlook (Volume, Tons; Revenue, USD Million, 2013–2024)
  • Aerospace & Defense
  • Energy
  • Electronics
  • Sports
  • Automotive
  • Construction
  • Others

What Was the Size of the Biorationals Market from 2016-2024

Biorationals Market Is Forecast To Reach $2.75 Billion By 2024 | Market Research Report

The global biorationals market is expected to reach USD 2.75 billion by 2024, according to a new report by Grand View Research, Inc. Shifting consumer trend towards natural and organic crop stress management products has played a major role in promoting industry growth over the next eight years. Currently, biorational products are widely used in agriculture, structural pest control, forestry, public health, aquaculture, turf, and home and garden. Ecological pest control technologies enable maximization of quality crop yield and help the end-users achieve agricultural sustainability.

Favorable initiatives in Europe such as “Green Crop Protection” has urged biorational producers to invest in product innovation and develop eco-friendly solutions for their clientele in the agriculture industry.

Botanicals, plant-derived products such as rotenone, pyrethrum, sabadilla, and ryania accounted for over 40% of the total market revenue in 2015. Owing to its target-specific pest control characteristics it is considered under minimum risk pesticides type by the U.S. EPA, thereby resulting in increasing adoption among agricultural communities. However, factors such as high mammalian toxicity, short life, rapid break down, and non-target specific products are expected to exhibit negative impact on the segmental growth over the next few years.
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Further key findings from the report suggest:
  • Semiochemicals dominated the global biorationals industry and are anticipated to witness high demand in Europe. Product demand in France is expected to exceed USD 75.0 million by 2024.
  • Fruits & vegetables emerged as the leading segment in 2015 and are expected to witness high growth in Asia Pacific. The segment is anticipated to grow at a CAGR of over 13% in India over the forecast period.
  • Stringent regulatory framework regarding pesticide residues in wheat, corn, and rice is anticipated to steer biorationals demand for cereals & grains.
  • North America emerged as the leading regional market in 2015. Ongoing investments for enhancing food security and yield rate in the U.S. have contributed to significant demand in the region. Product demand in the U.S. was valued over USD 300 million in 2015.
  • Europe is expected to emerge as the fastest growing regional segment, and its market size is anticipated to exceed USD 700 million by 2024. High growth in the region can be attributed to increasing agricultural land use across various countries such as Spain, Italy, France, and Turkey.
  • Key industry participants in the market include Suterra, LLC, Russell IPM Ltd., Agralan Ltd., Rentokil Initial Plc, McLaughlin Gormley King (MGK), Koppert BV, BASF SE. Bayer AG, Inora, Isagro Spa, Gowan Company, LLC, and Summit Chemical.
Grand View Research has segmented the biorationals market on the basis of product, crop, and region:

Global Biorationals Product Outlook (Revenue, USD Million, 2014–2024)
  • Botanicals
  • Semiochemicals
  • Others
Global Biorationals Crop Outlook (Revenue, USD Million, 2014–2024)
  • Cereals & Grains
  • Fruits & Vegetables
  • Others

Tuesday 4 February 2020

What Was the Size of the Organic Beverage Market from 2019-2025

Organic Beverage Market Revenue Reach $47.78 Billion | Global Industry Report Forecast 2025 | Market Research Report

The global organic beverages market size is estimated to reach at USD 47.78 billion by 2025 expanding at a CAGR of 13.0%, according to a new report by Grand View Research, Inc. High product demand across the globe and rising disposable income levels in developing economies are some of the major factors boosting the growth of the market. Demand for non-sugary, non-caffeinated drinks will also fuel the product demand over the coming years.

Availability of products with new flavors and ingredients like turmeric, aloe Vera, and activated charcoal in attractive easy-to-carry & -store packaging will also fuel the demand. Non-dairy beverages product segment accounted for the largest market share in the year 2018. Non-dairy drinks are prepared from sources like legumes, plant materials, nuts, and cereals and hence act as functional drinks. Organic beverages are also used as substitute for milk.

Coffee and tea product segment is projected to register the fastest CAGR of 13.8% during the forecasted period. Factors, such as increasing health awareness, preference for organic and natural drinks, and changing lifestyles, are boosting the segment growth. Led by U.S., North America was the largest regional market in the year 2018 owing to presence of target population. The regional market is projected to expand further at a steady CAGR from 2019 to 2025 due to rising number of cafes and food chains in U.S.

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Further key findings from the study suggest:
  • The non-dairy product segment is projected to account for the largest share of the global organic beverage market by 2025
  • Offline distribution channel led the market in 2018. However, the online segment will register the maximum growth rate over the forecast years
  • Asia Pacific is estimated to be the fastest-growing regional market at a CAGR of 17.6% during the forecast period
  • This growth is attributed to rapid urbanization, rising disposable income levels, and establishments of various international retail stores in the emerging countries like China and India
  • U.S., Germany, China, Brazil, and South Africa are the major countries with lucrative growth opportunities for the market in their respective regions
Grand View Research has segmented the global organic beverage market on the basis of product, distribution channel, and region:

Organic Beverage Product Outlook (Revenue, USD Million, 2015–2025)
  • Non-dairy Beverages (Soy, Rice, Oat)
  • Fruit Beverages
  • Coffee & Tea
  • Beer & Wine
  • Others
Organic Beverage Distribution Channel Outlook (Revenue, USD Million, 2015–2025)
  • Offline
  • Online

What Was the Share of the Fish Sauce Market from 2019-2025

Fish Sauce Market Revenue Reach $19.50 Billion | Global Industry Report Forecast 2025 | Market Research Report

The global fish sauce market size is expected to reach USD 19.50 billion by 2025 registering a CAGR of 3.51%, according to a new report by Grand View Research, Inc. Fish sauce contains numerous vital nutrients and minerals including iodine and vitamins A & D. Rising cases of thyroid problems and related diseases have led to an increased demand across the globe, thereby augmenting market growth.

Fish sauce is widely used as a substitute for soy sauce in many countries as it has a numerous health benefits. It is also used as an ingredient for casseroles and soups, which is propelling its demand further. In addition, manufacturers are using natural fermentation processes by using anchovies and sea salt to retain the product’s nutritional value. This is likely to contribute to the market growth.

Fish sauce is a staple ingredient in many cuisines, which is also expected to spur the demand in future. Moreover, print and media advertisements have played a big role in creating awareness about the product, thereby supporting the overall market growth. U.S. being the largest consumer, North America is expected to be the dominant regional market over the forecast period. The market in Central & South America is projected to register the fastest CAGR of 3.8% from 2019 to 2025.

Some of the key companies in the global market are Teo Tak Seng Fish-Sauce Factory Co. Ltd, Pichai Fish Sauce Co., Masan Consumer Corporation, Rayong Fish Sauce Industry Co., Ltd., Shantou Fish Sauce Factory Co., TANG SANG HAH CO., Ltd., Thai Fishsauce Factory (Squid Brand) Co. Ltd., Fish Sauce Co., Ltd., Halcyon Proteins Pty. Ltd., and Hung Thanh Co. Ltd.
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Further key findings from the study suggest:
  • Traditional fish sauce is projected to be the fastest-growing, as well as the largest, product type segment over the forecast years
  • The restaurants application segment is likely to lead the global market expanding at the fastest CAGR of 3.6% from 2019 to 205
  • North America led the global fish sauce market in 2018 and accounted for a market share of 45%. The region is estimated to grow further at a steady CAGR during the forecast years
  • Key companies in the market focus on new product development and capacity and portfolio expansion to estimate existing and future demand patterns from upcoming application segments
Grand View Research has segmented the global fish sauce market on the basis of product type, application, and region:

Fish Sauce Product Type Outlook (Revenue, USD Billion, 2015–2025)
  • Traditional
  • Industrial
Fish Sauce Application Outlook (Revenue, USD Billion, 2015–2025)
  • Domestic/Household
  • Foodservice Industry
  • Restaurants

What Was the Share of the Reduced Fat Butter Market from 2019-2025

Reduced Fat Butter Market Revenue Reach $1.16 Billion | Global Industry Report Forecast 2025 | Market Research Report

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.

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.

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Further key findings from the study suggest:
  • 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
Grand View Research has segmented the global reduced fat butter market on the basis of distribution channel and region:

Reduced Fat Butter Distribution Channel Outlook (Revenue, USD Million, 2015–2025)
  • Store-based
  • Online
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