The butter milk market has been segmented on the basis of type and application. Based on type, the market has been divided into sour butter milk and sweet butter milk. In terms of application, the butter milk market has been segregated into beverages, frozen desserts, confectionery items, soups & sauces, specialty foods, salads & dressings, and others. The beverages segment is expected to hold a leading share of the market during the forecast period, due to shift in the consumer preference toward healthy drinks.
The butter milk market is primarily driven by health benefits associated with the consumption of butter milk. Adoption of healthier lifestyle and need for the prevention of chronic health issues such as diabetes and obesity are factors driving the butter milk market. On the other hand, lack of knowledge regarding the benefits of the consumption of butter milk is restraining the butter milk market.
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Additionally, rising demand for butter milk from developing countries due to the increasing diabetic population in these countries is expected to generate growth opportunities for the global butter milk market.
Geographically, the global butter milk market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to dominate the global butter milk market, both in terms of revenue and volume, due to the rising health concerns among the people in the region. Moreover, the U.S. is a leading producer of butter milk. The market Asia Pacific, which includes China, India, Japan, and Australia, is anticipated to experience rapid growth during the forecast period.
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This is attributable to the rising diabetic population and the increasing prevalence of obesity in the region. Moreover, butter milk as a key ingredient to many food items is also expected to trigger the growth rate of the global butter milk market in Asia Pacific regions. Europe, which includes France, Germany, Italy, and other countries, is expected to gain a significant market share during the forecast period. This is attributable to the growing awareness among the people in the region about general wellbeing and balanced diet.
The global butter milk market has both branded and un-branded companies operating in it. They compete continuously with each other in terms of prices of their products and launches of new products. Some of the key participants in the global butter milk market include Fonterra Cooperative Group, Grain Millers Inc., Agri Mark, Inc., GCMMF, Mother’s Dairy, Hatsun, Dairy Farmers of America, and Associated Mil Producers Inc.