The Latin America, Middle East and Africa Butter Blocks Market would witness market growth of 4.4% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 199.7 Kilo Tonnes, showcasing a growth of 5.3% (2024-2031).
Online distribution plays a crucial role in the butter blocks market by providing convenient access to a wide range of consumers. Through e-commerce platforms and online retailers, butter manufacturers can reach consumers beyond traditional brick-and-mortar stores, tapping into global markets and niche customer segments. Online distribution offers several advantages, including increased visibility, broader geographic reach, and 24/7 accessibility for consumers to purchase butter blocks at their convenience. Therefore, in Brazil, it is expected that 18.42 kilo tonnes of butter blocks would be sold online by the year 2031.
The Brazil market dominated the LAMEA Butter Blocks Market by Country in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $806.6 million by 2031. The Argentina market is capturing a CAGR of 5.2% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 4.1% during (2024 - 2031).
The butter blocks market represents a dynamic and evolving segment within the dairy industry, driven by consumer demand for high-quality, natural ingredients and culinary experiences. As consumers continue to embrace butter blocks for their versatility, flavor, and convenience, the market is poised for further growth and innovation, with opportunities for industry players to capture market share and meet the evolving needs of discerning consumers worldwide.
The versatility of butter blocks makes them a staple in various culinary applications. Butter blocks are esteemed for their capacity to augment the flavor and texture of dishes, be it in baking, cooking, or spreading on toast or crackers. Their versatility allows consumers to use them in various recipes, contributing to sustained demand. Also, globalization and cultural influences impact the demand for butter blocks in different regions. Cultural traditions, culinary practices, and dietary habits influence consumer preferences for butter blocks. For example, in certain regions, butter blocks are preferred over other forms of butter for their suitability in traditional recipes and cooking methods.
Saudi Arabia, in particular, plays a crucial role in driving the demand for butter blocks in LAMEA. Saudi Arabia has a thriving restaurant industry with various dining options ranging from traditional Arabic cuisine to international fast-food chains. Major cities like Riyadh, Jeddah, and Dammam are hubs for culinary innovation and offer a diverse culinary landscape catering to different tastes and preferences.
According to data from the United States Department of Agriculture, the Saudi food service industry witnessed an estimated value of $25 billion in 2023. Projections indicate that its growth rate will average around 10 percent per annum over the subsequent several years. Consequently, substantial expansion in the food service industry in nations such as the United Arab Emirates and Saudi Arabia propels the butter blocks market in LAMEA.
Free Valuable Insights: The Worldwide Butter Blocks Market is Projected to reach USD 41.2 Billion by 2031, at a CAGR of 3.3%
Based on Type, the market is segmented into Salted, Unsalted, and Others. Based on Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online Stores, and Departmental Stores. Based on Application, the market is segmented into Baking, Cooking, Spreading, and Flavoring. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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