Rising demand for organic and natural products leading to increased consumption of nutmeg butter. To know more, get full research report published by Fact.MR.

ROCKVILLE, MD, UNITED STATES, June 19, 2024 /EINPresswire.com/ -- Fact.MR, a market research and competitive intelligence provider, through its newly published industry analysis, reveals that the global nutmeg butter market is forecasted to increase from a value of US$ 35.9 million in 2024 to US$ 61.8 million by the end of 2034.

Changing preferences of consumers to consume organic and natural products are increasing the demand for nutmeg butter. Several perceived health benefits related to nutmeg, including its anti-inflammatory and antioxidant properties, are projected to result in the adoption of nutmeg butter by various individuals. In addition, market expansion is attributed to the growing popularity of specialty and gourmet food products.

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Increasing adoption of nutmeg butter by health-conscious people as a healthier option compared to conventional butter is driving opportunities for suppliers. Moreover, nutmeg butter has a unique flavor, which is projected to attract food enthusiasts, bakers, and chefs, therefore leading to its increased adoption. The introduction of flavored variants of nutmeg butter with other blended ingredients, including honey, vanilla, cinnamon, etc. is projected to enhance its taste. These advancements are estimated to add versatility to products and match the requirements of a larger consumer base.

Key Takeaway from Market Study

The global nutmeg butter market is set to witness significant growth in the coming decade, with worldwide sales estimated at USD 35.9 million in 2024. This market is projected to expand at a compound annual growth rate (CAGR) of 5.6%, reaching a valuation of USD 61.8 million by the end of 2034. The rising popularity of nutmeg butter can be attributed to its diverse applications in the culinary, cosmetic, and pharmaceutical industries. Consumers are increasingly favoring natural and organic ingredients, which bolsters the demand for nutmeg butter. North America, in particular, is anticipated to be a major player in this market, accounting for 27.2% of the global share by 2034. The region's strong consumer base and growing interest in health and wellness products are driving this demand.

Conventional nutmeg butter remains a significant segment of the market, with sales forecasted to rise at a CAGR of 5.4%, reaching USD 39 million by 2034. This growth is indicative of the enduring preference for traditional production methods and cost-effective options among consumers. Meanwhile, South Korea stands out as a rapidly growing market, with demand for nutmeg butter expected to increase at a robust CAGR of 7.5% from 2024 to 2034. The surge in demand within South Korea can be linked to the expanding culinary sector and a heightened awareness of the benefits of natural ingredients. As the global market for nutmeg butter continues to evolve, these regional dynamics and consumer preferences will play a crucial role in shaping its trajectory.

“Noteworthy growth of food & beverage industry, growing popularity of ethnic cuisines, and increasing health and wellness trends are contributing to rising adoption of nutmeg butter in several dishes,” says a Fact.MR analyst.

Easy Availability and Accessibility of Conventional Nutmeg Butter

Conventional nutmeg butter is set to hold a 62.86% share of the global market by the end of 2034. Globalization of the food market is projected to ensure the easy availability of conventional nutmeg butter irrespective of geographical location. This easy availability is expected to allow more individuals to purchase nutmeg butter according to their culinary requirements.

Competitive Landscape

Leading manufacturers of nutmeg butter are aligning their products with current market trends and adhering to established standards for processing and manufacturing. They are actively engaged in product development, ensuring high-quality offerings, and efficiently managing supply chain systems.

Organic Pure Oil, Rutvik Enterprises, Nature Pure Extracts Inc., Proderna Biotech Pvt. Ltd., New Directions Aromatics Inc., Vedic Supercriticals & Biotechnologies Pvt. Ltd., Delaenzie Essentials Oils, Botanic Universe Corp., Savonneries Ameritienne, and Cocojojo are some of the leading manufacturers of nutmeg butter operating across the world.

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