Plant-Based Butter Market Scope & Overview
The market size of plant-based butter was valued at USD 2.73 billion in 2022. It is projected to reach USD 4.01 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2023 to 2030.
Plant-Based Butter Market has witnessed significant growth in recent years, driven by the increasing adoption of plant-based diets and the rising awareness of the environmental impact of animal agriculture. As consumers become more health-conscious and environmentally aware, they are seeking alternatives to traditional dairy butter.
The market's steady growth can be attributed to several factors. Firstly, the growing number of individuals opting for vegan or vegetarian lifestyles has fueled the demand for plant-based alternatives. Additionally, the rising prevalence of lactose intolerance and dairy allergies has further boosted the market for plant-based butter.
Furthermore, the advancements in food technology have led to the development of plant-based butter products that closely mimic the taste and texture of traditional dairy butter. This has significantly contributed to the acceptance and popularity of plant-based butter among consumers.
Geographically, North America currently dominates the plant-based butter market, owing to the high adoption rate of plant-based diets and the presence of key market players in the region. However, the Asia Pacific region is expected to witness substantial growth during the forecast period, driven by the increasing population, rising disposable income, and changing dietary preferences.
In conclusion, the plant-based butter market is poised for significant growth in the coming years. With the increasing demand for sustainable and healthier alternatives, coupled with advancements in food technology, the market is expected to expand at a steady pace.
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Major Key Players Included are:
Miyoko’s Creamery, WayFare, I Can’t Believe It’s Not Butter, Conagra Brands Inc., Naturli Foods, Goodmylk, Califia Farms LLC, Upfield , NOW Foods, Live Yum, VeganFirst, Nuflower Foods, Jojoba Desert , Alpro, Beyond Meat, and Earth’s Own Food Company Inc.
Market Segmentation & Sub-segmentation included are:
By Nature:
l Organic
l Conventional
By Application:
l Food and Beverage Industry
Ø Food Premixes
Ø Soups and Sauces
Ø Bakery
Ø Prepared
Ø Packaged Food
l Foodservice Industry
l Household
l Retail
By Source:
l Plant-based Milk
l Almond
l Coconut
l Olive oil
l Canola
l Palm Fruit
l Vegetable Oil
l Others
By Distribution Channel:
l B2B
Ø Hotels
Ø Restaurants
Ø Cafes
l B2C
Ø Hypermarket/Supermarket
Ø Convenience Stores
Ø Specialty Stores
Ø Mom
Ø Pop Stores
Ø Discount Stores
Ø Food & Drink Specialty Stores
Ø Independent Small Groceries
Ø Online Retail
Ø Others
Table of Contents
1.Introduction
2.Research Methodology
3.Market Dynamics
4.Impact Analysis
4.1.COVID-19 Impact Analysis
4.2.Impact of Ukraine- Russia war
4.3.Impact of Ongoing Recession on Major Economies
5.Value Chain Analysis
6.Porter’s 5 Forces Model
7.PEST Analysis
8.Global Plant Based Butter market segmentation, by Nature
9.Global Plant Based Butter segmentation, by Distribution Channel
10.Global Plant Based Butter market segmentation by Application
11.Global Plant Based Butter market, by region/ country
12.Company profiles
13.Competitive Landscape
14.Conclusion
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