Global Plant-Based Butter Market Set to Reach $3.33 Billion by 2027, Fueled by Growing Demand for Vegan and Dairy-Free Alternatives
DUBLIN, July 20, 2023
DUBLIN, July 20, 2023 /PRNewswire/ -- The "Plant-Based Butter Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This comprehensive report provides critical information for strategists, marketers, and senior management to assess the plant-based butter market. The market is projected to grow from $2.42 billion in 2022 to $2.58 billion in 2023, with a compound annual growth rate (CAGR) of 6.25%. Furthermore, the market is expected to reach $3.33 billion by 2027, exhibiting a CAGR of 6.66%.
Major players in the plant-based butter market include Conagra Brands, Inc., Upfield Holdings B.V, Pure Blends, Nutiva Inc., Jem Organics, Yumbutter, Ellyndale, Melt Organic, ForA Foods, Miyoko's Creamery, Prosperity Organic Food Inc., Premier Organics, Naturli Foods, Daisya Fine Food, and Carley's Organic.
Reasons to Purchase:
- Gain a comprehensive global perspective with detailed coverage of 50+ geographies.
- Understand the market's response to COVID-19 and its impact as the virus abates.
- Assess the direct and indirect effects of the Russia-Ukraine war on agriculture, energy, mineral commodity supply, and the market.
- Measure the influence of high global inflation on market growth.
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- Outperform competitors using forecast data and insights into market drivers and trends.
- Understand customer dynamics based on the latest market shares.
- Benchmark performance against key competitors.
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Plant-based butter, also known as vegan butter, is a dairy-free substitute made by blending plant-derived oils, such as olive, avocado, coconut, palm kernel oil, or a combination of oils, with water. It serves as a convenient alternative for toast and cooking, particularly for individuals following vegan or dairy-free diets due to lactose intolerance or allergies.
The main types of plant-based butter are organic and conventional. Organic butter is made from organic creams and is spreadable foodstuff. While it contains the same amount of saturated fat as regular butter, it is free from hormones and antibiotics and has 80% less sugar. Sources of plant-based butter include nuts, avocados, coconut, olive oil, canola, palm fruit, and others. The applications of plant-based butter span the food and beverage industry, food service industry, and households.
New product launches have emerged as a key trend in the plant-based butter market, with major companies in the food and dairy sector focusing on innovative product development to enhance their market position.
In June 2022, AAK Foodservice acquired ForA, a US-based plant-based butter company, to expand its plant-based product line. This strategic acquisition complements AAK's growth strategy and strengthens its position in the premium plant butter market segment.
North America accounted for the largest share of the plant-based butter market in 2022, while the Asia-Pacific region is expected to witness significant growth. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Key countries analyzed in the report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The increasing awareness of health and wellness is expected to drive the growth of the plant-based butter market. Plant-based butter offers benefits such as weight loss support and provides essential building blocks for healthy muscles and tissues. It is high in fiber and contains fewer calories and fats compared to regular dairy butter.
The plant-based butter market includes sales of plant-based butter and its sources, such as oat milk, rice milk, corn milk, soy milk, pea milk, almond milk, coconut milk, cashew milk, flax milk, and hemp milk. The market value reflects revenues generated from the sale of goods and services within the specified market and geography. It encompasses sales made by manufacturers or creators of goods to other entities or directly to end customers. The value of goods includes related services provided by the creators of the goods.
Key Topics Covered:
1. Executive Summary
2. Plant-Based Butter Market Characteristics
3. Plant-Based Butter Market Trends And Strategies
4. Plant-Based Butter Market - Macro Economic Scenario
4.1. COVID-19 Impact On Plant-Based Butter Market
4.2. Ukraine-Russia War Impact On Plant-Based Butter Market
4.3. Impact Of High Inflation On Plant-Based Butter Market
5. Plant-Based Butter Market Size And Growth
5.1. Global Plant-Based Butter Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Plant-Based Butter Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Plant-Based Butter Market Segmentation
6.1. Global Plant-Based Butter Market, Segmentation By Nature, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.2. Global Plant-Based Butter Market, Segmentation By Source, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Olive Oil
- Palm Fruit
- Other Sources
6.3. Global Plant-Based Butter Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Food And Beverage Industry
- Food Service Industry
7. Plant-Based Butter Market Regional And Country Analysis
7.1. Global Plant-Based Butter Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Plant-Based Butter Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/nn2cko
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