Global Plant Based Butter Market Report and Forecast 2024-2032

Global Plant Based Butter Market Outlook

The global plant based butter market is expected to grow at a CAGR of 4.3% in the forecast period of 2024-2032.

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North America and Europe to be the Significant Regional Markets for Plant Based Butter

Europe and North America are among the leading consumer regions for the plant based butter industry. The rising health awareness among the consumers is driving the growth of the market in the regions. Increasing disposable incomes and the rising demand for organic products are driving the demand for the plant butter market in these regions. The intake of plant based butter is especially higher in Western European countries. Plant based butter consumption in the countries of South Asia and East Asia is also projected to increase in the coming years due to the rising health consciousness among the consumers and the rising standards of living.

Plant Based Butter: Market Segmentation

Plant based butter refers to a butter made from plant extracts including almond, soy, coconut, and vegetable oils. Butter is the most commonly used commodity for cooking by consumers and food producers. Most of the butter products are milk-based products with heavy saturated fat and cholesterol, which can promote additional fat in the human body. Plant based butter is relatively low in saturated fat and tastes like milk butter, and can be used for cooking, baking, and spreading. Plant based butter can be used in pre-mixed meals, soups, sausages, bakeries, frozen and processed foods, in the foodservice industry, the household sector, and others.

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Based on nature, the market can be divided into the following:

• Organic
• Conventional

The source of the product can be categorised as follows:

• Nuts
• Avocados
• Coconut
• Olive Oil
• Canola
• Palm Fruit
• Others

The distribution channels include the following:

• Hypermarkets/Supermarkets
• Convenience Store
• Specialty Stores
• Online
• Others

The regional markets for plant based butter can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Population of Vegans Bolstering the Market Growth of Plant Based Butter

The rising vegan population across the globe is the main driver of the plant butter industry. Growth in the plant based sector has primarily been driven by the widespread emergence of 'flexitarians' who follow a semi-vegetarian diet as consumers respond to a combination of environmental, ethical and health concerns. In addition, there is a large media coverage on the effects of dairy and meat product production on global warming. Animal rights organisations, who are conscious of how animals are handled in the making of goods, have created a change in consumer preferences. These are the factors that influence the growth of the global demand for plant based butter.

Key Industry Players in the Global Plant Based Butter Market

The report gives a detailed analysis of the following key players in the global plant based butter market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Conagra Brands, Inc.
• Upfield Europe B.V.
• Nutiva Inc.
• Prosperity Organic Foods, Inc.
• Miyoko's Kitchen, Inc.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report