The global vegan butter market is forecasted to expand at 5% CAGR over the estimated period as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 4,784.7 million in 2033
The market is being driven forward by an increase in demand for vegan butter manufactured from oats, as evidenced by the B2C sales channel. Oat-based vegan butter is in high demand because oat milk and other related products are so well-liked.
The increasing popularity of clean-label and vegan products is driving up sales of vegan butter. Businesses like Miyoko’s Creamery are attempting to obtain certification for their vegan butter products so they may be sold as “soy-free,” “gluten-free,” and “non-GMO.” The objectives of labelling are to increase plant-based butter’s overall sales and gain public acceptability.
View Our Sample Report to See How the Vegan Butter Market Will Develop in the Future:
https://www.futuremarketinsights.com/reports/sample/rep-gb-14435
Within the bakery industry, vegan butter is being perceptibly used at a large scale now. This evolution in the ingredient choice has been dictated by the surging health-wary consumers, who are seeking bakery items made of vegan butter.
Flavored vegan butter has also been gaining widespread traction, as evident with the increasing number of merchants introducing their line of flavored plant-based butter. Manufacturers require to focus on technological upgrades over the forecast period to:
- Enhance manufacturing processes
- Sales monitoring
- Packaging and design
- Product variety for business expansion
Geographically, North America is a large market for vegan butter, representing a significant proportion of global consumption. The United States leads the regional market and the global market.
Growth in Asia Pacific region can be accorded to consumer discernment regarding the health and wellness benefits of vegan goods and heightened demand for a vegan diet among the young generation. India, as per FMI’s latest statistics, is projected to expand at 6.5% from 2023 to 2033.
Top Highlights from the FMI’s Analysis of the Vegan Butter Market:
- The United States vegan butter industry garnered a 22.4% market share in 2022.
- Germany’s share in the global vegan butter industry was 6% in 2022.
- The United Kingdom is anticipated to expand from 2023 to 2033 with a CAGR of 5.5%.
- Japan’s market contributed a value share of 2.9% in 2022.
- India’s vegan butter industry is projected to register a prominent CAGR of 6.5% over the forecast period.
- China’s vegan butter industry is forecasted to expand at 3.8% CAGR over the estimated period.
- Based on source, the oat milk segment acquired a 26.9% market share in 2022.
- Based on flavor, the unflavored segment represented 63.5% of the global market in 2022.
- Under the category of sales channel, the B2C segment garnered 78.4% of the overall market in 2022.
Innovation Watch: New Developments in the Market
- In September 2019, Country Crock® made moves along with the plant-based food movement by introducing Country Crock® Plant Butter, a new dairy-free plant butter, that is similar in taste to dairy butter. The product is made of plant-based oils and enriched with oils like almonds, avocados, and olives. The product is certified by Plant Based Foods Association (PBFA) as kosher, gluten-free, and plant-based, making it appropriate for vegan diets.
- In July 2020, Flora, a margarine brand, announced that it is going 100% vegan. Following this announcement, the company introduced the Flora Plant range of 100% vegan butter. The block butter consists of palm, rapeseed, and sunflower oil. The wrapping material of this butter block is 100% biodegradable.
Join the Vegan Butter Revolution and use our in-depth report to protect your future:
https://www.futuremarketinsights.com/checkout/14435
Key Players Operating in the Market
- Wayfare Food
- Chobani LLC
- Miyoko’s Creamery
- Milkadamia
- Prosperity Organic Foods, Inc
- Conagra Brands Inc.
- Upfield Foods
- Premier Organics
- Forager Project
- wildCREAMERY (Wildbrine®)
- Others
Vegan Butter Market by Category
By Source:
- Rice Milk
- Oat Milk
- Soy Milk
- Corn Milk
- Almond Milk
- Pea Milk
- Cashew Milk
- Coconut Milk
- Hemp Milk
- Flax Milk
- Others
By Flavor:
- Unflavored
- Flavored
- Cocoa/ Chocolate
- Cinnamon
- Banana
- Coconut
- Grape
- Hazelnut
- Lemon
- Peanut Butter
- Raspberry
- Strawberry
- Vanilla
- Other Flavors
By Sales Channel:
- B2B
- Hotels
- Restaurants
- Cafes
- B2C
- Hypermarkets /Supermarkets
- Convenience Stores
- Mom and Pop Stores
- Discount Stores
- Food & Drink Specialty Stores
- Independent Small Groceries
- Online Retail
- Others Retail Formats
By Application:
- Bakery Industry
- Confectionery Items
- Dairy Industry
- Dietary Supplements
- Household Pantry
- Hotel, Restaurant, and Retail Chains
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
Tailor Your Insights: Get Your Customized Market Report Now Explore Application and Region-specific Analysis for In-Depth Understanding :
https://www.futuremarketinsights.com/customization-available/rep-gb-14435
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
