Plant Based Butter Market
Global Plant Based Butter Market Size, Share & Trends Analysis Report by Source (Plant-based Milk, Almond, Coconut, Olive oil, Canola, Palm Fruit, and Others), by Application (Food and Beverage Industry, Foodservice Industry, Household), and by Distribution Channel (Online Distribution and Offline Distribution) Forecast (2022-2028) Update Available - Forecast 2024-2030
The global plant based butter market is anticipated to grow at a significant CAGR of 5.1% during the forecast period. The rising incidence of obesity across the globe coupled up with additional health benefits of plant based butter is creating opportunities for the plant based butter in the market. Consumption of conventional butter is linked to a higher risk of obesity, heart disease and other diseases, due to its high levels of saturated fat. According to Switch4Good, a health awareness non-profit organization, in 1 tbsp of butter there is 7g of saturated fat, 0.5g of trans fats, and 31 mg of cholesterol and based on a 2,000 calorie diet that is 35% of daily recommended saturated fat, 10% of daily recommended cholesterol and 100% of daily recommended trans-fat. Therefore, population prevailing with diseases such as obesity are suggested to go after fat-free diets and that is why they are keenly looking for plant-based ingredients including plant based butter. Moreover, the plant-based butter provides additional health benefits such as maintaining healthy cholesterol levels, gluten-free, lactose-free and comes with benefits of plant extracts, which is further boosting its demand in the market.
Impact of COVID-19 Pandemic on Global Plant Based Butter Market
COVID-19 pandemic highly impacted the food and beverages industry, as disorder in global supply chains and trade barriers all over the world consequently impacted the production of plant-based food products and ingredients. Moreover, due to lockdown in many countries caused disruption in retail sector and the consumers were willing to buy only necessary products. However, the reduced consumption of out-of-home food, home cooking became more popular as an option for savings and created potential revenue generation opportunities for the market during this period.
Segmental Outlook
The global plant based butter market is segmented based on the source, application, and distribution channel. Based on the source, the market is segmented into plant-based milk, almond, coconut, olive oil, canola, palm fruit and others. Based on, the application the market is sub-segmented into the food and beverage industry, foodservice industry, and household. Further, on the basis of distribution channel, the market is sub-segmented into online distribution and offline distribution. The above-mentioned segments can be customized as per the requirements.
Global Plant Based Butter Market Share by Source, 2021 (%)
The Almond Sub-Segment is Anticipated to Hold Prominent Share in the Global Plant Based Butter Market
Growing popularity of natural diets coupled up with increasing plant based product launches with almonds as a main ingredient is likely to come up as prospective drivers for the growth of the global plant based butter market. Almonds are well known to be a plant-based superfood and are increasingly gaining popularity in the production of non-dairy and organic products including plant based butter. Food products made from almonds not only deliver high nutritional benefits but also provide exceptional flavor and texture. Due to its increasing demand and exceptional benefits manufacturers have started promoting their product ranges by using almond as a main ingredient. For instance, in 2020, Kite Hill, manufacturer of dairy-free cheeses, yogurts, dips, and filled pastas announced its expansion into a new category with a plant-based butter alternative. The new product features almond milk as the #2 ingredient and other ingredients include sunflower oil (liquid oil) and coconut oil (hard fat). Some other product launches in this segment includes Axia Food’s Gren butter, launched in 2021, crafted with only three simple ingredients probiotic cultured almond butter, coconut oil and sunflower lecithin.
Regional Outlooks
The global plant based butter market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for particular region or country level as per the requirement. Among these, the North America regional market is expected to cater considerable growth over the forecast period, owing to the rising inclination of the population towards the adoption of natural products.
Global Plant Based Butter Market Growth, by Region 2022-2028
The European Region is Expected to Hold Prominent Share in the Global Plant Based Butter Market
The European region is expected to hold a prominent share in the global plant based butter market owing to growing veganism and changing eating preferences among consumers in this region. Veganism in European countries such as UK is on the rise with change in eating preferences among consumers as a major reason. According to a 2019 survey by Ipsos Mori, commissioned by The Vegan Society, in Great Britain there has been an increase in vegan population from 150,000 or 0.25% in 2014 to 600,000 vegans, or 1.16 in 2019. More people are opting for a compassionate lifestyle and more vegan offerings and as result, manufacturers are increasing their plant based offerings with product launches to serve the demand. For instance, according to Mintel Global New Products Database (GNPD), in 2018, the UK was the nation with the highest number of new vegan food products launched, overtaking Germany from its number one spot.
Market Players Outlook
The major companies serving the global plant based butter market include Califia Farms LP, Conagra Brands, Inc. (Earth Balance), Melt Organic – Prosperity Organic Foods, Inc., The Sneaky Chef Foods, LLC, Upfield Europe B.V. (Country Crock), and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in 2021, India's dairy-free food brand, WhiteCub introduced their first-ever WhiteCub vegan butter. This butter is created without a single drop of any dairy product, is completely plant-based with vitamins B12 and D. The WhiteCub Vegan butter is devoid of any inter-esterified fats, trans fats, or palm oil.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global plant based butter market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Plant Based Butter Market
• Recovery Scenario of Global Plant Based Butter Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Califia Farms LP
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Conagra Brands, Inc. (Earth Balance)
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Melt Organic – Prosperity Organic Foods, Inc.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. The Sneaky Chef Foods, LLC
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Upfield Europe B.V. (Country Crock)
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Developments
3.7. Key Strategy Analysis
3.8. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Plant Based Butter Market by Source
4.1.1. Plant-based Milk
4.1.2. Almond
4.1.3. Coconut
4.1.4. Olive oil
4.1.5. Canola
4.1.6. Palm Fruit
4.1.7. Others
4.2. Global Plant Based Butter Market by Application
4.2.1. Food and Beverage Industry
4.2.2. Foodservice Industry
4.2.3. Household
4.3. Global Plant Based Butter Market by Distribution Channel
4.3.1. Offline Distribution
4.3.2. Online Distribution
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Betterthanorganic Pvt Ltd
6.2. Bubble Superfoods
6.3. Conagra Brands, Inc. (Smart Balance)
6.4. FITSHIT Health Solutions Pvt Ltd
6.5. Forager Project
6.6. Goodmylk
6.7. JEM Organics
6.8. Jus Amazin Food and Beverages Pvt. Ltd.
6.9. Kite Hill
6.10. Land O’Lakes, Inc.
6.11. Milkadamia
6.12. Miyoko's Kitchen
6.13. Nuts For Cheese
6.14. Nutiva Inc.
6.15. Om Sweet Home
6.16. Organic Love And Light
6.17. Tribe 9 Foods (Yumbutter)
6.18. Upfield Europe B.V. (I Can’t Believe it’s not Butter)
6.19. Upfield Europe B.V. (Pure Blends)
6.20. WayFare
6.21. wildbrine
1. GLOBAL PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY SOURCE, 2021-2028 ($ MILLION)
2. GLOBAL PLANT BASED BUTTER FROM PLANT-BASED MILK MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL PLANT BASED BUTTER FROM ALMOND MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL PLANT BASED BUTTER FROM COCONUT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL PLANT BASED BUTTER FROM OLIVE OIL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL PLANT BASED BUTTER FROM CANOLA MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL PLANT BASED BUTTER FROM PALM FRUIT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL PLANT BASED BUTTER FROM OTHER SOURCE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
10. GLOBAL PLANT BASED BUTTER FOR FOOD AND BEVERAGE INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL PLANT BASED BUTTER FOR FOOD SERVICE INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL PLANT BASED BUTTER FOR HOUSEHOLD MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
14. GLOBAL PLANT BASED BUTTER BY ONLINE DISTRIBUTION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. GLOBAL PLANT BASED BUTTER BY OFFLINE DISTRIBUTION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. GLOBAL PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
17. NORTH AMERICAN PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
18. NORTH AMERICAN PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY SOURCE, 2021-2028 ($ MILLION)
19. NORTH AMERICAN PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
20. NORTH AMERICAN PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
21. EUROPEAN PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
22. EUROPEAN PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY SOURCE, 2021-2028 ($ MILLION)
23. EUROPEAN PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
24. EUROPEAN PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
25. ASIA-PACIFIC PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
26. ASIA-PACIFIC PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY SOURCE, 2021-2028 ($ MILLION)
27. ASIA-PACIFIC PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
28. ASIA-PACIFIC PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
29. REST OF THE WORLD PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
30. REST OF THE WORLD PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY SOURCE, 2021-2028 ($ MILLION)
31. REST OF THE WORLD PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
32. REST OF THE WORLD PLANT BASED BUTTER MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL PLANT BASED BUTTER MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL PLANT BASED BUTTER MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL PLANT BASED BUTTER MARKET, 2022-2028 (%)
4. GLOBAL PLANT BASED BUTTER MARKET SHARE BY SOURCE, 2021 VS 2028 (%)
5. GLOBAL PLANT BASED BUTTER FROM PLANT-BASED MILK MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL PLANT BASED BUTTER FROM ALMOND MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL PLANT BASED BUTTER FROM COCONUT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
8. GLOBAL PLANT BASED BUTTER FROM OLIVE OIL MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL PLANT BASED BUTTER FROM CANOLA MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL PLANT BASED BUTTER FROM PALM FRUIT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. GLOBAL PLANT BASED BUTTER FROM OTHER SOURCE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL PLANT BASED BUTTER MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
13. GLOBAL PLANT BASED BUTTER FOR FOOD AND BEVERAGE INDUSTRY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL PLANT BASED BUTTER FOR FOODSERVICE INDUSTRY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL PLANT BASED BUTTER FOR HOUSEHOLD MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. GLOBAL PLANT BASED BUTTER MARKET SHARE BY DISTRIBUTION CHANNEL, 2021 VS 2028 (%)
17. GLOBAL PLANT BASED BUTTER BY ONLINE DISTRIBUTION MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
18. GLOBAL PLANT BASED BUTTER BY OFFLINE DISTRIBUTION MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
19. GLOBAL PLANT BASED BUTTER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
20. US PLANT BASED BUTTER MARKET SIZE, 2021-2028 ($ MILLION)
21. CANADA PLANT BASED BUTTER MARKET SIZE, 2021-2028 ($ MILLION)
22. UK PLANT BASED BUTTER MARKET SIZE, 2021-2028 ($ MILLION)
23. FRANCE PLANT BASED BUTTER MARKET SIZE, 2021-2028 ($ MILLION)
24. GERMANY PLANT BASED BUTTER MARKET SIZE, 2021-2028 ($ MILLION)
25. ITALY PLANT BASED BUTTER MARKET SIZE, 2021-2028 ($ MILLION)
26. SPAIN PLANT BASED BUTTER MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF EUROPE PLANT BASED BUTTER MARKET SIZE, 2021-2028 ($ MILLION)
28. INDIA PLANT BASED BUTTER MARKET SIZE, 2021-2028 ($ MILLION)
29. CHINA PLANT BASED BUTTER MARKET SIZE, 2021-2028 ($ MILLION)
30. JAPAN PLANT BASED BUTTER MARKET SIZE, 2021-2028 ($ MILLION)
31. SOUTH KOREA PLANT BASED BUTTER MARKET SIZE, 2021-2028 ($ MILLION)
32. REST OF ASIA-PACIFIC PLANT BASED BUTTER MARKET SIZE, 2021-2028 ($ MILLION)
33. REST OF THE WORLD PLANT BASED BUTTER MARKET SIZE, 2021-2028 ($ MILLION)
