Plant-based Butter Market Projected to Reach USD 2.5 Billion by 2030, Growing at a 5.1% CAGR

Richmond, United States, 2024-Apr-04 — /EPR Network/ —

 

The Plant-based Butter Market is estimated to grow from USD 2.2 billion in 2023 to reach USD 2.5 billion by 2030, with a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2023 to 2030.

In the wake of shifting consumer preferences towards healthier and sustainable options, the plant-based butter market has emerged as a dynamic and rapidly growing sector within the food industry. This blog embarks on a journey to delve into the flourishing landscape of the plant-based butter market, uncovering its growth drivers, key players, and future outlook.

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Major players Plant-based Butter Market include: 

  • Miyoko’s Creamery
  • Earth Balance
  • Country Crock
  • Fora Foods
  • Wayfare Inc.
  • Nutiva
  • FabaButter
  • Melt Organic
  • Elmhurst 1925
  • Milkadamia
  • Forager Project
  • Goodmylk
  • JEM Organics
  • Others

Market Trends and Drivers:

  • Health Consciousness: Increasing consumer awareness regarding the health risks associated with saturated fats and cholesterol in traditional dairy butter fuels the demand for healthier plant-based alternatives, which are often lower in saturated fat and free from cholesterol.
  • Sustainability Concerns: Growing concerns about the environmental impact of animal agriculture, including greenhouse gas emissions and land use, drive consumers towards plant-based options, which have a lower carbon footprint and require less natural resources to produce.
  • Dietary Restrictions: Rising prevalence of lactose intolerance, dairy allergies, and veganism prompts consumers to seek dairy-free alternatives, propelling the demand for plant-based butter substitutes that cater to dietary restrictions and preferences.
  • Culinary Innovation: Continuous innovation in plant-based product development has led to the creation of plant-based butters with improved taste, texture, and functionality, making them increasingly appealing to both consumers and foodservice establishments.

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Major Classifications are as follows:

  • By Source
    • Oat Milk
    • Rice Milk
    • Corn Milk
    • Soy Milk
    • Almond Milk
    • Coconut Milk
    • Others
  • Nature
    • Organic
    • Conventional
  • Application
    • Food and Beverage Industry
      • Food Premixes
      • Soups and Sauces
      • Bakery
      • Prepared and Packaged Food
    • Foodservice Industry
    • Household/Retail
    • Others
  • Distribution Channel
    • B2B
    • B2C
      • Hypermarkets/Supermarkets
      • Conventional Stores
      • Specialty Stores
      • Retail Stores
      • Online Retail
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Rest of Asia Pacific
    • Middle East & Africa
      • UAE
      • Saudi Arabia
      • Israel
      • South Africa
      • Rest of Middle East & Africa

Product Varieties and Innovations: Plant-based butter products come in various forms, including:

  • Spreadable Butters: Soft and spreadable plant-based butters suitable for use on toast, crackers, and baked goods.
  • Baking Sticks: Firm and stable plant-based butter sticks designed for baking and cooking applications.
  • Flavored Butters: Infused with herbs, spices, or other natural flavors to enhance taste and versatility in culinary applications.
  • Organic and Non-GMO Options: Organic and non-GMO plant-based butter products catering to consumers seeking premium and environmentally conscious options.

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Future Outlook: The plant-based butter market is poised for significant growth, driven by increasing consumer demand for healthier, sustainable, and cruelty-free alternatives to dairy butter. As manufacturers continue to innovate and expand their product offerings, and as retailers and foodservice establishments embrace plant-based options, the market is expected to witness continued expansion and diversification in the coming years.

Conclusion: The plant-based butter market represents a paradigm shift in the food industry, reflecting changing consumer preferences towards healthier, sustainable, and cruelty-free options. With its potential to address health, environmental, and ethical concerns, plant-based butter products are reshaping the culinary landscape and offering consumers a delicious and guilt-free alternative to traditional dairy butter. As the market continues to evolve, collaboration between industry stakeholders, chefs, and nutritionists will be key in driving innovation and meeting the evolving needs of consumers worldwide.

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