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Vegan Butter Market Research Report – Forecast till 2030

Vegan Butter Market Research Report: Information by Type (Vegetable Butter, Nut Butter) Packaging Type (Tubs/Cups, Jars/Bottles) Distribution Channel (Store-Based, Non-Store-Based) Region (North America, Europe, Asia-Pacific, RoW) – Forecast 2030

ID: MRFR/F-B & N/5884-HCR | December 2022 | Region: Global | 90 Pages         

Vegan Butter Market

Vegan Butter Market Size is anticipated to reach USD 3.35 Billion by 2030, registering a CAGR of 4.83% during 2022-2030.

Segmentation

By Type Vegetable Butter Nut Butter
By Packaging Type Tubs/Cups Jars/Bottles
By Distribution Channel Store-Based Non-Store-Based
By Region North America Europe Asia-Pacific RoW

Key Players

  • Vegusto
  • Miyoko's Kitchen
  • Follow Your Heart
  • Earth Balance Foods

Drivers

  • The vegan movement is growing in popularity
  • Consumers are starting to know more about the benefits of this kind of butter
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Vegan Butter Market Overview


The Vegan Butter Market is expected to grow 3.35 billion at a CAGR of 4.83% during the forecast 2020-2030. Vegan butter is a type of butter that doesn't use animal products for its production. It is an alternative to animal-based butter that is more common in the market. In recent years, more and more people are turning vegetarian or vegan due to their concern for animal welfare, as well as other environmental causes. Vegan products like butter are becoming increasingly popular among vegan consumers. The Vegan Butter market has seen tremendous growth in the last decade with an increase in veganism.


Vegan butter has been around since the early 1900s and is still popular today. It can be used in cooking or baking, and it can also be eaten on toast, sandwiches, and more. Since vegan butter contains no animal products, it has a neutral taste which means you can use it in dishes with many different ingredients. The texture of vegan butter can vary depending on what plant oils are being used to make it.


COVID-19 Analysis


The vegan butter market has been growing exponentially over the last few years, with almost no signs of slowing down any time soon. With increasing awareness about the health benefits of vegan butter, more consumers are choosing these products over animal-based butter-like margarine and shortening. There is also a rise in people opting for plant-based products due to ethical reasons or because they feel that animal-based ingredients may be controversial to their dietary choices.


Due to the COVID-19 pandemic, consumers are shifting to a healthy lifestyle. Thus veganism has become a new trend. As veganism becomes more popular, so does the vegan butter market. With the increasing demand for this product, manufacturers have to keep up with their production levels and come up with new and innovative ways to produce more vegan butter than before.


Market Dynamics


Drivers: The vegan butter market is currently considered to be a high-growth sector. This is because the vegan movement is growing in popularity, and consumers are starting to know more about the benefits of this kind of butter. There are several different drivers that are influencing this growth.


A big contributor to the performance of the market is a shift in consumer preferences. Consumers demand more natural products and brands that they can trust, which leads them towards vegan butter options. A shift in production has also been one of the key drivers of this trend, as plant-based dairy alternatives have become more mainstream, not just among vegans but also general consumers who want healthier options.


Restraints: Vegan Butter is a hot topic in the market and has been for years because of its health benefits, taste, and sustainability. With so many people opting for vegan products, there's been an indie boom in vegan butter brands that have popped up all over the country.


However, due to its niche nature, it can be difficult for vegan butter brands to get their products out into the hands of mainstream consumers who might not have heard of them yet. Because of this difficulty, they often find themselves with excess inventory while they wait until demand increases.


Challenges: The vegan butter market is growing, and veganism is becoming a mainstream lifestyle. However, this market has its own set of challenges.



  • Vegan butter is more expensive than the traditional types of butter.

  • Most vegan butter is produced in small batches, and the production process takes time and effort.

  • The plant-based butter industry has a limited shelf life which makes it difficult to manage inventory and supply chains.

  • There are a limited number of retailers that carry vegan butter, which increases the chance for mislabeling or labeling errors by retailers.


Opportunities:  Vegan Butter is a major source of healthy nutrition. Its price has been going up in recent years due to the increasing demand. As a result, there are many opportunities for vegan butter market players in the future, such as international marketing and branding, supply chain management, and more. Vegan butter is a great opportunity for both businesses and consumers. With the increasing number of vegan products coming into the market, there is a rise in demand for vegan butter. Here are some of the benefits of buying vegan butter:



  • Vegan butter can be used on any type of food as it contains no preservatives or additives.

  • It can be used in all types of cooking, baking, and roasting applications.

  • Vegan butter is natural and free from any traces of animal products.

  • It is made from a combination of oils like coconut oil, sweet cream, vegetable oils.

  • The future potentials of the vegan butter market are quite promising, with increasing numbers converting to plant-based diets.


Value Chain Analysis


The vegan butter market has several players who offer different brands that serve different needs. There is a wide range of vegan butter options with varying price points and ingredients such as coconut oil, nut or seed oils, or non-dairy creamers. There are also several categories that are still unknown to the market, like plant-based spreads like soldi or tahini.


Segment Overview


Product: Vegan butter is made by churning together pureed fruits, vegetables, and herbs in oil to create a more complex flavor profile. It's also more natural than other options because it uses real food instead of artificial ingredients like modified vegetable oils or hydrogenated fats. There have been many studies conducted on vegan butter to show that it's healthier than dairy products and has many benefits for anyone who chooses.


Application: Vegan butter is a type of butter that is made from vegan sources. It is dairy-free, and it doesn't have any animal byproducts in it. It is widely used in vegan cooking and baking. This vegan butter can be made at home by melting plant-based fats or oils such as coconut, avocado, or macadamia nut oil.


Vegan butter is made with plant-based oils when compared to most regular butter, which is traditionally made from dairy cream and/or animal fats. Vegan butter can be used for baking, frying, sautéing, etc. One of the most popular types of vegan Butter is Earth Balance Buttery Spreadable Buttery Spread which can be found in many grocery stores and online retailers like Amazon and other websites.


Regional Analysis


Vegan butter is used in many different ways for a variety of purposes. In coffee and tea, people use vegan butter to make lattes or iced coffees. It is typically used in cakes to add a buttery flavor. The vegan butter market has been growing rapidly over the years, mostly due to the foodie trend. According to Euromonitor International, 58% of American households are buying vegan products on a regular basis. And it's not just Americans who are turning towards veganism- this trend is also prevalent in other parts of the world, such as France and Italy.


Competitive Landscape:


The vegan Butter market is a growing concern for the food industry as it is becoming more popular. With a projected growth of vegan butter sales to $3.35 billion by 2030, the competition will become fierce over time.


Recently, there has been an increase in vegan butter Market production, and consumers are not only opting for vegan-friendly products but also more and more of them are switching from traditional dairy butter to vegan alternatives. The industry is still trying to figure out how to tackle the vegan alternative trend and make sure that they're on top of it before it becomes too much of a challenge for them.


Some key players in the vegan butter market include:




Recent Developments



  • Over the past few years, the vegan butter market has seen a significant shift in its market value. This is attributed to many factors, including changing dietary lifestyles, vegan-friendly products, and rising demand.

  • This shift has led to many opportunities for companies that are focusing on new ways of vegan butter production. This change has also opened up new opportunities for farmers all over the world as they get more interest in their products.

  • The dairy industry is still struggling with the shift of consumer preferences towards veganism. The dairy industry's efforts are focused on getting consumers back to their products by improving and innovating their product portfolio and marketing strategies.


 


Report Overview


This is a market research report on the Vegan Butter Market. It provides an in-


depth analysis of the global market size along with insights into various segments within it.



  • Historical Period: 2020

  • Base Year: 2021

  • Forecast Period: 2022-2030


Segmentation


By Type



By Application



  • Hypermarkets and Supermarkets

  • Convenience Stores

  • Others



Report Scope:

Report Attribute/Metric Details
  Market Size    USD 3.35 Billion
  CAGR   4.83% (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units    Value (USD Billion)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, By Packaging Type, By Distribution Channel, and By Region
  Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Vegusto, Miyoko's Kitchen, Follow Your Heart, Earth Balance Foods
  Key Market Opportunities   The vegan movement is growing in popularity
  Key Market Drivers   Consumers are starting to know more about the benefits of this kind of butter


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Frequently Asked Questions (FAQ) :

Vegan Butter Market is expected to expand at 4.83% CAGR from 2022 to 2030.

Vegan Butter Market size can reach USD 3.35 Billion by 2030.

Vegusto, Miyoko's Kitchen, Follow Your Heart, Earth Balance Foods

There are two types of vegan butter. One is vegetable butter, and another one is nut butter.

Vegan butter is a vegan substitute for regular butter for cooking. It has many benefits that include improving the health of your family and the planet, as well as cutting down on dairy costs. Butter is such a versatile thing