Global Vegan Butter Market Is Expected to Grow from USD 1.23 Billion in 2018 To USD 1.77 Billion by 2026, At A CAGR of 4.65% During The Forecast Period 2019-2026

September 03, 2021, New York, USA - Plant-based butter is the type of butter that is extracted from plants such as almonds, soy, coconut oils, and vegetable oils. It is also sometimes referred to as vegan butter and made from combining water. The extraction is from a plant-derived oil normally kernel oil is or a combination of different oils.

The nutrient level of these plant-based oils varies as it depends on which oil it is extracted. Plant-based oils are normally high in cholesterol and fat levels. However, since these oils are free from animal-based products they are healthy too and also have several benefits.

High level of mono-saturated fats-

Monosaturated fats are unsaturated fats and they are beneficial for health, keeping in check the blood sugar levels and for controlling the body weight.

It is low in saturated fat-

It is low in the saturated level of fat and helps to treat chronic conditions such as liver and strokes.

It is good for the environment-

Plant-based butter is good for the environment as it reduces green gas emissions and the excessive consumption of land use.

It is a convenient substitution for the normal cooking oil or those who want cooking oil.

The Global Plant-based butter Market forecast-

Europe and North America are the leading consumers of the plant-based butter market. The consumers in this region are highly health-conscious and focus on their eating habits. Hence the importance of the plant-based butter market.

It also needs to be observed that the consumption of the plant-based butter market is expected to grow in South Asia and East Asian countries. However, the consumption of plant-based butter is expected to be high in Western countries due to the result of health-conscious people in this region.

The Covid 19 effect on the plant-based butter market-

The pandemic of Covid 19 severely affected the production of various goods and services. The agriculture, food, and beverages industry was no exception. The production was lowered to some extent and was affected heavily due to the lockdowns and subsequent job cuts.

This was also due to the reason as some consumers preferred to buy only the common goods as opposed to the different goods. Hence to some extent, it has lowered the production of plant-based butter goods.

In the United States, almost 50% of the households incurred a loss of income due to the pandemic. According to the research by the European Commission, there was nearly a loss of 700 euros in the year 2020. However, a home cooking-based option is becoming the new norm and will be a popular option in the years to come. This is expected to generate potential revenue for the plant-based butter market in the years to come.

The geographical distribution of the Plant-based butter market-

North America holds the highest share and is projected to account for more than 35% of the share in the forecast period till the year 2030. The United States holds the lead valuation in this market and it is approximate $US 200 million. The plant-based butter market is expected to grow at a rate of 5% during the forecast period of 2020-2026. Normally the plant-based butter market is classified into organic and conventional.

The market product-wise is fragmented into the different options such as –

Nuts

Coconuts

Avocados

Canola

Palm Fruit

Others

Another notable fact to observe is that more than 10% of Americans are lactose intolerant and so there will be a subsequent increase in the plant-based butter market in America. France is also a very booming market in the plant-based butter market. They are also mostly consumed in Belgium and France and contribute to about 40% of the share of the plant-based butter market in the UK.

In India and China, about 90% of Asians are lactose intolerant and this is a significant amount for increasing the production of the plant-based butter market. Also in India, around 30% of the population is either vegan or non-vegetarian and so there is going to be a subsequent demand for the plant butter market.

The top companies in the Global Plant-based butter market are-

Conagra Brands

UN field Europe

Prosperity Organic Foods

Miyoko’s Kitchen

With the higher levels of the health-conscious population rising among the Indian population there will be increasing production of plant-based butter production.

There have been very prominent distribution channels in the Plant-based butter market and this is normally centered on the B2B and B2C market. The B2C distribution can be said to center around hypermarket and supermarket stores, convenience stores, discount stores, and online retail stores.

The competitive landscape of this industry is fragmented in nature with many of the small players operating in the industry. There has also been an influx of large and medium players in the market.