Plant-Based Butter Market Demand And Growth Analysis 2022-28

According to Precision Business Insights (PBI), the latest report, the global plant-based butter market size was valued at USD 2,364.7 million in 2022 which is expected to grow at a CAGR of 5.2% over 2022-2028. The primary factors that drive the market are the growing population, rising disposable income, increasing distribution network, and growing vegan population.

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Nuts to Dominate the Plant-Based Butter Market:
Based on source type, nuts hold the highest market share. Nut butter is a food paste prepared from nuts. It regularly comprises other constituents such as sweeteners, salt, and flavorings. There is a variation of nut butter that can be utilized, such as almond butter and peanut butter. The most common kind of nuts utilized to prepare this sort of product contains cashews, peanuts, and almonds. These food goods are often consumed on crackers or bread by themselves.

Europe Plant-Based Butter Market
Europe leads the global plant-based butter market growth due to the increasing need for organic products. Europe leads the global market due to rising collaborations among international key players and increasing disposable income. However, the growing number of vegan consumers and rising demand for plant-based butter have contributed to increasing the sales of plant-based butter in this region. Asia Pacific region is expected to grow significantly in the global plant-based butter market over the forecast period. The Asia Pacific region is expanding as a result of an increasing standard of living and increasing health consciousness among consumers.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global plant-based butter market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share. In November 2021, Miyoko's Creamery launched the World's first vegan butter cooking channel.

The plant-based butter market is segmented based on nature, source, distribution channel, and region.
Based on its nature:
• Organic
• Conventional

Based on the source:
• Nuts
• Avocados
• Coconut
• Olive Oil
• Canola
• Palm Fruit
• Others

Based on the distribution channel:
• Hypermarkets/Supermarkets
• Convenience Store
• Specialty Stores
• Online
• Others

Based on the region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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The key players in the global plant-based butter market report are Conagra Brands Inc., Upfield Foods, Miyoko's Creamery, Wayfare Food, Prosperity Organic Food Inc., Wildfriend Foods, Califia Farms, Premier Organics, Naturli Foods, and Ekogram-the real food.

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This release was published on openPR.