Plant-Based Butter Market Strategies 2024-2033: Opportunities, Growth Analysis, and Overview

The plant-based butter market size has grown strongly in recent years. It will grow from $2.58 billion in 2023 to $2.76 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to health and wellness trends, environmental and ethical concerns, shift in dietary preferences, marketing and product positioning, availability and accessibility, nvestment and innovation in ingredients..

The plant-based butter market size is expected to see strong growth in the next few years. It will grow to $3.68 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to rising health consciousness, environmental sustainability concerns, expansion of vegan and flexitarian diets, retail expansion and market accessibility, investment in marketing and branding, government initiatives and support.. Major trends in the forecast period include collaborations and partnerships, focus on sustainability and eco-friendly packaging, celebrity endorsements and influencer marketing, retail expansion and accessibility, diverse product offerings..

Market Overview -
Plant-based butter, also known as vegan butter, is a dairy-free butter substitute made by combining water with plant-derived oil, such as olive, avocado, coconut, palm kernel oil, or a combination of oils. Plant-based butter can be a convenient vegan substitute for toast and in cooking. They can also be a good butter substitute for those who are lactose intolerant or allergic to dairy.

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Rising Health And Wellness Awareness Ignites Growth In The Plant-Based Butter Market
The increasing awareness of health and wellness is expected to propel the growth of the plant-based butter market. Plant-based butter is good for weight loss and provides building blocks for healthy muscles and tissues. They are high in fiber and contain less amount of calories & fats than regular dairy butter. For instance, according to the 2021 India Times poll, the COVID-19 pandemic has transformed Indians' attitudes toward health and wellness, with 70% saying they will prioritize food and lifestyle adjustments in 2021 to manage both physical and emotional health. Therefore, the increasing awareness of health and wellness drives the growth of the plant-based butter market going forward.

Competitive Landscape -
Major companies operating in the plant-based butter market report are Conagra Brands Inc., Upfield Holdings B.V., Pure Blends, Nutiva Inc., Jem Organics, Yumbutter, Melt Organic, ForA Foods, Miyoko's Creamery, Prosperity Organic Food Inc., Premier Organics, Naturli Foods Ltd., Daisya Fine Food Ltd., Carley's Organic, The Forager Project, Goodmylk Ltd., Milkadamia Co., Nuts For Cheese, Axia Foods Inc., WayFare Foods, Earth Balance, Country Crock, Flora Plant Butter, Vitalite, Purely Balanced, Nutcrafter Creamery & Bakery Inc., Treeline Cheese Co. .

Elevating Bakery Delights With Superior Plant-Based Butter Blend
Major companies operating in the plant-based butter market are innovating new products, such as Beleaf PlantBetter, to sustain their position in the market. Beleaf PlantBetter is a plant-based butter designed for bakery applications. For instance, in November 2023, Bunge, a US-based agribusiness and food company launched Beleaf PlantBetter. Beleaf PlantBetter provide a superior-tasting with distinctive aroma, taste, and texture of traditional butter. Beleaf PlantBetter is a blend of primarily coconut, cocoa butter, rapeseed, and lecithins. It integrated into any production process, providing the desired level of aeration, volume, and taste in products.

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Key Segments -

The plant-based butter market covered in this report is segmented -
1) By Nature: Organic, Conventional
2) By Source: Nuts, Avocados, Coconut, Olive Oil, Canola, Palm Fruit, Other Sources
3) By Application: Food And Beverage Industry, Food Service Industry, Households

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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