Steady increase in consumer awareness levels about ethics of producing animal-based foods & beverages, and the impact of animal husbandry on the environment are key factors that are driving demand for plant-based butter.
Further, the surging vegan and vegetarian global population, and the culinary importance of butter is creating a surge in shelf space and retail sales in the market. The wide range of plant-based dairy sources and the associated flavor profiles, positively influence growth of the market, appealing to a wider consumer demographic.
According to a new report from ESOMAR-certified market research and consulting firm Future Market Insights (FMI), the global plant-based butter market surpassed USD 2.4 Billion in 2020. The market study has tracked demand in more than 20 countries, with a comprehensive section on the effects of the covid-19 pandemic on the industry.
In the recent past between 2015 and 2019, the plant-based butter market has grown steadily. According to FMI report, during this period dairy volumes slumped by around 300 million gallons.
On the other hand, the consumption of plant-based alternatives went up by around 50 million gallons. This trend has continued post 2019 and is likely to rise through 2030.
While the covid-19 outbreak is expected to slow down growth, the market will witness steady growth post 2021 to reach an estimated USD 5.1 Billion valuation by the end of 2030. North America, led by the United States will have a major role to play in future growth.
According to the Good Food Institute, dollar sales of plant-based foods have increased by 29% in the past 2 years, creating a favorable environment for plant-based butter sales.
While plant-based butter products are largely aimed towards vegans and vegetarians, flexitarians are rapidly emerging as a major consumer group.
According to the Food Industry Association, around a third of all households hold at least one vegan, vegetarian, flexitarian, or pescatarian. However, only 5% of households adhere strictly to animal-free diets.
The Food Industry Association report states that more than 10% of all Gen Z, Gen X, and millennial consumers adhere to a flexitarian diet. On the other hand, only around 5% of older boomer demographics are flexitarians.
Consequently, with the increased interest in plant-based food products, plant-based alternatives have risen by more than 19% between 2018 and 2019. This trend is projected to aid growth in the market through the forecast period.
As per Virginia-based FMI Foundation, a non-profit organization on nutrition, health, and food, 40% of the American population has increased cooking activities following the covid-19 pandemic. Restrictions on the food service sector has made home cooking a viable option, creating opportunities for plant-based butter sales.
According to the United States Census Bureau, nearly 50% of households have reported a loss income during the pandemic. As per the European Commission disposable income levels have dropped by over 700 euros in 2020.
Consequently, home cooking is becoming more popular as an option for savings. This will create potential revenue generation opportunities during this period.
Consumption of conventional butter has widely been associated with obesity, heart disease and other ailments. As per a report by Switch4Good, a health awareness non-profit organization, a tablespoon of butter accounts for more than 30% of the daily recommended saturated fat in a 2000 calorie diet.
Also, a 2018 study by the United States Department of Health and Human Services has stated that high fat diets can also result in alternation of red blood cells, and immunity cells aside from heart disease. This will create opportunities for clean label, organic plant-based butter alternatives, which are characterized by lower fat levels.
The global market for plant-based butter is steadily becoming mainstream, as supply chains are more resilient in comparison to that of industrial animal agriculture. However, participants in the industry are likely to face challenges that affect the potential for growth through the forecast period.
For instance, the costs of producing conventional plant-based butter and the resultant pricing is expected to be higher than that of conventional butter alternatives. This will limit adoption rates for the foreseeable future.
Also, the plant-based butter industry is largely reliant on the yields of vegetable and nuts. The fluctuation of yields and prices of these raw materials owing to environmental factors is also a challenge to market players in the industry.
North America is a major market for plant-based butter products and is projected to account for more than 35% of the global market share by the end of the forecast period in 2030. The United States holds the lead with a valuation of approximately USD 200 million.
According to a report by the Good Food Institute, the sales of plant-based butter in the United States has jumped by 15% between 2017 and 2019. The report also states that sales of plant -based products have surpassed animal based alternatives in meat and dairy sectors following the advent of the covid-19 pandemic.
A study by Cornell University has also found that more than 10% of the overall American population is lactose intolerant. This factor will also support the adoption of plant-based butter in North America through the forecast period.
According to the Vegan Society, the number of vegans has gone up four times between 2014 and 2019. Also, in 2018 UK launched the highest number of vegan products in comparison to any other nation. Also, the UK's sales and consumption of vegan butter, milk, margarine, cheese, and ready meals have become the highest in Europe.
The Vegan Society has also stated that the UK plant-based milk sector was worth more than 320 million in 2019, accounting for more than 15% of the overall European market share. This figure is projected to more than double with a CAGR of close to 14% through 2025.
This is likely to create a highly favorable environment for the expansion of plant-based butter producers in the country.
According to FarmingUK, dairy farmers in the U.K. were hit by a 50 percent slump in profits from milk sales between 2018 to 2019, with a quarter of Brits now opting for plant-based dairy products, including butter. However, the covid-19 pandemic has created challenges for manufacturers.
As per the Journal of Food Science and Technology, dairy-free products reflected a growth rate of less than 1% between late 2019 and early 2020.
As per the Association Végétarienne de France, plant-based dairy products are most commonly consumed in the UK and Belgium, with France being among the lowest at around 40%, attributed to general consumer preference for conventional milk-based options.
However, France has been facing a crisis in terms of conventional butter stocks. 30% of demand for butter in French supermarkets was not met in October 2020. Also, butter prices have tripled between 2016 and 2020 reaching a valuation of 7,000 euros per ton. According to the FNPL milk-producers federation, the issue can be largely attributed to a price war occurring among French retailers.
This is a key factor that is likely to generate opportunities for growth in the plant-based butter sector in the near term. According to Mercy for Animals, a 17% annual growth of plant-based products is expected between 2019 and 2021 in France, creating a favorable atmosphere for the industry.
As per a USDA report, 15 percent of all new vegan food and beverage product launches for 2017-18 took place in Germany. As per Proveg International the country is home to around 1.3 million vegans, and approximately 8 million vegetarians.
The USDA report has also stated that around 70 % of German households would like to see a larger variety of vegetarian products in supermarkets, with close to two-thirds purchasing vegan and vegetarian products intentionally.
Further, the projected growth of dairy alternatives product sales between 2019-2024 is expected to be more than 7% CAGR, and plant-based milk accounted for 15 percent of the overall milk sales in 2018. According to a study by Veganz, 30% of Germany’s population is flexitarian. These factors are likely to generate favorable conditions for long-term growth of the plant-based butter industry in Germany.
As per a report by the Irish Food Board, lactose-free products are gaining ground in Spain with close to 35% of the country’s population suffering from lactose intolerance, which is among the highest numbers in European countries.
Further, a report from the USDA has stated that retail sales of free-from products in Spain reached a value of USD 1.2 billion in 2018, which was a 12% increase over the previous year. Also, the free-from dairy retail value sales went up by 17% in 2018. The Green Revolution has stated that food stores and restaurants catering to vegans and vegetarians has doubled between 2016 and 2019.
According to WhiteWave Foods, Spain has emerged as a key market for non-dairy alternatives, with soy-milk being the primary source, while almond and oats reflecting stronger growth. Also, 2% of the country’s population is vegan or vegetarian, while flexitarians account for 8%. This bodes well for the future of the country’s plant-based butter industry.
According to the Vegan Society, close to 50% of all Italian consumers have stated an interest in lowering meat intakes, with close a quarter pushing to increase consumption of vegetarian processed foods in daily diets. Also, Vegan Society has also indicated that Italy has the fastest growing population of animal-free consumers.
A report by the European Data Journalism Network, the population of Italian vegans, albeit small at 3%, nearly doubled between 2016 and 2018. Also, a report by the National Library of Medicine Northern and Southern Italy populations reflect 52% and 41% lactose malabsorption cases, while central Italy accounts for only 19%.
These trends are likely to have significant influence on the prospects of plant-based butter purchases in the country.
According to the Good Food Institute, the growth of plant-based product sales has surpassed that of animal-based products in China in terms of dairy and meat products.
As per Health Ingredients China, Asian consumers, of which the Chinese comprise a large percentage, are prioritizing healthy food choices, with approximately 90% of Asians being lactose intolerant.
Also, the adoption of vegan labeling on food packaging has increased by more than 400% between 2016 and 2018. Health Ingredients China has also stated that between 2015 and 2017, the sales of plant-based milk rose in the country by 17%. According to the Xinhua News Agency, the Chinese vegan population has surpassed 50 million individuals.
Also, the Chinese government has set up standards for plant-based dairy including the GB/T 10789-2015 General Standard for Beverages which provides details on the different standards used in different plant milks: GB/T 31325-2014 for walnut milk, QB/T 2439 for peanut milk, and GB/T 30885-2014 among others.
These factors are likely to aid China as a high potential market for plant-based market in the near future.
According to the Census data from the government of India, around 30% of the country’s population is either vegan or vegetarian. On the other hand, a substantial percentage of this demographic is lacto-vegetarian, with the consumption of milk products. These trends are likely to influence the sales of plant-based butter products.
Some of the prominent brands in India offering plant-based butters include Dakini Health Foods, i2Cook, and JUS’ AMAZIN Seed who have launched sesame, sunflower, peanut, cashew, and almond-based butter offerings.
While higher levels of health awareness among the Indian population will prove beneficial, the higher costs of vegan products in the country are likely to hold back growth of the plan based butter industry in the near term.
Plant-based butter can be sourced from oat milk, rice milk, corn milk, soy milk, pea milk, almond milk, coconut milk, cashew milk, flax milk, and hemp milk. Of these soy milk will account for major market share, holding more than 40% of the overall market share in 2020.
Easy access to soy raw materials and significant cultivation efforts around the world result in low costs and prices, which is a key factor likely to drive demand throughout the assessment period. Almond milk is also witnessing strong growth, supported by a favorable flavor profile and higher consumer preference.
Prominent distribution channels for the market are B2B and B2C. B2B distribution can be further segmented into hotels, restaurants, and cafes.
B2C distribution can be divided into hypermarket/supermarket, convenience stores, mom and pop stores, discount stores, food & drink specialty stores, independent small groceries, and online retail. Online retail is expected to be a fast-growing segment with a significant market share.
Online retail has been gaining ground in the food and beverage industry, with advantages in terms of consumer engagement, with minimal costs. Sales through online channels are especially expected to rise in 2020 owing to lockdown restrictions arising from the covid-19 pandemic.
The global plant-based butter industry is competitive and fragmented in nature, with the numerous small scale players operating in the industry. Top players are increasingly investing in product launch and geographical expansion strategies to consolidate their position in the market.
In December 2020, Nestle announced the launch of Harvest Gourmet range of vegan foods including butter among others for consumers in China. The products will be manufactured at a new facility in the Tianjin province.
Kite Hill Launched its Plant-based Butter Alternative in the summer of 2020, which is produced with almond milk, and oils from sunflower, olives, and coconut, for consumers in the United States.
Further, ForA has launched a plant-based butter, with key ingredients of the original recipe being coconut oil, coconut cream, sunflower oil, aquafaba, and cocoa butter. The product is largely aimed towards bakery applications.
Future Market Insights has also studied the following plant-based butter manufacturers in its detailed study*:
| Attribute | Details |
|---|---|
| Forecast Period | 2020 to 2030 |
| Historical Data Available for | 2015 to 2019 |
| Market Analysis | USD Million for Value, Million Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Middle East & Africa; and Asia Pacific |
| Key Countries Covered | USA, Canada, Mexico, Greater China, Japan, India, South Korea, Australia, and New Zealand |
| Key Segments Covered | Source, Distribution Channel, and Region |
| Key Companies Profiled | Conagra Brands Inc.; Upfield Foods; Miyoko’s Creamery; Wayfare Food; Prosperity Organic Food Inc.; Lyrical Foods Inc.; Califia Farms; Premier Organics; Naturli Foods; Ekogram-the real food; Wildfriend Foods; The J.M. Smuker Co.; The Leaviet Corp.; Milkadamia; Chobani LLC; Carley’s Organic; Pintola; Alpino Health Foods; Vegan Way; Dhatu Organics; Kitchen Garden; Naturally Organic; Daisya Fine Food; and Ceres Organics |
| Report Coverage | Market Overview, Key Market Trends, COVID-19’s Impact, Demand Analysis, Market Background, Segmental Analysis, Regional Profiling, Market Structure Analysis and Competition Analysis |
| Customization & Pricing | Available upon Request |
Table 01: list of Plant-based proteins
Table 02: Price Point Assessment by Region and Source (US$ MT), 2020
Table 03: Price Point Assessment by Region and Source (US$ MT), 2020
Table 04: Price Point Assessment by Region and Source (US$ MT), 2020
Table 05: Global Plant-based Butter Historical Market Value (US$ Mn) Analysis, by Source, 2015–2019
Table 06: Global Plant-based Butter Market Value (US$ Mn) Forecast, by Source, 2020–2030
Table 07: Global Plant-based Butter Historical Market Volume (MT) Analysis, by Source, 2015–2019
Table 08: Global Plant-based Butter Market Volume (MT) Forecast, by Source, 2020–2030
Table 09: Global Plant-based Butter Historical Market Value (US$ Mn) analysis, by Distribution Channel, 2015–2019
Table 10: Global Plant-based Butter Historical Market Value (US$ Mn) analysis, by Distribution Channel, 2015–2019
Table 11: Global Plant-based Butter Market Value (US$ Mn) forecast, by Distribution Channel, 2020–2030
Table 12: Global Plant-based Butter Historical Market Value (US$ Mn) analysis, by Distribution Channel, 2020–2030
Table 13: Global Plant-based Butter Historical Market Volume (MT) analysis, by Distribution Channel, 2015–2019
Table 14: Global Plant-based Butter Historical Market Volume (MT) analysis, by Distribution Channel, 2015–2019
Table 15: Global Plant-based Butter Market Volume (MT) forecast, by Distribution Channel, 2020–2030
Table 16: Global Plant-based Butter Historical Market Volume (MT) analysis, by Distribution Channel, 2020–2030
Table 17: Global Plant-based Butter Market Historical Market Value (US$ Mn) Analysis, by Region, 2015–2019
Table 18: Global Plant-based Butter Market Historical Market Volume (MT) Analysis, by Region, 2015–2019
Table 19: Global Plant-based Butter Market Value (US$ Mn) Forecast, by Region, 2020–2030
Table 20: Global Plant-based Butter Market Volume (MT) Forecast, by Region, 2020–2030
Table 21: North America Plant-based Butter Historical Market Value (US$ Mn) Analysis, by Source, 2015–2019
Table 22: North America Plant-based Butter Market Value (US$ Mn) Forecast, by Source, 2020–2030
Table 23: North America Plant-based Butter Historical Market Volume (MT) Analysis, by Source, 2015–2019
Table 24: North America Plant-based Butter Market Volume (MT) Forecast, by Source, 2020–2030
Table 25: North America Plant-based Butter Historical Market Value (US$ Mn) analysis, by Distribution Channel, 2015–2019
Table 26: North America Plant-based Butter Historical Market Value (US$ Mn) analysis, by Distribution Channel, 2015–2019
Table 27: North America Plant-based Butter Market Value (US$ Mn) forecast, by Distribution Channel, 2020–2030
Table 28: North America Plant-based Butter Historical Market Value (US$ Mn) analysis, by Distribution Channel, 2020–2030
Table 29: North America Plant-based Butter Historical Market Volume (MT) analysis, by Distribution Channel, 2015–2019
Table 30: North America Plant-based Butter Historical Market Volume (MT) analysis, by Distribution Channel, 2015–2019
Table 31: North America Plant-based Butter Market Volume (MT) forecast, by Distribution Channel, 2020–2030
Table 32: North America Plant-based Butter Historical Market Volume (MT) analysis, by Distribution Channel, 2020–2030
Table 33: North America Plant-based Butter Market Historical Market Value (US$ Mn) Analysis, by Country, 2015–2019
Table 34: North America Plant-based Butter Market Historical Market Volume (MT) Analysis, by Country, 2015–2019
Table 35: North America Plant-based Butter Market Value (US$ Mn) Forecast, by Country, 2020–2030
Table 36: North America Plant-based Butter Market Volume (MT) Forecast, by Country, 2020–2030
Table 37: Latin America Plant-based Butter Historical Market Value (US$ Mn) Analysis, by Source, 2015–2019
Table 38: Latin America Plant-based Butter Market Value (US$ Mn) Forecast, by Source, 2020–2030
Table 39: Latin America Plant-based Butter Historical Market Volume (MT) Analysis, by Source, 2015–2019
Table 40: Latin America Plant-based Butter Market Volume (MT) Forecast, by Source, 2020–2030
Table 41: Latin America Plant-based Butter Historical Market Value (US$ Mn) analysis, by Distribution Channel, 2015–2019
Table 42: Latin America Plant-based Butter Historical Market Value (US$ Mn) analysis, by Distribution Channel, 2015–2019
Table 43: Latin America Plant-based Butter Market Value (US$ Mn) forecast, by Distribution Channel, 2020–2030
Table 44: Latin America Plant-based Butter Historical Market Value (US$ Mn) analysis, by Distribution Channel, 2020–2030
Table 45: Latin America Plant-based Butter Historical Market Volume (MT) analysis, by Distribution Channel, 2015–2019
Table 46: Latin America Plant-based Butter Historical Market Volume (MT) analysis, by Distribution Channel, 2015–2019
Table 47: Latin America Plant-based Butter Market Volume (MT) forecast, by Distribution Channel, 2020–2030
Table 48: Latin America Plant-based Butter Historical Market Volume (MT) analysis, by Distribution Channel, 2020–2030
Table 49: EMEA Plant-based Butter Historical Market Value (US$ Mn) Analysis, by Source, 2015–2019
Table 50: EMEA Plant-based Butter Market Value (US$ Mn) Forecast, by Source, 2020–203
Table 51: EMEA Plant-based Butter Historical Market Volume (MT) Analysis, by Source, 2015–2019
Table 52: EMEA Plant-based Butter Market Volume (MT) Forecast, by Source, 2020–2030
Table 53: EMEA Plant-based Butter Historical Market Value (US$ Mn) analysis, by Distribution Channel, 2015–2019
Table 54: EMEA Plant-based Butter Historical Market Value (US$ Mn) analysis, by Distribution Channel, 2015–2019
Table 55: EMEA Plant-based Butter Market Value (US$ Mn) forecast, by Distribution Channel, 2020–2030
Table 56: EMEA Plant-based Butter Market Value (US$ Mn) forecast, by Distribution Channel, 2020–2030
Table 57: EMEA Plant-based Butter Historical Market Volume (MT) analysis, by Distribution Channel, 2015–2019
Table 58: EMEA Plant-based Butter Historical Market Volume (MT) analysis, by Distribution Channel, 2015–2019
Table 59: EMEA Plant-based Butter Market Volume (MT) forecast, by Distribution Channel, 2020–2030
Table 60: EMEA Plant-based Butter Market Volume (MT) forecast, by Distribution Channel, 2020–2030
Table 61: EMEA Plant-based Butter Market Historical Market Value (US$ Mn) Analysis, by Country, 2015–2019
Table 62: EMEA Plant-based Butter Market Historical Market Volume (MT) Analysis, by Country, 2015–2019
Table 63: EMEA Plant-based Butter Market Value (US$ Mn) Forecast, by Country, 2020–2030
Table 64: EMEA Plant-based Butter Market Volume (MT) Forecast, by Country, 2020–2030
Table 65: APAC Plant-based Butter Historical Market Value (US$ Mn) Analysis, by Source, 2015–2019
Table 66: APAC Plant-based Butter Market Value (US$ Mn) Forecast, by Source, 2020–2030
Table 67: APAC Plant-based Butter Historical Market Volume (MT) Analysis, by Source, 2015–2019
Table 68: APAC Plant-based Butter Market Volume (MT) Forecast, by Source, 2020–2030
Table 69: APAC Plant-based Butter Historical Market Value (US$ Mn) analysis, by Distribution Channel, 2015–2019
Table 70: APAC Plant-based Butter Historical Market Value (US$ Mn) analysis, by Distribution Channel, 2015–2019
Table 71: APAC Plant-based Butter Market Value (US$ Mn) forecast, by Distribution Channel, 2020–2030
Table 72: APAC Plant-based Butter Historical Market Value (US$ Mn) analysis, by Distribution Channel, 2020–2030
Table 73: APAC Plant-based Butter Historical Market Volume (MT) analysis, by Distribution Channel, 2015–2019
Table 74: APAC Plant-based Butter Historical Market Volume (MT) analysis, by Distribution Channel, 2015–2019
Table 75: APAC Plant-based Butter Market Volume (MT) forecast, by Distribution Channel, 2020–2030
Table 76: APAC Plant-based Butter Historical Market Volume (MT) analysis, by Distribution Channel, 2020–2030
Table 77: APAC Plant-based Butter Market Historical Market Value (US$ Mn) Analysis, by Country, 2015–2019
Table 78: APAC Plant-based Butter Market Historical Market Volume (MT) Analysis, by Country, 2015–2019
Table 79: APAC Plant-based Butter Market Value (US$ Mn) Forecast, by Country, 2020–2030
Table 80: APAC Plant-based Butter Market Volume (MT) Forecast, by Country, 2020–2030
Figure 01: Motivations to Being/Become Vegan
Figure 02: Percentage of Consumers Indicating If They Are Currently Trying to Reduce Their Meat Consumption
Figure 03: Reasons for People Eating Plant-Based Foods
Figure 04: Meat alternative motivations
Figure 05: Beef Consumption (thousand tones) – China
Figure 06: Relative Contribution of Top 5 GHG Emitting – Intensive Foods and All Other Foods
Figure 07: Funding Invested in Plant-Based Food and Cell-Based Meat, 2018
Figure 08: Global Plant-based Butter Market Size and Incremental $ Opportunity (US$ Mn), 2015-2030
Figure 09: Global Plant-based Butter Market Value and Volume Analysis, 2020
Figure 10: Global Plant-based Butter Market Value (US$ Mn) Scenario Forecast, 2020 & 2030
Figure 11: Global Plant-based Butter Market Share and BPS Analysis by Source – 2020 & 2030
Figure 12: Global Plant-based Butter Market Attractiveness Analysis by Source, 2020-2030
Figure 13: Global Plant-based Butter Market by Oat Milk Source Market Value (US$ Mn), Volume (MT) 2015-2030
Figure 14: Global Plant-based Butter Market Oat Milk Source Incremental $ Opportunity, 2020-2030
Figure 15: Global Plant-based Butter Market by Rice Milk Source Market Value (US$ Mn), Volume (MT) 2015-2030
Figure 16: Global Plant-based Butter Market Rice Milk Source Incremental $ Opportunity, 2020-2030
Figure 17: Global Plant-based Butter Market by Corn Milk Source Market Value (US$ Mn), Volume (MT) 2015-2030
Figure 18: Global Plant-based Butter Market Corn Milk Source Incremental $ Opportunity, 2020-2030
Figure 19: Global Plant-based Butter Market by Soy Milk Source Market Value (US$ Mn), Volume (MT) 2015-2030
Figure 20: Global Plant-based Butter Market Soy Milk Source Incremental $ Opportunity, 2020-2030
Figure 21: Global Plant-based Butter Market by Pea Milk Source Market Value (US$ Mn), Volume (MT) 2015-2030
Figure 22: Global Plant-based Butter Market Pea Milk Source Incremental $ Opportunity, 2020-2030
Figure 23: Global Plant-based Butter Market by Almond Milk Source Market Value (US$ Mn), Volume (MT) 2015-2030
Figure 24: Global Plant-based Butter Market Almond Milk Source Incremental $ Opportunity, 2020-2030
Figure 25: Global Plant-based Butter Market by Coconut Milk Source Market Value (US$ Mn), Volume (MT) 2015-2030
Figure 26: Global Plant-based Butter Market Coconut Milk Source Incremental $ Opportunity, 2020-2030
Figure 27: Global Plant-based Butter Market by Cashew Milk Source Market Value (US$ Mn), Volume (MT) 2015-2030
Figure 28: Global Plant-based Butter Market Cashew Milk Source Incremental $ Opportunity, 2020-2030
Figure 29: Global Plant-based Butter Market by Flax Milk Source Market Value (US$ Mn), Volume (MT) 2015-2030
Figure 30: Global Plant-based Butter Market Flax Milk Source Incremental $ Opportunity, 2020-2030
Figure 31: Global Plant-based Butter Market by Hemp Milk Source Market Value (US$ Mn), Volume (MT) 2015-2030
Figure 32: Global Plant-based Butter Market Hemp Milk Source Incremental $ Opportunity, 2020-2030
Figure 33: Global Plant-based Butter Market by Other Milk Source Market Value (US$ Mn), Volume (MT) 2015-2030
Figure 34: Global Plant-based Butter Market Other Milk Source Incremental $ Opportunity, 2020-2030
Figure 35: Global Plant-based Butter Market Share and BPS Analysis by Distribution Channel– 2020 & 2030
Figure 36: Global Plant-based Butter Market Attractiveness Analysis by Distribution Channel, 2020-2030
Figure 37: Global Plant-based Butter Market Share and BPS Analysis by B2B Distribution Channel– 2020 & 2030
Figure 38: Global Plant-based Butter Market Attractiveness Analysis by B2B Distribution Channel, 2020-2030
Figure 39: Global Plant-based Butter Market Share and BPS Analysis by B2C Distribution Channel– 2020 & 2030
Figure 40: Global Plant-based Butter Market Attractiveness Analysis by B2C Distribution Channel, 2020-2030
Figure 41: Global Plant-based Butter Market by B2B Distribution Channel Market Value (US$ Mn), Volume (MT) 2015-2030
Figure 42: Global Plant-based Butter B2B Distribution Channel Incremental $ Opportunity, 2020-2030
Figure 43: Global Plant-based Butter Market by B2C Distribution Channel Market Value (US$ Mn), Volume (MT) 2015-2030
Figure 44: Global Plant-based Butter Market B2C Distribution Channel Incremental $ Opportunity, 2020-2030
Figure 45: Global Plant-based Butter Market Value Share (%) and BPS Analysis by Region, 2015, 2020 & 2030
Figure 46: Global Plant-based Butter Market Y-o-Y Growth (%) Projections by Segment, 2020-2030
Figure 47: North America Plant-based Butter Absolute $ Opportunity Analysis, 2020-2030
Figure 48: Latin America Plant-based Butter Absolute $ Opportunity Analysis, 2020-2030
Figure 49: EMEA Plant-based Butter Absolute $ Opportunity Analysis, 2020-2030
Figure 50: APAC Plant-based Butter Absolute $ Opportunity Analysis, 2019-2029
Figure 51: Global Plant-based Butter Market Attractiveness Analysis, 2020-2030
Figure 52: North America Plant-based Butter Market Value (US$ Mn), Volume (MT) Forecast and Analysis, 2020-2030
Figure 53: North America Plant-based Butter Market Share and BPS Analysis by Source – 2020 & 2030
Figure 54: North America Plant-based Butter Market Attractiveness Analysis by Source, 2020-2030
Figure 55: U.S Plant-based Butter Market Incremental $ Opportunity, 2020-2030
Figure 56: Canada Plant-based Butter Market Incremental $ Opportunity, 2020-2030
Figure 57: Mexico Plant-based Butter Market Incremental $ Opportunity, 2020-2030
Figure 58: North America Plant-based Butter Market Share and BPS Analysis by Source – 2020 & 2030
Figure 59: North America Plant-based Butter Market Attractiveness Analysis by Source, 2020-203
Figure 60: North America Plant-based Butter Market Share and BPS Analysis by Distribution Channel – 2020 & 2030
Figure 61: North America Plant-based Butter Market Attractiveness Analysis by Distribution Channel, 2020-2030
Figure 62: North America Plant-based Butter Market Share and BPS Analysis by B2B distribution channel – 2020 & 2030
Figure 63: North America Plant-based Butter Market Attractiveness Analysis by B2B distribution channel, 2020-2030
Figure 64: North America Plant-based Butter Market Share and BPS Analysis by B2C distribution channel – 2020 & 2030
Figure 65: North America Plant-based Butter Market Attractiveness Analysis by B2C distribution channel, 2020-2030
Figure 66: Latin America Plant-based Butter Market Value (US$ Mn), Volume (MT) Forecast and Analysis, 2020-2030
Figure 67: Latin America Plant-based Butter Market Share and BPS Analysis by Source – 2020 & 2030
Figure 68: Latin America Plant-based Butter Market Attractiveness Analysis by Source, 2020-2030
Figure 69: Latin America Based Butter Market Share and BPS Analysis by Distribution Channel – 2020 & 2030
Figure 70: Latin America Plant-based Butter Market Attractiveness Analysis by Distribution Channel, 2020-2030
Figure 71: Latin America Plant-based Butter Market Share and BPS Analysis by B2B distribution channel – 2020 & 2030
Figure 72: Latin America Plant-based Butter Market Attractiveness Analysis by B2B distribution channel, 2020-2030
Figure 73: Latin America Plant-based Butter Market Share and BPS Analysis by B2C distribution channel – 2020 & 2030
Figure 74: Latin America Plant-based Butter Market Attractiveness Analysis by B2C distribution channel, 2020-2030
Figure 75: EMEA Plant-based Butter Market Value (US$ Mn), Volume (MT) Forecast and Analysis, 2020-2030
Figure 76: EMEA Plant-based Butter Market Share and BPS Analysis by Country – 2020 & 2030
Figure 77: EMEA Plant-based Butter Market Attractiveness Analysis by Country, 2020-2030
Figure 78: MEA Plant-based Butter Market Incremental $ Opportunity, 2020-2030
Figure 79: Europe Plant-based Butter Market Incremental $ Opportunity, 2020-2030
Figure 80: EMEA Plant-based Butter Market Share and BPS Analysis by Source – 2020 & 2030
Figure 81: EMEA Plant-based Butter Market Attractiveness Analysis by Source, 2020-2030
Figure 82: EMEA Plant-based Butter Market Share and BPS Analysis by Distribution Channel – 2020 & 2030
Figure 83: EMEA Butter Market Attractiveness Analysis by Distribution Channel, 2020-2030
Figure 84: EMEA Plant-based Butter Market Share and BPS Analysis by B2B distribution channel – 2020 & 2030
Figure 85: EMEA Plant-based Butter Market Attractiveness Analysis by B2B distribution channel, 2020-2030
Figure 86: EMEA Plant-based Butter Market Share and BPS Analysis by B2C distribution channel – 2020 & 2030
Figure 87: EMEA Plant-based Butter Market Attractiveness Analysis by B2C distribution channel, 2020-2030
Figure 88: APAC Plant-based Butter Market Value (US$ Mn), Volume (Unit) Forecast and Analysis, 2020-2030
Figure 89: APAC Plant-based Butter Market Share and BPS Analysis by Source – 2020 & 2030
Figure 90: APAC Plant-based Butter Market Attractiveness Analysis by Source, 2020-2030
Figure 91: Greater China Plant-based Butter Market Incremental $ Opportunity, 2020-2030
Figure 92: South East Asia Plant-based Butter Market Incremental $ Opportunity, 2020-2030
Figure 93: Japan Plant-based Butter Market Incremental $ Opportunity, 2020-2030
Figure 94: India Plant-based Butter Market Incremental $ Opportunity, 2020-2030
Figure 95: South Korea Plant-based Butter Market Incremental $ Opportunity, 2020-2030
Figure 96: Australia and New Zealand Plant-based Butter Market Incremental $ Opportunity, 2020-2030
Figure 97: APAC Plant-based Butter Market Share and BPS Analysis by Source – 2020 & 2030
Figure 98: APAC Plant-based Butter Market Attractiveness Analysis by Source, 2020-2030
Figure 99: APAC Based Butter Market Share and BPS Analysis by Distribution Channel – 2020 & 2030
Figure 100: APAC Plant-based Butter Market Attractiveness Analysis by Distribution Channel, 2020-2030
Figure 101: APAC Plant-based Butter Market Share and BPS Analysis by B2B distribution channel – 2020 & 2030
Figure 102: APAC Plant-based Butter Market Attractiveness Analysis by B2B distribution channel, 2020-2030
Figure 103: APAC Plant-based Butter Market Share and BPS Analysis by B2C distribution channel – 2020 & 2030
Figure 104: APAC Plant-based Butter Market Attractiveness Analysis by B2C distribution channel, 2020-2030
Figure 105: Plant-based Butter Industry Structure Analysis, 2019
Figure 106: Key players in Plant-based Butter Industry (market share in % of value), 2019
Figure 108: Company Market Share Analysis of Top 10 Players, By Region
Figure 107: Company Share Analysis- By Source
As per the Future Market Insights (FMI) market study, the global plant-based butter market is likely to derive growth from the wide range of plant-sources, and flavors, surpassing USD 2.4 Billion by 2020 and rising at a value CAGR of 7.6%.
US is expected to be the leading market for plant-based butter products, accounting for over 35% of the global revenue share by the end of the forecast period. Growth in the region is attributed to higher health awareness and adoption in fast food applications.
The COVID-19 pandemic has created opportunities for growth. While the lockdown regulations in early 2020 has hurt demand from the food service sector, the demand for planned, healthy, vegan diets will create higher demand in the short term.
Prominent plant-based butter manufacturers include
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Plant-based Butter Market
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