Vegan Butter Market Competitive Landscape Analysis, Growth Factors, Regional Developments and Forecasts – 2022-2032
The vegan butter market is expected to top US$ 2.7 Bn in 2022 and is projected to grow at a CAGR of 5.7% between 2022 and 2032, surpassing US$ 4.8 Bn by 2032. The global vegan butter demand is projected to grow year-on-year (Y-o-Y) growth of 5.5% in 2022. Plant-based diet is gaining popularity for its huge benefits including the environment, health, and animal welfare.
Numerous plant-based products from milk alternatives to plant-based cheese are now available in the market including vegan butter. Vegan butter, sometimes referred to as plant-based butter, is a non-dairy substitute of butter which is generally made by combining water with a plant-derived oil.
The butter can be cultured via fermentation in food labs but only with plant-based sources. The cultures produced during fermentation are from lactobacillus genus only, but developed on vegetables or vegan substrates as opposed to dairy substrates.
The aforementioned cultures can leverage fermentation process to tailor the flavor of different unique cultures for the specific product which all are plant-based dairy alternatives, such as cream cheese, butter, dips, and brie.
The products can contain different additional ingredients as well, such as emulsifiers, salt, natural or artificial flavors, and colorings, to resemble the texture and taste of real butter, but always free of animal-sourced products.
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Key Takeaways from Market Study
“Unlike most butters, vegan butters are low in total fat and calories, which can vary depending on each product ingredients, which is also in high demand. Hence, vegan butters are gaining immense popularity for their healthy content, compelling manufacturers to include the product as a food ingredient,” says a Future Market Insights analyst.
Competitive Landscape
Key vegan butter brands are adopting new strategic partnerships to expand their product capacities in food and beverage industry. Some of the core business brands are focusing on developing nutritional and high quality food solutions while being innovative with formulations to attract more customers towards the product.
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global Vegan Butter market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Vegan Butter Market by Category
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Aug 12, 2022