Plant-Based Butter Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018-2022 and Forecast 2023-2029

Description

Plant-Based Butter Market size was valued at USD 2,364.7 million in 2022 and is expected to grow at a CAGR of 5.2% from 2023-2029. Plant-based butter is a batter prepared from plant extracts such as soy, almond, vegetable oils, and coconut. Butter is the most utilized ingredient in cooking by customers and food producers. Maximum butter products are based on milk having cholesterol and heavy saturated fat, which can encourage extra fat in the human body. It is relatively low in saturated fat and palates like dairy butter and can be utilized in baking, cooking, and spreading’s. This can be used in soups, sausages, food premixes, bakeries, packaged and prepared food, households, the food service industry, and others. The plant-based butter is becoming more prevalent among customers as a dairy substitute with extra health benefits. It helps to preserve healthy cholesterol levels, lactose-free and gluten-free, with the goodness of plant extracts, which makes it a healthy and unique substitute for consumers. The rising vegan population across the world can lead to the plant-based butter market growth. Moreover, the increase in awareness connected to cruelty to animals and its hostile environmental impact can boost the global plant-based butter market growth. However, some factors, such as the high price of vegan butter and its products and fluctuation in costs of raw materials such as vegetables and nuts, can restrain the growth of the market. The novelty and changes in various flavors by the key players can create an opportunity for the growth of the global plant-based butter market share.

Key Developments:

In December 2021, Pune-Based Axia Foods launched the ‘World’s First’ plant-based butter with protein.