Plant Based Butter Market, Share, Growth Rate, Trends, Analysis, Future Scope, Forecast To 2027

[mayur gunjal]

Market Overview
Vegan butters are the spreads made from various plant-based sources such as vegetables and nuts. These spreads are highly nutritional with high good fat content and are used as a substitute to dairy butter by the surging vegan population. Vegan butters are witnessing an increasing shelf space in various retail stores across the globe due to the increasing consumption of vegan butter in both food retail and food service sector. Several hotels and restaurants are consuming plant-based butters to cater the rising demand for vegan menu.
Based on type, the global plant based butter market has been segmented into vegetable butter, nut butter, and others. The vegetable butter segment is projected to garner the highest revenue share in the global plant based butter market due to high sales of various vegetable butters such as peanut butter, cocoa butter, and shea butter among others. However, the nut butter segment is projected to grow with the highest CAGR during the forecast period owing to a hike in the number of peanut allergies and increasing awareness regarding the health benefits offered by various nuts such as almonds, cashews, macadamia, and others.
Key Players
Some of the key players in the global plant based butter market are Miyoko's (US), I Can't Believe It's Not Butter (US), Conagra Brands, Inc. (US), WayFare Foods (Montana), Prosperity Organic Foods, Inc. (Idaho), Naturli 'Foods A / S (Denmark).
Market Segmentation:
The global plant based butter market has been segmented on the basis of type, packaging type, distribution channel, and region.
The global plant based butter market has been divided, by type, into vegetable butter, nut butter, and others.
Based on packaging type, the global market has been segregated into tubs/cups, jars/bottles, and others.
By distribution channel, the global market has also been segregated into store-based, non-store-based. The store-based segment is further bifurcated into supermarkets & hypermarkets, convenience stores, and others.
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Regional Analysis
The global plant based butter market has been segmented by region, into North America, Europe, Asia-Pacific, and rest of the world.
North America is expected to lead the global plant based butter market due to the rising trend of veganism in the region. In addition, the presence of several prominent market players in the region is also fueling the regional market growth.
Europe plant based butter market is projected to be the fastest-growing during the forecast period due to the surging consumption of natural & organic plant-based food in the region. Moreover, the region is witnessing a rise in the number of new product launches regarding vegan products.
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