By 2032, the global vegan butter market is expected to develop at a CAGR of 5.7 percent, reaching a value of US$ 4.8 billion. The environmental, health, and animal welfare benefits of a plant-based diet are gaining favor.
Vegan butter is one of many plant-based goods presently available on the market, ranging from milk replacements to plant-based cheese. Vegan butter, also known as plant-based butter, is a non-dairy alternative to butter that is prepared by blending water and a plant-derived oil.
In food labs, the butter can be cultivated through fermentation, but only using plant-based sources. The cultures created during fermentation are all from the lactobacillus genus, however, they were grown on vegetable or vegan substrates rather than dairy.
Takeaways from the Market Research
The vegan butter market is expected to reach US$ 2.7 billion in 2022, with a CAGR of 7% through 2032.
In 2022, global vegan butter demand is expected to grow by 5% year over year (Y-o-Y).
Between 2017 and 2021, demand for vegan butter grew at a 0% CAGR.
The oat milk segment is expected to increase strength throughout the projection period in terms of product.
Flavored vegan butter sales are expected to increase during the projection period due to increased demand.
“Unlike conventional butter, vegan butter is low in total fat and calories, which varies depending on the components in each product, and is in high demand.” As a result, vegan butter is rising in popularity due to its high nutritional value.
To extend their production capacity in the food and beverage business, major vegan butter brands are forming new strategic collaborations. Some of the key business brands are concentrating on providing nutritional and high-quality food solutions while also being creative with formulas to draw in new clients.
Amarone Foods, an Israeli company, announced in February 2020 that it would launch a dairy-free butter called “Butter’s Vegan Twin.” To attract more customers, the company is committed to developing plant-based foods with a small number of ingredients that are 100% natural. Better is the brand name for the product, which is created with only four ingredients: pure coconut oil, organic soy lecithin, water, and arrowroot powder.