Global Plant-Based Butter Market Size to Exceed USD 4.41 Billion by 2033: Forecast Analysis Report

Global Plant-Based Butter Market Size to Exceed USD 4.41 Billion by 2033 

According to a research report published by Spherical Insights & Consulting, the Global Plant-Based Butter Market Size Expected to Grow from USD 2.32 Billion in 2023 to USD 4.41 Billion by 2033, at a CAGR of 6.63% during the forecast period 2023-2033.

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Plant-Based Butter Market Size, Share, and COVID-19 Impact Analysis, By Type (Salted and Unsalted), By Source (Peanut, Almond, Cashew, Soy, and Coconut), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033  

The industry that produces, distributes, and sells butter substitutes derived from plant-derived oils such as cocoa, avocado, palm kernel, or olive oil is known as the "plant-based butter market." Additionally, a growing number of consumers are looking for dairy substitutes because of lactose intolerance, allergies, and a desire for nutrient-dense, lower-calorie products. Additionally, plant-based butters now have a better taste and texture thanks to product development innovation and technological breakthroughs, which has increased their attractiveness. Additionally, as more individuals worldwide transition to plant-based diets, the growing popularity of flexitarianism and veganism has increased the consumer base. Furthermore, market expansion has been facilitated by favorable government policies and regulations that encourage plant-based diets in certain locations, which has created an atmosphere that is conducive to the growth of the plant-based butter business. However, the market for plant-based butter is constrained by the fact that it costs more than butter made from animals. Prices for plant-based butter are rising because the market lacks the economies of scale that the animal-based butter business enjoys.

The salted segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.                

Based on type, the global plant-based butter market is categorized as salted and unsalted. Among these, the salted segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The advantageous qualities of salted butter, such as its ability to enhance flavor and act as a natural preservative, are responsible for this segment's substantial market share. Additionally, this segment's growth is supported by its extended shelf life, reduced danger of nutrient deterioration and spoiling, and affordability as compared to unsalted butter.

The peanut segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.       

Based on the source, the global plant-based butter market is categorized as peanut, almond, cashew, soy, and coconut. Among these, the peanut segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. This is due to its ease and high availability, low cost, high nutritious content, and high customer acceptance, this segment has a considerable market share.

North America is projected to hold the largest share of the global plant-based butter market over the forecast period.

North America is projected to hold the largest share of the global plant-based butter market over the forecast period. Plant-based substitutes are in high demand among consumers because to dietary limitations, environmental concerns, and growing health consciousness. A sizable portion of the population chooses vegan and vegetarian diets, reflecting the region's strong emphasis on health and wellness. The quick uptake of plant-based butter products can also be attributed to North American consumers' early adoption of culinary innovations and trends.

Asia Pacific is expected to grow at the fastest CAGR growth of the global plant-based butter market during the forecast period. Growing awareness of the importance of eating a nutritious diet, rising urbanization and income levels, increased indulgence in sports and leisure activities by the region's huge population base, and the growing number of vegans are all factors contributing to this region's significant market share.

Competitive Analysis

Major vendors in the global plant-based butter market are Upfield, Miyoko’s Creamery, Conagra, Inc, Califia Farms, Kite Hill, Ripple Foods, PBC; Elmhurst Buttered Direct, LLC; Milkadamia, Fora Foods, Naturli’ Foods A/S, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development

• In October 2024, after its 2023 launch in Europe, Bunge has now introduced Beleaf PlantBetter in North America. Aeration, volume, and taste are additional challenges in butter substitutes, but the St. Louis-based company claims that the ingredient is made for food manufacturers and bakers looking for plant-based substitutes that match the sensory qualities and versatile functionality of traditional dairy butter.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global plant-based butter market based on the below-mentioned segments: 

Global Plant-Based Butter Market, By Type

• Salted
• Unsalted

Global Plant-Based Butter Market, By Source

• Peanut
• Almond
• Cashew
• Soy
• Coconut

Global Plant-Based Butter Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa