Market Overview:
The global vegan butter market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to factors such as rising awareness about veganism, increasing demand for plant-based foods, and growing number of health-conscious consumers. In addition, the increasing penetration of supermarkets and hypermarkets is also contributing to the growth of the global vegan butter market. Based on type, vegetable butter accounted for a major share of the global vegan butter market in 2017. This can be attributed to its high nutritional value and its ability to replace dairy products in various applications such as baking and cooking. Nut butters are also gaining popularity due their high nutritional value and health benefits such as weight loss and improved heart health. They are being increasingly used in bakery items, smoothies, shakes, etc., thereby boosting their demand globally. Based on application, supermarkets/hypermarkets accounted for a major share of the global vegan butter market in 2017 owing to their large store footprints across regions worldwide coupled with rising consumer inclination towards healthy food options. Convenience stores are also witnessing significant growth due to changing lifestyles and busy schedules of consumers across regions which has led them towards adopting convenient shopping formats for purchasing food items.
Product Definition:
A vegan butter is a type of margarine that does not contain dairy products or other animal-derived ingredients. It is often used as a spread, condiment, or baking ingredient by vegans and people with food allergies or sensitivities to dairy products.
Vegetable Butter:
Vegetable butter is a plant-based spread or butter that can be used as an alternative to dairy or animal based butters. It is usually made from vegetable oils such as soy, palm, sunflower and coconut oil. Some varieties may contain ingredients such as herbs, spices and salt for flavor.
Nut Butter:
Nut butter is a natural food product made from nuts, seeds, or grain that has been ground into a paste. It can be used as an alternative to regular butter for cooking and baking purposes. The primary ingredients in nut butters include oil (almond, peanut, sunflower), sweetener (honey, agave nectar), flavoring agents (spices/herbs), and salt.
Application Insights:
On the basis of application, the global vegan butter market has been segmented into hypermarkets and supermarkets, convenience stores, others (restaurant & bakery stores, food service providers), and unorganized retail. The hypermarkets and supermarkets segment dominated the market in 2017 owing to growing consumer awareness regarding a healthy diet with reduced amount of saturated fat intake along with an increasing number of these retail outlets across various countries worldwide.
The Others application segment is expected to grow at a significant rate over the forecast period due to rapid expansion of existing store networks by international fast-food chains such as McDonald¢â‚¬â„¢s Corp., Pizza Hut LLC., Taco Bell LLC., KFC Corporation among others. Moreover, new store openings by domestic chains such as Wingstop Inc., Long John Silver¢â‚¬â„¢s Pizzeria Inc., Dairy Queen Franchises Ltd. are also expected to contribute towards industry growth over the coming years.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing awareness regarding veganism and demand for plant-based products. Furthermore, rising health concerns have resulted in increased consumption of healthy foods among consumers, which will further boost the market growth over the next eight years.
Asia Pacific is anticipated to be one of the fastest growing markets due to changing consumer lifestyle and increasing disposable income levels in emerging countries such as China and India. Moreover, a large population base with high purchasing power will also support regional product demand during forecast years from 2018 to 2030. Europe accounted for more than 15% share of global revenue in 2017 owing both to its large vegan population along with an increase interest towards healthy food products among consumers from Germany, U K., France & Italy etc.
Growth Factors:
- Increasing awareness about the health benefits of vegan butter among consumers.
- Rising demand for plant-based foods due to their health benefits and environmental sustainability.
- Growing popularity of veganism as a lifestyle choice among consumers in developed countries.
- Availability of a wide variety of vegan butters in different flavors and textures, making it more appealing to consumers.
- Reduction in the prices of vegan butters due to increasing competition among manufacturers
Scope Of The Report
Report Attributes
Report Details
Report Title
Vegan Butter Market Research Report
By Type
Vegetable Butter, Nut Butter,
By Application
Hypermarkets and Supermarkets, Convenience Stores, Others,
By Companies
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 (Denmark)
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
234
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Vegan Butter Market Report Segments:
The global Vegan Butter market is segmented on the basis of:
Types
Vegetable Butter, Nut Butter,
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hypermarkets and Supermarkets, Convenience Stores, Others,
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report 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 (Denmark)
Highlights of The Vegan Butter Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Vegetable Butter
- Nut Butter
- By Application:
- Hypermarkets and Supermarkets
- Convenience Stores
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Vegan Butter Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Vegan butter is a type of vegan cheese that is made from plant-based oils and butters. It can be used as an ingredient in recipes or as a standalone product.
Some of the major companies in the vegan 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 (Denmark).
The vegan butter market is expected to grow at a compound annual growth rate of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Vegan Butter Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Vegan Butter Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Vegan Butter Market - Supply Chain
4.5. Global Vegan Butter Market Forecast
4.5.1. Vegan Butter Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Vegan Butter Market Size (000 Units) and Y-o-Y Growth
4.5.3. Vegan Butter Market Absolute $ Opportunity
5. Global Vegan Butter Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Vegan Butter Market Size and Volume Forecast by Type
5.3.1. Vegetable Butter
5.3.2. Nut Butter
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Vegan Butter Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Vegan Butter Market Size and Volume Forecast by Application
6.3.1. Hypermarkets and Supermarkets
6.3.2. Convenience Stores
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Vegan Butter Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Vegan Butter Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Vegan Butter Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Vegan Butter Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Vegan Butter Demand Share Forecast, 2019-2026
9. North America Vegan Butter Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Vegan Butter Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Vegan Butter Market Size and Volume Forecast by Application
9.4.1. Hypermarkets and Supermarkets
9.4.2. Convenience Stores
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Vegan Butter Market Size and Volume Forecast by Type
9.7.1. Vegetable Butter
9.7.2. Nut Butter
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Vegan Butter Demand Share Forecast, 2019-2026
10. Latin America Vegan Butter Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Vegan Butter Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Vegan Butter Market Size and Volume Forecast by Application
10.4.1. Hypermarkets and Supermarkets
10.4.2. Convenience Stores
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Vegan Butter Market Size and Volume Forecast by Type
10.7.1. Vegetable Butter
10.7.2. Nut Butter
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Vegan Butter Demand Share Forecast, 2019-2026
11. Europe Vegan Butter Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Vegan Butter Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Vegan Butter Market Size and Volume Forecast by Application
11.4.1. Hypermarkets and Supermarkets
11.4.2. Convenience Stores
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Vegan Butter Market Size and Volume Forecast by Type
11.7.1. Vegetable Butter
11.7.2. Nut Butter
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Vegan Butter Demand Share, 2019-2026
12. Asia Pacific Vegan Butter Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Vegan Butter Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Vegan Butter Market Size and Volume Forecast by Application
12.4.1. Hypermarkets and Supermarkets
12.4.2. Convenience Stores
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Vegan Butter Market Size and Volume Forecast by Type
12.7.1. Vegetable Butter
12.7.2. Nut Butter
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Vegan Butter Demand Share, 2019-2026
13. Middle East & Africa Vegan Butter Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Vegan Butter Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Vegan Butter Market Size and Volume Forecast by Application
13.4.1. Hypermarkets and Supermarkets
13.4.2. Convenience Stores
13.4.3. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Vegan Butter Market Size and Volume Forecast by Type
13.7.1. Vegetable Butter
13.7.2. Nut Butter
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Vegan Butter Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Vegan Butter Market: Market Share Analysis
14.2. Vegan Butter Distributors and Customers
14.3. Vegan Butter Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Miyoko's (US)
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. I Can't Believe It's Not Butter (US)
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Conagra Brands, Inc. (US)
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. WayFare Foods (Montana)
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Prosperity Organic Foods, Inc. (Idaho)
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Naturli Foods (Denmark)
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. COMPANY7
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
