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