IdealweenWhat is happening in plant-based butter industry in the world…
What is happening in plant-based butter industry in the world…
The value of the plant-based butter industry in the United States is estimated at $275 million in 2020, and this number is increasing.
The global plant-based butter market value is projected to reach US$ 2.5 billion by 2027 and estimated to reach US$ 5.1 billion valuation by the end of 2030. North America will have a major role to play in future growth led by the United States in plant-based butter usage.
Common types of Plant-based butter in the World.
Today, there are 12 types of plant-based butter in the world, which are as below:
Why Plant-based Food Industry Is Increasing?
In the recent years between 2015 and 2019, the plant-based butter market has grown progressively. According to FMI report, during mentioned years dairy volumes slumped by like around 300 million gallons. On the other side, the consumption of plant-based alternatives grew up by around 50 million gallons. This trend has continued post 2019 and is likely to rise through 2030.
The market study has been tracked plant-based products demands in more than 20 countries, with a comprehensive section on the effects of the covid-19 pandemic on different varies industries.
We’ve found that paying more attention to the health cares in families across the World has been increased obviously after covid-19 pandemic. It can be a cause for plant-based butter usage has been increased.
Who is using Plant-based butter in 2023?
According to our recent study, in terms of the age, near 57% of the plant-based butter is the age range of 23-38 years old who will pay enough attention to be fit and healthy, specially in recent years. After that, the age range of 39-54 has the most consumption level, it can because of the diets under control of their doctors.
You can see the full diagram below:
In terms of gender, females (52.24%) use plant-based butter more men (47.76%).
It is also interesting to know the well-educated sector is using plant-based butter more in compare with low level of educated people.
Where people using Plant-based butters in?
We’ve found that the most usage of plant-based butter is in breakfast, around 41%. After that, people will use it in foods, around 31%. You can also see the remain items in below diagram:
Idealween has also studied the following industries in it’s details:
-Milk
-Cheese
-Ice cream
-Yogurt
-Cream
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–And much other studies in FMCG sector…