Europe Vegan Butter Market: Industry Analysis and Forecast (2024-2030)

Europe Vegan Butter Market Overview:

 

A vegan or plant-based diet excludes meat, fish, eggs, and dairy products, including milk, cheese, and yogurt, all of which are traditionally derived from animals and their derivatives. All animal products, including dairy, fish, and meat, are prohibited in a vegan diet.

 

Vegan butter is created using various components that may be used in place of butter in culinary recipes to impart the same flavor to food as butter would have. Anyone who wants to reduce their daily intake, including vegans, should use this type of butter.

 

The trend for vegan butter is rising as only plant-based alternatives, and better-quality ingredients offer more excellent quality. The growing awareness regarding alternatives to regular milk-made butter is leading to the growth of the vegan butter market.

 

As per the European Commission, disposable income levels dropped by over 700 euros in 2021. Consequently, home cooking is becoming more popular as an option for savings. This will create potential revenue generation opportunities during this period.

 

 

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Europe Vegan Butter Market Dynamics:

 

Market Drivers:

 

The booming demand from millennials and emerging regions is expected to drive the vegan butter market revenue to rise at a robust CAGR. The major growth drivers in the European vegan butter market include technological advancements that allow for effective manufacturing, and increasing product variety, innovative design and packaging, efficient operational maintenance, and sales monitoring.

 

European citizens who are patients with heart diseases, obesity or diabetes are often recommended to follow fat-free diets and reduce their dairy products intake. They often look for healthier options replacing dairy products, so vegan butter is one such healthier option. This leads to a growth in the European vegan butter market.

 

Increased spending on functional and healthy foods that help boost the immune system, as well as an increased orientation toward clean label and vegan products lead to burgeoning sales of plant-based snacks, spreads, dips, creamers, sauces, cheese, and other food and beverages are factors leading to the growth of the European vegan butter market.

 

Growing awareness about animal cruelty, health aspects as well as growing environmental concerns regarding the production of milk, which is a raw material in the production of butter, has led to a massive shift in the demand for the product in the European Vegan butter market.

 

Market Restraints:

 

The major vegan butter market restraints are complying with strict rules and disparate standards in Europe, increasing competition, and inflation expected to stay over the upper band in critical countries over the short term.

 

The effect of the pandemic in its first year caused utter havoc to the vegan butter market, owing to the supply chain disruptions and storage warehousing issues, which caused interruptions in production. The economic and social effect of COVID is considered considerably varied amongst different regions of Europe, and Vegan Butter market participants are adopting country-specific strategies.

 

Due to a decrease in businesses in various regions in Europe due to lockdowns, consumers' spending power has also reduced. Since butter is a premium product, the sales of vegan butter considerably reduced owing to high prices over regular butter and low access in convenience stores.

 

Europe Vegan Butter Market Segment Analysis:

 

On the basis of Type, the European Vegan butter market is segmented into vegetable butter and nut butter. Vegetable butter is a foodstuff with a distinctively creamy texture made from fat and pureed vegetables. This vegan butter is ideal for people sensitive to lactose or casein because it is made entirely of veggies and includes no dairy components.

 

A culinary paste formed of nuts is called nut butter. Other components, including salt, sweeteners, and flavors, are frequently added. Nut butter of all kinds, including almond and peanut butter, can be utilized. Almonds, cashews, and peanuts are the most popular nuts used to manufacture this food. These culinary items are frequently consumed alone or with bread or crackers. Vegetable butter is more commonly utilized as it can be consumed by those who may be allergic to certain ingredients used to prepare vegan butter.

 

 

    `On the basis of Channel of Distribution, the European Vegan butter market is segmented into Hypermarkets, Convenience stores, Online medium, and others. In supermarkets and hypermarkets, vegan butter is used for cooking. It's also used to replace dairy butter, which may be kept at room temperature. Vegan butter has several advantages over dairy products, including the absence of lactose and casein (milk proteins), lack of cholesterol, and lack of need for refrigeration. Health worries about the former components make them popular with those who may not normally consume vegan alternatives to dairy food products.

 

As it is less perishable in consumer goods stores and has a longer shelf life than dairy butter, vegan butter is well-liked at convenience stores. Health-conscious consumers prefer vegan butter over traditional dairy products, which are also popular among vegetarians.

 

Since the advent of technology and the internet has taken over so many aspects of our lives, the internet can also be used to order and purchase grocery items. This mode of distribution offers convenience and discounts as well. Hypermarkets held the largest segment in the vegan butter market in terms of channels of distribution. The online medium is growing steadily and is estimated to be the largest segment in the forecast period.

 

Europe Vegan Butter Market Regional Insights:

 

The European Vegan Butter Market is divided into the following areas; Finland, Greenland, Iceland, the UK, Germany, Ukraine, etc. Europe is the 2^nd largest consumer of Vegan Butters, market size in 2030 is expected to witness a 5.7 % increase from 2023.

 

Most European vegan butter players offer good quality, healthy Vegan Butters that help boost their market position and work in favor of the target industry and their needs and wants.

 

Another significant aspect that leads to an increase in the use of Vegan butter is the developed consumers and increasing Purchasing power of consumers in Europe. As consumers in Europe become more animal cruelty conscious and search for healthier alternatives, the demand for the market gows.

 

The objective of the report is to present a comprehensive analysis of the European Vegan Butter Market to the stakeholders in the industry. The report provides the most dominant trends in the European Vegan Butter Market and how these trends de influence new business investments and market development throughout the forecast period. The report also aids in comprehending the European Vegan Butter Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Europe Vegan Butter Market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key industry players and their recent developments in the European Vegan Butter Market. The report studies the company size, market share, market growth, revenue, production volume, and profits of the key players in the European Vegan Butter Market.

 

The report provides Porter's Five Force Model, which helps design the business strategies in the market. The report helps identify how many rivals exist, who they are, and their product quality in the European Vegan Butter Market. The report also analyses if the European Vegan Butter Market is accessible for a new player to gain a foothold in the market and their entry or exit, and if a few players dominate the market.

 

The report also includes a PESTEL Analysis, which aids in developing company strategies. Political variables help determine how much a government can influence the European Vegan Butter Market. Economic variables aid in analyzing economic performance drivers that impact the European Vegan Butter Market. Legal factors aid in understanding the impact of the surrounding environment and the influence of environmental concerns on the European Vegan Butter Market.

 

Europe Vegan Butter Market Scope

Europe Vegan Butter Market
Market Size in 2023	USD 0.59 Bn.
Market Size in 2030	USD 0.89 Bn.
CAGR (2024-2030)	6 %
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Type Vegetable Butter Nut Butter
	By Distribution channel Supermarkets Convenience stores Online medium
Country Scope	UK  France Germany Italy  Spain  Sweden Austria and Rest of Europe

 

Europe Vegan Butter Market Key Players: 

• Naturli Foods
• Upfield Foods 
• Vitalite
• Flora
• Naturli
• Mouse’s Favourite
• Pure