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Demand Unveiling the Rise of Oat-Based Vegan Butter in a US$ 4,784.7 Million Market Set to Surge at 5% CAGR by 2033


The global vegan butter market is forecasted to expand at 5% CAGR over the estimated period as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 4,784.7 million in 2033

The B2C sales channel indicates that there is a growing demand for vegan butter made from oats, which is propelling the market ahead. The demand for oat-based vegan butter is rising due to the popularity of oat milk and related products.

Vegan butter sales are rising as clean-label and vegan goods gain popularity. Companies such as Miyoko’s Creamery are working to have their vegan butter products certified so they can market them as “gluten-free,” “soy-free,” and “non-GMO.” Gaining public acceptance and boosting the overall sales of plant-based butter are the goals of labelling.

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Within the bakery industry, vegan butter is being perceptibly used at a large scale now. This evolution in the ingredient choice has been dictated by the surging health-wary consumers, who are seeking bakery items made of vegan butter.

Flavored vegan butter has also been gaining widespread traction, as evident with the increasing number of merchants introducing their line of flavored plant-based butter. Manufacturers require to focus on technological upgrades over the forecast period to:

Enhance manufacturing processes
Sales monitoring
Packaging and design
Product variety for business expansion
Geographically, North America is a large market for vegan butter, representing a significant proportion of global consumption. The United States leads the regional market and the global market.

Growth in Asia Pacific region can be accorded to consumer discernment regarding the health and wellness benefits of vegan goods and heightened demand for a vegan diet among the young generation. India, as per FMI’s latest statistics, is projected to expand at 6.5% from 2023 to 2033.

Top Highlights from the FMI’s Analysis of the Vegan Butter Industry:

The United States vegan butter industry garnered a 22.4% market share in 2022.
Germany’s share in the global vegan butter industry was 6% in 2022.
The United Kingdom is anticipated to expand from 2023 to 2033 with a CAGR of 5.5%.
Japan’s market contributed a value share of 2.9% in 2022.
India’s vegan butter industry is projected to register a prominent CAGR of 6.5% over the forecast period.
China’s vegan butter industry is forecasted to expand at 3.8% CAGR over the estimated period.
Based on source, the oat milk segment acquired a 26.9% market share in 2022.
Based on flavor, the unflavored segment represented 63.5% of the global market in 2022.
Under the category of sales channel, the B2C segment garnered 78.4% of the overall market in 2022.
Innovation Watch: New Developments in the Market

In September 2019, Country Crock® made moves along with the plant-based food movement by introducing Country Crock® Plant Butter, a new dairy-free plant butter, that is similar in taste to dairy butter. The product is made of plant-based oils and enriched with oils like almonds, avocados, and olives. The product is certified by Plant Based Foods Association (PBFA) as kosher, gluten-free, and plant-based, making it appropriate for vegan diets.
In July 2020, Flora, a margarine brand, announced that it is going 100% vegan. Following this announcement, the company introduced the Flora Plant range of 100% vegan butter. The block butter consists of palm, rapeseed, and sunflower oil. The wrapping material of this butter block is 100% biodegradable.
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Key Players Operating in the Market

Wayfare Food
Chobani LLC
Miyoko’s Creamery
Milkadamia
Prosperity Organic Foods, Inc
Conagra Brands Inc.
Upfield Foods
Premier Organics
Forager Project
wildCREAMERY (Wildbrine®)
Others
Vegan Butter Industry by Category

By Source:

Rice Milk
Oat Milk
Soy Milk
Corn Milk
Almond Milk
Pea Milk
Cashew Milk
Coconut Milk
Hemp Milk
Flax Milk

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Insect Protein Market Expected to Reach US$ 3.1 Billion Globally by 2033 A Health-Conscious Trend Sweeping Europe, USA, and Beyond


From 2023 to 2033, the insect protein market is projected to accelerate at a CAGR of 17.7% from its 2023 value of US$ 602.3 million. By 2033, there is going to be US$ 3.1 billion global market.

It is anticipated that demand for insect protein would increase over the course of the forecasted period as a result of growing consumer awareness of the advantages of consuming nutrient-dense foods and expanding customer preference for a healthy lifestyle.

Thriving Applications and High Protein Content in Insects Insect Protein Need is Increasing

There is an increased demand for nutrient-dense food items as a result of rising health concerns among consumers worldwide. As a result, producers in numerous other sectors now have access to the market for these food items.

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Consumers of today love natural products and are interested about the components, production methods, and geographic origins of the food they eat. Some of the key factors anticipated to propel the insect protein market’s growth over the course of the forecast year include consumers looking for wholesome and environmentally friendly food options, rising spending on functional food products, an increase in athletes and gym goers, and consumers.

High Costs Limit Market Expansion

Because of its usefulness, benefits to the environment, and nutritional value, insect protein is one of the distinctive and inventive animal feed proteins. High prices, regulations, and a lack of production capacity continue to be the key barriers to the growth of the insect protein business.

The equipment and processes needed to create insect-based proteins must be upgraded for mass production because they are currently expensive. Even though many consumers are priced out of this market, few consumers are willing to pay higher rates for the environmental and health benefits of protein derived from insects.

Regional Outlook

A growing demand for human consumption products could lead to rapid growth in Europe.

The European continent provided the majority of the income. In the European insect protein market, consumer acceptance of insect protein is higher for applications in the food and beverage industry, animal nutrition, and personal care.

The recent licencing of insect protein for feed, particularly that for pigs and poultry, is expected to enhance demand in the European market. Because industrialised countries like France, Germany, and the United Kingdom have a strong demand for insect protein, it is projected that the market would expand significantly throughout the projection period.

The majority of the revenue came from North America. Because consumers are becoming more aware of the use of insect-based products and have a larger need for nutrient-dense food products, the market is expected to be significant.

The market for insect protein is expected to expand over the course of the anticipated period due to Mexico and Canada’s significant growth potential for new businesses and product launches.

Key Takeaways

With a CAGR of 20.6% and an expected market size of US$ 1.1 billion in 2033, the insect protein market in the United States is expected to grow rapidly over the projected period.
With a strong CAGR of 11.9% and an expected market size of US$ 129 million in 2033, the Chinese market is expected to grow throughout the course of the estimated period.
In 2033, it is expected that the Japan market would generate US$ 61.7 million and grow at a 9.5% CAGR.
With a CAGR of 23.6% throughout the projection period, it is anticipated that the United Kingdom market would grow quickly, reaching US$ 300.8 million in 2033.
The insect protein market in South Korea is predicted to expand at a CAGR of 9.8% over the predicted time period and could reach US$ 35.5 million in 2033.
Powder is anticipated to expand at a CAGR of 15.4% over the anticipated time frame in the form category.
The insect type category’s Caterpillars sector could have a CAGR of 21.8% from 2023 to 2033.
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Competitive Landscape

With numerous large- and small-scale manufacturers present, the market is competitive and concentrated. The leading market participants include Aspire Food Group Protifarm, EntomoFarms, Chapul Cricket Protein, Jimini’s, Swarm Nutrition GmbH, EnviroFlight LLC, AgriProtein Holdings Ltd. nsect, Hexafly, Innovafeed, and Protix. To meet the demand on a global scale, these major firms are concentrating on increasing their manufacturing capacity.

Recent Development

· Partnership – To Expand Its Insect Protein Industry

Archer Daniels Midland Company and Innova Feed announced a partnership in November 2020. The partnership was formed in order to grow its insect protein business by developing a new facility in Illinois, the U.S., with a target capacity of 60,000 tonnes of insect protein annually.

Key Segments

Insect Type:

Beetles
Caterpillars
Bees, Wasps, and Ants
Grasshoppers, Locusts, and Crickets
Others
Form:

Whole Insect
Powder
Application:

Food & Beverages
Animal Nutrition
Aquafeed
Pet Food
Poultry Feed
Pharmaceuticals & Cosmetics
Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East & Africa (MEA)

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