Nut Butters Market Sales to Top USD 5.04 Billion in Revenues by 2030 at a CAGR of 4.50%
Research Reports
Aug 20, 2023
Nut Butters Market Insights:
According to MRFR analysis, the global nut butters market is expected to register a CAGR of~4.50% from 2022 to 2030 and hold a value of over USD 5.04 billion by 2030.
The Global Nut Butters Market refers to the worldwide industry of producing and selling various types of nut-based spreads, such as peanut butter, almond butter, cashew butter, and other similar products. This market includes both natural and processed nut butters, which can be sold through various distribution channels, including supermarkets, health food stores, online retailers, and more. The demand for nut butters has been growing steadily due to their nutritional value, convenience, and versatility in cooking and baking. The market is highly competitive and constantly evolving, with new players and innovations emerging regularly.
The COVID-19 pandemic had a significant impact on the global nut butters market, people staying at home and snacking more, the demand for nut butters has increased significantly. Many consumers have turned to nut butters as a healthy and filling snack option, which has led to a surge in sales.
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Regional Analysis:
North America is currently the largest region for the global nut butters market. This is due to a combination of factors such as increasing health consciousness, a growing trend towards plant-based diets, and the availability of a wide range of nut butter products in the region. The United States is the largest market for nut butters in North America, with consumers showing a preference for peanut butter and almond butter in particular.
Europe is the second-largest market for nut butters, with countries such as the United Kingdom, Germany, and France leading the way. The region is experiencing strong growth in the organic and natural nut butter segments, as consumers become more health-conscious and look for products with fewer additives.
Market Segmentation:
The global nut butters market has been segmented into type, segment and end-user.
Based on the type, the market has been segmented into peanut, almond, cashew and hazelnut.
Based on the segment, the market has been segmented into conventional and organic.
Based on the end-user, the market has been segmented into store-based and non-store-based.
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Key Players:
Some of the key market players are Hormel Foods Corporation, Hain Celestial, The J. M. Smucker Co., Bliss Nut Butter, Barney & Co. California LLC, NuttZo Co, Krema Nut Company, Pip & Nut, Once Again, Nut Butter
Here are some of the key trends in the nut butter market:
- The increasing demand for organic and natural nut butters. Consumers are increasingly looking for organic and natural products, and this is reflected in the nut butter market.
- The growing popularity of flavored nut butters. Flavored nut butters are gaining popularity among consumers who are looking for a more exciting taste experience.
- The rising demand for nut butters in developing countries. The disposable incomes in developing countries are rising, which is leading to an increase in the demand for premium products such as nut butters.
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