The global nut butters market is considered to reach a market valuation of USD 1.1 billion by the year 2022, accelerating with a CAGR of 8.7% by 2022-2032. Nut butters market sales are likely to account for 6.2% of the demand in the global butters market, which is anticipated to be valued at USD 17.8 billion by 2022 end.
The ‘nut butters’ is a generic term for any type of spreadable food products prepared from blended or crushed nuts. The nut butters have gained popularity from the last few years and the demand is increasing considerably. In initial days the peanut butter was the only substitute to the dairy butters, but over the past few years, the technological advancements and the increasing consumer awareness regarding the nut butters or plant-based butters, has steered the growth of myriad varieties of plant-based butters.
The nut butters are sourced from various nuts and seeds that are enriched with protein, essential fatty acids, fiber, and other health beneficial nutrients. These days’ various type of plant-based or nut butters are available in the global market including peanut butter, almond butter, soy butter, pistachio butter, sesame butter, and cashew butter among others etc. These plant-based butters are normally prepared by roasting, crushing/grinding and store at a low temperature. Apart from food industry, the nut butters have wider applications in the cosmetics and personal care industry that is increasing its demand in the global market.
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Rising Demand For Plant-based Butters Boosting the Overall Market Growth
The rising health concerns regarding dairy butter consumption because of its fat content has increased the demand for the alternative plant-based butters such as seeds, and nut butters. Seeds and nuts are high nutrient value foods and have been regular components of human diet since past times. Nut butters are generally consumed as spreads over various snacks and food products as they work as taste enhancers, handy to use.
The nut butters are enriched with antioxidants, and various vital vitamins (B7, C & E) and minerals such as manganese, selenium, along with phenols, flavonoids, polyphenols, and magnesium. That prevents cancer, maintains blood cholesterol level and blood pressure, and also prevents CVDs (cardiovascular diseases). Moreover, increasing incidences of dairy butter-based food allergies along with awareness regarding animal welfare have contributed to the growing trend for veganism. Apart from veganism, the vegetarian population are another key factor that is propelling the growth of nut butters market.
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Competitive Landscape
The J. M. Smucker Co. (US), Bliss Nut Butters (US), Barney & Co. California, LLC (US), Barney Butter (US), Once Again Nut Butter (US), CACHE CREEK FOODS (US), Hormel Foods Corporation (US), Hain Celestial (US), Funky Nut Company (UK), NuttZo Co (US), Krema Nut Company (US) are major players in nut butters market.
OthersThe nut butter market’s major players are playing a vital part in promoting the market’s growth. The major businesses are proposing a variety of methods and concepts to boost sales and meet the wants of all areas.
The players are concentrating their efforts on research and development. They also use strategic growth activities including expansion, joint ventures, product launches, and partnerships to boost their market position and attract a big client base.
Recent Developments
- The J.M. Smucker Company’s Santa Cruz Organic brand introduced creamy dark roasted almond butter in January 2021. The new product has a smooth texture and only two ingredients: organic dry roasted almond and sea salt.
- The Jif brand of The J.M. Smucker Company will produce squeeze creamy peanut butter in June 2020. The company’s peanut butter range was expanded with the launch of this product.
Nut Butters Market by Category
By Type, Nut Butters Market is Segmented as:
- Cashew
- Hazelnut
- Peanut
- Almond
- Others
By Category, Nut Butters Market is Segmented as:
- Organic
- Conventional
Based on End-Use Industry, Nut Butters Market is Segmented as:
- Food
- Bakery
- Confectionary
- Ice-cream Parlour
- Snacks
- Chips
- Cosmetics and Personal Care
- Hair Care
- Skin Care
- Eye-Care
- Color Cosmetics
- Toiletries
- Pharmaceuticals
- Nutraceuticals
- Dietary Supplements
- Functional food
Based on Sales Channel, Nut Butters Market is Segmented as:
- B2B
- B2C
- Store-based Retailing
- Hypermarket/Supermarket
- Specialty Stores
- Discount Stores
- Modern Grocery Stores
- Traditional Grocery Stores
- Other Store-based Retailing
- Online Retailing
- Store-based Retailing
By Region, Nut Butters Market is Segmented as:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
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Frequently Asked Questions
- How is the Outlook of the Nut Butters Market?
- What is the North America Nut Butters Market Outlook?
- At What Rate will Nut Butters Market Demand Grow in Europe?
- What Are the Key Trends Shaping the Nut Butters Market?
- At What Rate Will Nut Butters Market Demand Grow in Japan?
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