According to Future Market Insights, business to consumer
(B2C) model has become more important in the food and beverage sector due to
social media influence and growing preference for online purchasing. Hence,
several almond butter manufacturers are turning towards B2C practices to serve customers
globally.
B2C model supports an expanded customer reach in the global
market at minimum costs. Penetration of online retail platforms such as
Walmart, Amazon, Tesco, Costco, and others are propelling the sales of almond
butter.
Consumers are extensively preferring online platforms with
zero-contact purchasing. Hence, B2C has emerged as a major strategy for players
in the almond
butter market.
The global almond butter market is expected to reach a
market valuation of US$ 643.0 Mn by the year 2021, accelerating with a CAGR of
6.7% by 2022-2032. Almond butter sales are likely to account for ~21% of the
demand in the global plant-based butter market, valued at US$ 2.9 Bn in 2021.
“Availability of numerous brands of almond butter under
one roof in supermarkets and hypermarkets are providing customers more options,
aiding the growth in global almond butter market. Over the assessment period,
the customer-centric strategy and improved shopping experience will continue to
draw consumer attention and drive market statistics.” said a lead
analyst at FMI.
Inflow of Massive Investment from Venture Capitalists
Vegan food products are booming in the global market,
prompting a slew of capital investors to invest money into vegan food
manufacturing firms. Vegan food producers are eyeing for financial back up in
order to expand their operations and cater to international clientele. In the
U.S, investments totaled US$ 747 million in 2019, up 11% from the previous
year.
Other countries, such as the U.K., Germany, Australia,
Japan, and India, are witnessing an upsurge in vegan food production
investment. For instance, in 2019, Miyoko’s Creamery, a startup based in the
United States, received $6 million in B series funding. Katjesgreenfood, a
Katjes Group affiliate, has invested in Fora, a European vegan butter business.
Growing Flexitarian Population to Boost Demand for Almond
Butter
Economists have dubbed 2019 as the vegan year, owing to the
market’s rapid rise and rising vegan product consumption. Veganism, however, is
only one pillar of the burgeoning business.
The market’s expansion is also due to the quick increase in
the number of flexitarian consumers. Traditional dairy-based butter eaters are
increasingly identifying as flexitarians, with the goal of reducing, their
consumption of animal-based goods.
Hence, some of the leading companies offering almond butter
are Olam International Ltd., Treehouse Almonds, Petrow Food Group, Barry
Callebaut AG, Big Tree Organic Farms, Harris Woolf Almonds, Rapunzel Naturkost,
All Organic Treasures GMBH, Tapia Foods, Napa Nuts, Caro Nut Company, United
Food India, Royal Nut Company, and Other.Get Valuable Insights into Almond
butter market
Future Market Insights, in its new offering, provides an
unbiased analysis of the Almond butter market presenting historical demand data
(2017-2021) and forecast statistics for the period from 2022-2032.
Almond Butter Market By Category
By Nature:
- Organic
Almond Butter
- Conventional
Almond Butter
By Form:
- Spreads
- Liquid
- Blocks
By End Use:
- Food
and Beverage Industry
- HoReCa
- Household
Retail
By Sales Channel:
- B2B
- B2C
- Modern
Trade
- Convenience
Stores
- Traditional
Grocery Stores
- Specialty
Stores
- Online
Retail
- Other
Retail Formats
By Region:
- North
America
- Latin
America
- Europe
- East
Asia
- South
Asia
- Oceania
- Middle
east and Africa
Access Full Report: https://www.futuremarketinsights.com/reports/almond-butter-market