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.
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.
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
By Region, Nut Butters Market is Segmented as:
- North
America
- Latin
America
- Europe
- Middle
East and Africa
- East
Asia
- South
Asia
- Oceania
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?
Read More: https://www.futuremarketinsights.com/reports/nut-butters-market