Nut Butter Market Analysis, Share, Industry & Revenue [2031]
Nut Butter Market Analysis, Share, Industry & Revenue [2031]
Segments - Nut Butter Market by Product Types (Cashew, Almond, Peanut, Soy, Hazelnut, and Others), Categories (Conventional and Organic), End-users (Foods [Chips, Confectionary, Bakery, Snacks, and Ice-cream Parlor], Cosmetics & Personal Care [Skin Care, Hair Care, Eye Care, Color Cosmetics, and Toiletries], Nutraceuticals [Functional Food and Dietary Supplements] and Pharmaceuticals), Distribution Channels (Store-based [Convenience Stores, Supermarkets & Hypermarkets, and Others] and Online-based), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :FB-4216
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Report Description
The global nut butter market size was valued at USD 3.02 Billion in 2022 and is expected to surpass USD 4.41 Billion by 2031 , expanding at a CAGR of 4.3% during the forecast period, 2023–2031. The growth of the market is attributed to the wide applications of the products especially in the food and cosmetic industry along with high availability of the products in supermarkets & hypermarkets.
Nut butters are mainly made from various nuts and seeds that contain a high amount of nutrients such as essential fatty acids, fiber, and protein. Blended and crushed nuts are key sources of nut butters and are widely used as spread food products owing to their various health benefits. Almond butter, peanut butter, pistachio butter, cashew butter, soy butter, and sesame butter are some of the most popular types of nut butters and are widely used in various applications across several industries including cosmetic, pharmaceutical, and nutraceutical products.
Consumption of nut betters help in preventing cancer and other chronic disease such as cardiovascular diseases as well as reducing cholesterol level and blood pressure. Over the years, the peanut butter market is expanding rapidly due to the wide introduction of plant-based butters. These plant-based butters are usually prepared by crushing several types of seeds, which are needed to be stored at a low temperature. The COVID-19 crisis had made people aware about the benefits of consumption of healthy food products to boost their immunity and prevent from diseases. As result of high consumption of dietary supplements and functional foods, the pandemic had accelerated the market expansion.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing number of health-conscious population globally and rising demand for healthy snacks, chips, and bakery products are key drivers of the market.
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Wide introduction of organic-based nut butter spread and high availability of plant-based butters are likely to push the market in the coming years.
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Rising consumption of food supplements and increasing number of the vegetarian population are projected to boost the market during the forecast period.
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Side effects such as butter-based food allergies act as the main challenge that can hinder the market during the forecast period.
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Rapid growth of the pharmaceutical and nutraceuticals industry is creating several growth opportunities for the market.
Scope of the Report
The report on the global nut butter market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Nut Butter Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Product Types (Cashew, Almond, Peanut, Soy, Hazelnut, and Others), Categories (Conventional and Organic), End-users (Foods [Chips, Confectionary, Bakery, Snacks, and Ice-cream Parlor], Cosmetics & Personal Care [Skin Care, Hair Care, Eye Care, Color Cosmetics, and Toiletries], Nutraceuticals [Functional Food and Dietary Supplements] and Pharmaceuticals), and Distribution Channels (Store-based [Convenience Stores, Supermarkets & Hypermarkets, and Others] and Online-based) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
CACHE CREEK FOODS; The J. M. Smucker Co.; Barney Butter; Hormel Foods Corporation; Nuts’N More; Funky Nut Company; Justin's Nuttzo; Bliss Nut Butters; Blue Mountain Organics; NuttZo Co.; Krema Nut Company; Once Again Nut Butter; Funky Nut Company; Futter’s Nut Butters; Eliot’s Adult Nut Butters; and Big Spoon Roasters. |
Market Segment Insights
High consumption drives the peanut segment
Based on product types, the global nut butter market is divided into cashew, almond, peanut, soy, hazelnut, and others. The peanut segment accounted for a key market share in 2021 and is expected to expand at a rapid pace during the forecast period owing to rising consumption of peanut butters for several health benefits. Wide introduction of plant-based butters presents another key factor pushing the segment.
Organic segment to register a considerable CAGR
On the basis of categories, the market is bifurcated into conventional and organic. The organic segment is a fast-growing domain and is anticipated to hold a key share of the market in the coming years owing to the rising awareness regarding the health benefits of organic food consumption. On the other hand, the conventional segment is likely to exhibit a high growth rate due to wide availability of raw-materials for conventional food products.
Rising consumption of spread and high protein food products fuels the foods segment
In terms of end-users, the global nut butter market is segmented into foods, cosmetics & personal care, nutraceuticals, and pharmaceuticals. The foods segment is further divided into chips confectionary, bakery, snacks, and ice-cream parlor. The cosmetics & personal care segment is sub-classified as skin care, hair care, eye care, color cosmetics, and toiletries while the nutraceuticals segment is further bifurcated into functional food and dietary supplements. The foods segment is projected to register a considerable CAGR during the forecast period due to the rising consumption of spread and high protein food products.
Online-based segment is a fast-growing domain
Based on distribution channels, the market is categorized as store-based and online-based. The store-based segment is further segmented into convenience stores, supermarkets & hypermarkets, and others. The online-based segment is a fast-growing domain and is anticipated to hold a large market share during the forecast period owing to wide expansion of ecommerce platforms selling nut butter foods and pharmaceutical products. Heavy discount offers and door-step delivery service are key factors that influence the consumers’ preference for shopping online.
North America to constitute a key market share
In terms of regions, the global nut butter market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a dominant market share in 2021 and is expected to constitute a key share of the market during the projected period owing to wide consumption of nut butters as spread for breakfast items. Moreover, the presence of a large number of health-conscious population and rising demand for diet supplementary products are other key factors boosting the regional market.
Segments
The global nut butter market has been segmented on the basis of
Product Types
- Cashew
- Almond
- Peanut
- Soy
- Hazelnut
- Others
Categories
- Conventional
- Organic
End-users
- Foods
- Chips
- Confectionary
- Bakery
- Snacks
- Ice-cream Parlor
- Cosmetics & Personal Care
- Skin Care
- Hair Care
- Eye Care
- Color Cosmetics
- Toiletries
- Nutraceuticals
- Functional Food
- Dietary Supplements
- Pharmaceuticals
Distribution Channels
- Store-based
- Convenience Stores
- Supermarkets & Hypermarkets
- Others
- Online-based
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- CACHE CREEK FOODS
- The J. M. Smucker Co.
- Barney Butter
- Hormel Foods Corporation
- Nuts’N More
- Funky Nut Company
- Justin's Nuttzo
- Bliss Nut Butters
- Blue Mountain Organics
- NuttZo Co.
- Krema Nut Company
- Once Again Nut Butter
- Funky Nut Company
- Futter’s Nut Butters
- Eliot’s Adult Nut Butters
- Big Spoon Roasters
Competitive Landscape
Key players competing in the global nut butter market are CACHE CREEK FOODS; The J. M. Smucker Co.; Barney Butter; Hormel Foods Corporation; Nuts’N More; Funky Nut Company; Justin's Nuttzo; Bliss Nut Butters; Blue Mountain Organics; NuttZo Co.; Krema Nut Company; Once Again Nut Butter; Funky Nut Company; Futter’s Nut Butters; Eliot’s Adult Nut Butters; and Big Spoon Roasters. Some of these players have adopted a series of business development strategies including merger and acquisition, entering into partnership and collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
Frequently Asked Questions
The global nut butter market size was valued at USD 3.02 billion in 2022 and is expected to surpass USD 4.41 billion by 2031.
The global nut butter market is expected to expand at CAGR of 4.3% during the forecast period.
The key drivers of the market include the wide applications of the products especially in the food and cosmetic industry along with high availability of the products in supermarkets & hypermarkets.
The peanut segment accounted for a key market share in 2021 and is expected to likely to dominate the market during the forecast period.
The key players of the market are CACHE CREEK FOODS; The J. M. Smucker Co.; Barney Butter; Hormel Foods Corporation; Nuts’N More; Funky Nut Company; Justin's Nuttzo; Bliss Nut Butters; Blue Mountain Organics; NuttZo Co.; Krema Nut Company; and Once Again Nut Butter.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Nut Butter Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Nut Butter Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Nut Butter Market - Supply Chain
4.5. Global Nut Butter Market Forecast
4.5.1. Nut Butter Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Nut Butter Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Nut Butter Market Absolute $ Opportunity
5. Global Nut Butter Market Analysis and Forecast by End Users
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by End Users
5.2.2. Y-o-Y Growth Projections by End Users
5.3. Nut Butter Market Size and Volume Forecast by End Users
5.3.1. Foods
5.3.2. Cosmetics & Personal Care
5.3.3. Nutraceuticals
5.3.4. Pharmaceuticals
5.4. Absolute $ Opportunity Assessment by End Users
5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Nut Butter Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Nut Butter Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Nut Butter Demand Share Forecast, 2019-2026
7. North America Nut Butter Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Nut Butter Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Nut Butter Market Size and Volume Forecast by End Users
7.4.1. Foods
7.4.2. Cosmetics & Personal Care
7.4.3. Nutraceuticals
7.4.4. Pharmaceuticals
7.5. Basis Point Share (BPS) Analysis by End Users
7.6. Y-o-Y Growth Projections by End Users
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Nut Butter Demand Share Forecast, 2019-2026
8. Latin America Nut Butter Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Nut Butter Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Nut Butter Market Size and Volume Forecast by End Users
8.4.1. Foods
8.4.2. Cosmetics & Personal Care
8.4.3. Nutraceuticals
8.4.4. Pharmaceuticals
8.5. Basis Point Share (BPS) Analysis by End Users
8.6. Y-o-Y Growth Projections by End Users
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Nut Butter Demand Share Forecast, 2019-2026
9. Europe Nut Butter Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Nut Butter Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Nut Butter Market Size and Volume Forecast by End Users
9.4.1. Foods
9.4.2. Cosmetics & Personal Care
9.4.3. Nutraceuticals
9.4.4. Pharmaceuticals
9.5. Basis Point Share (BPS) Analysis by End Users
9.6. Y-o-Y Growth Projections by End Users
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Nut Butter Demand Share Forecast, 2019-2026
10. Asia Pacific Nut Butter Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Nut Butter Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Nut Butter Market Size and Volume Forecast by End Users
10.4.1. Foods
10.4.2. Cosmetics & Personal Care
10.4.3. Nutraceuticals
10.4.4. Pharmaceuticals
10.5. Basis Point Share (BPS) Analysis by End Users
10.6. Y-o-Y Growth Projections by End Users
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Nut Butter Demand Share Forecast, 2019-2026
11. Middle East & Africa Nut Butter Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Nut Butter Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Nut Butter Market Size and Volume Forecast by End Users
11.4.1. Foods
11.4.2. Cosmetics & Personal Care
11.4.3. Nutraceuticals
11.4.4. Pharmaceuticals
11.5. Basis Point Share (BPS) Analysis by End Users
11.6. Y-o-Y Growth Projections by End Users
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Nut Butter Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Nut Butter Market: Market Share Analysis
12.2. Nut Butter Distributors and Customers
12.3. Nut Butter Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. CACHE CREEK FOODS
12.4.2. The J. M. Smucker Co.
12.4.3. Barney Butter
12.4.4. Hormel Foods Corporation
12.4.5. Nuts’N More
12.4.6. Funky Nut Company
12.4.7. Justin's Nuttzo
12.4.8. Bliss Nut Butters
Methodology
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