The nut butters industry is undergoing a phase of boom currently, and Market Research Future (MRFR) perceives the growth of the global nut butters market to be healthy and capture a steady CAGR over the forecast period of 2016-2027.
Nut butters such as almond, macadamia, coconut, cashew, and walnut have been able to attract the attention of health-conscious consumers. Consumers have exhibited a keen interest towards spreads and butter which are devoid of salt, sugar, preservatives, and additives. Consumers essentially are progressively looking for healthier alternatives to artificial colors and preservatives which is a prime factor fostering the growth of the global nut butters market.
Growing awareness regarding the benefits associated with nut butter has encouraged consumers to incorporate sources of protein in diet has been the primary factor boosting the growth of the global nut butters market. Furthermore, spreading awareness regarding the efficacy of nut butters in cardiovascular diseases and type 2 diabetes is generating massive demand for the global nut butters market.
The growing trend of veganism has urged consumers to look for non-animal source of protein, and nut butters act as the perfect healthy and vegan alternative. Encouraged by the popularity of nut butters, manufacturers are introducing novel varieties of nut butters to tap the massive base of health-conscious consumers which is expected to create favorable opportunities for the global nut butters market.
On the contrary, the growth of the market might be hindered by increasing the prevalence of peanut allergies across the globe. However, despite a rise in the number of peanut allergic population, such a population represent only a small portion of the overall consumer base. Nut butter manufacturers are progressively introducing options which can be consumed by consumers with allergies. Also, higher price point of nut butters may restrict the growth of the market over the forecast period.
Segmentation
The global nut butter market has been segmented based on source, packaging, and application.
By source, the global futter nut butters market has been segmented into edible nuts, vegetable extracts, oilseeds, and others.
By packaging, the global nut butters market has been segmented into squeeze packs, jars and others.
By application, the nut butters market has been segmented into table purpose, confectioneries, bakery products, snacks, and others.
Regional Analysis
By region, the global nut butters market share has been segmented into Europe, Asia Pacific (APAC), North America, and the Rest of the World (RoW).
Europe is spearheading the global nut butters market and is likely to retain its dominance over the forecast period. Change in food habits and surging awareness regarding the consumption of healthy food items substantiates the growth of the Europe market.
North America is an important growth pocket and is expected to exhibit rapid growth over the forecast period. The existence of major market players in the region fares well for the nut butters market in North America. Additionally, the consumption of nut butters and spreads is very common in the food habits of the region.
APAC market is expected to showcase massive growth over the forecast period. Surging western influence on the food habits of the region has spurred the demand for nut butters. Market players entering the region, increasing disposable income, and growing awareness about health and wellness is driving the APAC market.
Competitive Landscape
The key players in the global nut butters market include Barney Butter, Bliss Nut Butters, Betsysbest, Krema, vtpeanutbutter, Justin's, Funky Nut Company, futtersnutbutters, Yopeanut, and Nuttzo.
Industry Updates
- In November 2018, KIND, a New York-based company dealing in healthy snacks, launched a new nut butter bar which is also gluten-free. The new bar is available in two varieties - honey almond butter and chocolate peanut butter and contains only 170 calories.
- In September 2018, Wild Friends Foods, an innovative clean-food company that makes nut and seed butters and nut butter based breakfast items, launched a new line if nut butters. The Collagen nut butters is a unique product made with protein grass-fed collagen peptides. The product is available in three variants:Vanilla Collagen Almond Butter, Chocolate Collagen Peanut Butter, and Vanilla Collagen Peanut Butter. Each serving of the collagen nut butter provides 8-9 grams of protein and only 1 gram of added sugar.
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