Nut Butters Market Size and Trend Analysis by Product Type (Peanut, Almond, Cashew, Hazelnut, and Others), By Category (Conventional and Organic), By Distribution Channel (Store-Based [Supermarkets & Hypermarkets, Convenience Stores, and Others] and Non-Store-Based) and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2030

New York,US, May 16, 2022 (GLOBE NEWSWIRE) -- Nut Butters Market Overview:

According to a Comprehensive Research Report by Market Research Future (MRFR), “Nut Butters Market Information by Product Type, Category, Distribution Channel and Region - Forecast till 2030”, the market is estimated to acquire a size of over USD 5 Billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 4.45% during the review timeframe.

Market Synopsis:

Since nuts are a good source of unsaturated fats, protein nut butters are becoming increasingly popular. Bioactive macronutrients, high-quality fiber, vegetable protein, and vitamins are all present in these nuts (minerals, tocopherols, phytosterols, and phenolic compounds). The high quality of nutrients is increasing consumer expectations for the product. Groundnut butter is a sort of spread produced from nuts. Peanut butter, almond butter, and cashew butter are the most popular nut butters. Nut butter can be used in a variety of cuisines as a condiment or an ingredient. They are also high in protein and good fats. Smooth and chunky forms of nut butter are available.

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Market Competitive Dynamics:

The market key players of the nut butters market are:

• 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)

Market USP Covered:

Market Drivers:

The nut butter market is growing due to increased consumption of various nuts and increased awareness of the health advantages associated with the product. Because of the expanding health concerns about dairy butter consumption due to its fat content, demand for alternative plant-based butters such as seeds and nut butters has surged. Seeds and nuts are high-nutrient foods that have been part of the human diet since ancient times. Nut butters are commonly used as spreads on a variety of snacks and foods since they are tasty and convenient. Over the review period, these benefits are driving total demand. The increase in consumer demand for plant-based components is a crucial element driving the cashew nut butter market forward. Consumers are gravitating toward plant-based spreads like nut butter as the vegan trend grows. Nut butters are replacing dairy-based spreads among consumers because they are nutritious and delicious. As a result of these reasons, the worldwide nut butter market has grown. The nut butter industry has benefited from an increase in customer demand for ready-to-eat snacks. nut butter can be used as a thickening ingredient in various sauces, soups, and shakes, as well as increasing the flavor of the items. The increase in the working population has had a favorable impact on the consumption of nut butter as a nutritious snack. As a result, these factors work together to drive the nut butter market.

Because of growing awareness of the health advantages of various tree nuts and products, demand for nut butters is increasing throughout areas. Nut butter demand is also being boosted by the growing popularity of almond milk and other nut-based beverages. Because of the strong desire for taste, lack of time, and greater health consciousness among consumers, protein nut butters are in high demand. In addition, the worldwide nut butter market is predicted to increase due to the launch of new product varieties, which would provide additional chances for leading market participants over the forecast period.

Market Restraints:

Furthermore, due to fluctuating raw material prices and an increase in the incidence of tree nut allergies in recent years, the nut butters market may face constraints.

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COVID-19 Analysis:

The COVID-19 has had an impact on the general expansion of the nut butters sector. The expanding worldwide lockout has reduced all purchasing demands for the global market, resulting in a significant loss. Due to the lockdown, the global supply chain for healthy nut butters has been disrupted. The global market has lost its investors, but important market participants have not given up faith, and they have used a variety of promotional concepts and strategies to improve the global market's power. Because it is nutritious, the promotion of healthy nut butters has raised demand across the regions. With rising demand for the goods across the globe, worldwide market demand has expanded. In the present context, the nut butters market is anticipated to meet its nut butters market share during the projection perio.

Nut Butters Market Segmentation:

By Type:

The global making nut butters market has different types: cashew, hazelnut, peanut, almond, etc. Consumers can choose these types to get an appropriate product according to their demand.

By Category:

According to the category segmentation, the nut butters market is segmented based on organic and conventional. These categories are widely used across the regions based on their functionality and quality.

By Distribution Channel:

The distribution channels for the global market are store-based and non-store-based. Further, the store-based segment is sub-classified into convenience stores, hypermarkets and supermarkets, and others.

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Global Nut Butters Market Regional Analysis:

According to regional classification, the nut butters market operates in a variety of regions due to the high demand for nutritious nut butters. South America, Europe, Asia-Pacific, North America, and other portions of the world are among these regions.

For the forecast period, North America holds the greatest condiments market share among all regions. Butter and spreads are widely used in practically all meals in the region, which is propelling market expansion and expanding the nut butter market. Another factor contributing to rising demand is the existence of multiple market players in the area. Furthermore, this region has a higher need for low-fat spreads, which provides new prospects for the global market. Furthermore, the Asia Pacific region's demand for protein nut butters is rising due to increased consumption of nut butters with various snacks and increased market penetration.

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