Authored By: Sarah
04 Nov 2024

health benefits associated with peanut butter is driving the Peanut Butter Market

Latest News:- Peanut Butter Market: Offline is expected to lead the Distribution Channel segment during 2024-2028

Technavio analyzes that the Peanut Butter Market is expected to grow at a CAGR of 6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1309.9 million.There are various factors that contribute to the growth of the market. Peanut butter, derived from roasted peanuts, offers numerous health benefits. Rich in protein, healthy fats, and fiber, it aids in muscle growth and maintenance. Its monounsaturated and polyunsaturated fats promote heart health, while its vitamin E content supports healthy skin and eyes. Additionally, peanut butter provides essential minerals like magnesium, zinc, and iron, contributing to overall well-being. Regular consumption can help manage hunger, improve brain function, and even reduce the risk of chronic diseases.

The peanut butter market caters to various consumer trends, including plant-based diets, clean label, non-GMO, and gluten-free preferences. Major retailers, such as Tesco Plc (Tesco), Walmart Inc. (Walmart), and Target Corp. (Target), dominate the organized retail sector with dedicated sections for peanut butter products. Vendors employ strategic marketing techniques, like branding through signages and price discounts, to increase sales. Retail giants, including Walmart and Walgreens, have long offered peanut butter products on their shelves. The organized retail sector's growth is influenced by factors such as geographical presence, streamlined production and inventory management, and efficient goods transportation. Supermarkets and hypermarkets prioritize peanut butter products with separate aisles, enhancing their visibility and appeal to consumers. 

Know which region is leading the market growth by requesting a sample report

Peanut Butter Market Segmentation

  • Distribution Channel
    • Offline
    • Online
  • Geography
    • North America
    • South America
    • Europe
    • APAC
    • Middle East and Africa

Top Performing Companies

As per our research findings, here are some of the key competitors that are leading the industry

  • Algood Food Co.
  • China Kunyu Industrial Co. Ltd.
  • Dr. August Oetker KG
  • Galdisa USA Inc.
  • Hormel Foods Corp.
  • ManiLife
  • Mars Inc.
  • Nuts N More
  • NuttZo LLC
  • Peanut Butter and Co.
  • Pip and Nut Ltd.
  • Post Holdings Inc.
  • Sonya Foods Pvt. Ltd.
  • The Hain Celestial Group Inc.
  • The J.M Smucker Co.
  • The Kraft Heinz Co.
  • The Kroger Co.
  • The Leavitt Corp.
  • Unilever PLC
  • Windmill Organics Ltd.

Find out what is trending in the market by accessing the free PDF report

Research Analysis Overview

The Peanut Butter market caters to health-conscious consumers seeking low-calorie, high-protein options for quick meals. With nutritional benefits combating obesity and chronic diseases, nutrient spreads have gained popularity as high-protein dietary items. Natural, plant-based, and clean-label products, free from preservatives and labeled as Non-GMO, gluten-free, and organic, are preferred by the natural crowd. E-commerce platforms offer single-serve packaging of chocolate-flavored, honey-flavored, and natural peanut butters, making it a convenient, healthy food option for those following plant-based diets and adhering to Western food trends.

Market Research Overview

The peanut butter market falls under the broader category of nutritional spreads within the global packaged foods and meats industry. This sector encompasses vendors engaged in food processing to ensure food safety and prolong product shelf life. According to Technavio, the market's size is determined by the consolidated revenue of participating companies. It excludes equipment manufacturers and producers of packaged beverages, including alcoholic and non-alcoholic varieties. The market's expansion will be fueled by the health benefits linked to the consumption of minimally processed foods, such as peanut butter, which offer essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C. Moreover, the increasing health consciousness among consumers, coupled with the rising prevalence of obesity and chronic diseases, will further bolster market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Reasons to Consider Purchasing Technavio Market Research Report

  • Current Market Insights: Our reports offer valuable information on the latest market intelligence, competitor strategies, trends, industry changes, customer preferences, and forecasted market opportunities to aid in informed business decisions.

  • Extensive Experience: With over 20 years in market research, Technavio is a trusted name, having published more than 21,000 reports across various industries and regions.

  • High ROI Through In-Depth Research: Technavio specializes in tailored market research reports to meet specific business needs, exploring particular markets, product segments, and demographics. We are also recognized for delivering significant returns on investment through our comprehensive data collection at affordable prices.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!

Safe and Secure SSL Encrypted

Technavio

  • 2500 USD

[5 reports/month/user]

  • 5000 USD

close
  • Basic Plan [5000 USD/Year]:

    Single User
    Download 5 Reports/Month
    View 100 Reports/Month
    Add upto 3 Users at 625 USD/user

  • Teams Plan [7500 USD/Year]:

    5 User
    Download 5 Reports/Month/User
    View 100 Reports/Month/User
    Add upto 30 Users at 500 USD/user

*You can upgrade to Teams plan at Subscription page

close
  • Single:

    One user only.
    Quick & easy download option

  • Enterprise:

    Unlimited user access (Within your organization).
    Complimentary Customization Included

*For Enterprise license, go to checkout page

Technavio Get the report (PDF) sent to your email within minutes.