About Nut Butters
Nut butters are spreads made by grinding nuts into a paste-like consistency. They are rich in healthy fats, protein, vitamins, and minerals. The introduction of new product variants is estimated to open new opportunities for market players in the nut butter market. Moreover, changing consumer preferences for food choices, increasing consumption of ready-to-eat food, rising demand from developing countries, and increasing focus on advertising and marketing activities by companies are expected to fuel the product demand during the forecasted period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Manufacturer introduces innovative flavors and blends that stand out in the market, catering to diverse consumer preferences. Companies also offer nut butter with added nutrients, superfoods, or functional ingredients, highlighting specific health benefits. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Nut Butters market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Hormel Foods Corporation (United States), Hain Celestial (United States), The J. M. Smucker Co. (United States), Bliss Nut Butters (United States), Barney & Co. California, LLC (United States), Funky Nut Company (United Kingdom), NuttZo Co (United States), Krema Nut Company (United States) and Barney Butter (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Once Again Nut Butter (United States) and CACHE CREEK FOODS (United States).
Segmentation Overview
AMA Research has segmented the market of Global Nut Butters market by Type (Almond Butter, Cashew Butter, Hazelnut Butter, Macadamia Nut Butter, Peanut Butter, Pecan Butter, Pistachio Butter and Walnut Butter), Application (Confectioneries, Bakery Products and Snacks) and Region.
On the basis of geography, the market of Nut Butters has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Retail Stores will boost the Nut Butters market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing a wide array of flavored nut butter to cater to diverse consumer tastes. Varieties such as chocolate-infused, spicy, honey-roasted, and exotic fruit-flavored nut butter are gaining popularity due to their unique taste profiles
Market Growth Drivers:
Increased awareness of the health benefits associated with nuts has driven the demand for nut-based products. Nut butters are perceived as nutritious due to their high protein, healthy fats, vitamins, and minerals content, appealing to health-conscious consumers.
Challenges:
Fluctuations in nut prices due to factors such as weather conditions, crop yields, and global demand-supply dynamics can impact production costs and subsequently affect pricing and profit margins for nut butter manufacturers
Restraints:
Stringent Government Regulations Regarding Food Products and Fluctuating Raw Material Prizes
Opportunities:
Rising Demand from the Grocery and Foodservice Sector and Increasing Disposable Income in Low and Middle-Income Countries Provides Opportunity to the Market
In June 2019, Justin's manufacturer of high-quality nut butter launched organic nut butter in two variants including cashew butter-covered cashews and almond butter-covered almonds.
In the United States, for example, the Food and Drug Administration (FDA) oversees the regulation of nut butter products. The FDA sets guidelines and standards for food manufacturing, packaging, labeling, and ingredient safety. They ensure that nut butter manufacturers comply with regulations related to hygiene, food additives, allergen labeling, and proper manufacturing practices.
Key Target Audience
Nut Butter Manufacturers, Nut Butter Distributors, Research and Development Institutes, Potential Investors, Raw Material Suppliers, Nationalized Laboratory and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.