Nut butters can be prepared using several nuts such as almond, peanuts, cashews, seeds (pumpkins, sesame, etc). Nut butters. Among all the varieties, peanut butter is most widely used. However, growing incidences of peanut allergy, consumers have shifted to other alternatives owing to rising awareness level about the product availability. In addition, nut butter contains essential nutrients such as fiber, protein, vitamins and minerals, and healthy fats, among others. These healthy benefits of nut butters are likely to give a push to market growth. The product can help in improving cholesterol level, aid in weight loss, and can help in stabilizing blood sugar level.
In addition, growing demand for clean label, natural and organic food products, provides opportunity to the manufacturers for product diversification which will support them in capitalizing on the opportunity. Furthermore, availability of the product in attractive and convenient format such as on-the-go squeeze pack has attracted consumers’ attention. Also, the key manufacturers have been active with launching “free-from” nut butters to cater to the needs of health conscious consumers which helped the companies in increasing its consumer base.
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Major Key Players
The key manufacturers are also opting for strategic acquisition to expand geographical reach and strengthen product portfolio. For instance, Kellog Co, acquired RXBAR which is planning to nut butters to capitalize on the growing demand. Customizing product as per local taste and preferences and keeping with the changing consumers preferences will support manufacturers in augmenting their profit margin.
The key players profiled in Global Nut Butters Market report include- Vermont Peanut Butter (USA), NuttZo Co (USA), Hormel Foods (USA), Funky Nut Company (UK), Futter’s Nut Butters (USA), Krema Nut Co (USA), Bliss Nut Butters (USA), Betsy’s Best (USA), Barney Butter (USA) and Saratoga Peanut Butter Co (USA), and The JM Smucker Company (USA) among many others.
The Global Nut Butters Market is segmented into Source, Packaging, Application, and by Region
On the Basis of Application- Table Purpose, Bakery Products, Confectioneries, Snacks and others
On the Basis of Region- North America, Europe, Asia-Pacific and ROW
Health benefits associated with the consumption of nut butters is driving the market in the region. Asia-Pacific market is the fastest growing segment owing to increasing demand for the product. Increasing awareness about the availability of the product owing to aggressive promotional activities has fuelled the market growth in the region.
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