Market Scenario:
A nut butter is a spreadable foodstuff that is made by grinding nuts into a paste. The result has a high-fat content and also can be spread similar to a true butter. It includes hazelnut butter, cashew butter, macadamia nut butter, pecan butter, peanut butter, pistachio butter, almond butter, and walnut butter. Seed and nut butter contains a high content of fiber, protein, and essential fatty acids that can be used to replace margarine or butter on toast or bread. The macadamia, almond, cashew, peanut, pecan, walnut and pistachio are not considered as true nuts in a botanical sense.
On the other hand, because they are considered as nuts in a culinary sense, their crushed spreads are known as nut butter. Similar spreads can also be made from seeds not considered nuts in a culinary sense such as Sesame seed butter, Soybean butter, Pumpkin seed butter, and Sunflower seed butter. Consumers are continuously looking for healthy snacks made from natural ingredients. Hazelnut butter brings immense opportunities to assist product developers who are looking for protein-rich foods from a plant-based source. Due to the use of natural nut butter, companies can offer much-demanded clean label to the consumers.
Hazelnuts contribute significantly to the nut and chocolate spreads taking over the market owing to the continuous promise of growth. Consumers seek healthy and natural varieties of nut-based spreads while still making room to indulge. Nowadays, it is finding its way towards bakes, cakes, and crackers. Moreover, it is becoming part of an indulgent and healthy lifestyle. The success of sweet spreads such as Nutella has attracted brands both within and outside of the segment to join the chocolate-hazelnut spread craze. Future growth of the category will rely on product innovation, expanded usage occasions, and a focus on new audiences, including ethnic consumers.
Rising consumer demand for bakery and confectionery products including chocolate, cakes, muffins, and others are influencing the growth of nut butter market positively. Also, due to these reasons, several organizations are expanding their market. Globally, the market for nut butters market has been increasing due to the increase in demand for convenience food products.
Major restraint of the overall market is the availability of nut butter at relatively competitive prices coupled with fluctuating production of various nuts, especially in India. The demand for nut butters have boosted, owing to the advancements in food processing as well as changing food consumption patterns, and hence it is predicted to grow in the forecast period.
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Regional Analysis:
The global nut butter market is segmented on the basis of the region covering North America, Asia Pacific, Europe, and LAMEA. Europe is expected to dominate the market owing to the largest market share followed by North America and is expected to grow over the forecast period. Asia-Pacific is the other major markets for Global Nut Butters and is anticipated to grow at a considerable rate owing to the increasing demand for several food products in the countries such as India, China, and Japan.
Key Players:
• Futters Nut Butters
• Vermont Peanut Butter Co.
• Justin’s LLC
• Funky Nut Company
• JAGRMA, LLC
• Healthy Concepts Food Company, LLC.
• Krema Nut Company
• Bliss Nut Butters
• Barney Butter
• Saratoga Peanut Butter Company, and others
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Nut Butters Market Segmentation:
By Source:
• Edible Nuts
• Vegetable Extracts
• Oilseeds
• Others
By Packaging:
• Squeeze Packs
• Jars
• Others
By Application:
• Table Purpose
• Confectioneries
• Bakery Products
• Snacks
• Others
By Region:
• North America
o The U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o Russia
o France
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o Australia
o Rest of Asia Pacific
• LAMEA
o Brazil
o South Africa
o Saudi Arabia
o Rest of LAMEA
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