Market Overview:
In addition, the global Nut butters market is expected to rise at a CAGR of 5.04%, with a value of USD 5 billion over the estimated forecasting year of 2022-2030.
The Nut butters market is expanding rapidly and will continue to do so in the coming years. Nut butters are a general name for any spreadable food product made from blended or crushed nuts. Nut butters have become increasingly popular recently, and demand is growing rapidly. Previously, the only accessible replacement for dairy butters was peanut butter. Still, technical breakthroughs and increased consumer awareness of nut butters or plant-based butters have boosted the emergence of many plant-based butters in recent years. Demand for alternative plant-based butters such as seeds and nut butters has surged because of the expanding health concerns about dairy butter consumption due to its fat content.
The global economic shutdown caused by the coronavirus pandemic resulted in poor output and growth, causing the Nut Butters Market to stall. People are inclined toward healthier foods and snacks; therefore, the demand for Natural Cheese surged due to the need for better food and the integration of plant-based nutritious butter into the cuisine during the pandemic.
Nut butters are commonly used as spreads on various snacks and foods since they have a pleasant flavour and are easy to use. The nut butters are high in antioxidants, vitamins B7, C, and E, minerals like manganese and selenium, phenols, flavonoids, polyphenols, and magnesium. This helps prevent cancer, high blood cholesterol, high blood pressure, and cardiovascular disease. Furthermore, a surge in the occurrences of dairy butter-based food allergies and increased awareness of animal welfare issues have contributed to the rising trend of veganism. Aside from veganism, the vegetarian population is another important element pushing the demand for nut butters.
Regional Analysis:
The Nut butters market for North America is well-established, and the region's production of nut-based spreads is self-sufficient. Nut-based spreads were first introduced to the North American market in the early phases of product development and are now a staple of the American breakfast. The United States is North America's largest market, accounting for over 30% of the region's total. The growing demand for low-fat spreads is propelling the nut-based spreads market in North America. Key Nut Butters Market Players, such as Nutella, dominate the market and develop new products, such as spreads made entirely of natural ingredients, devoid of artificial sugars, gelling agents, and other chemicals.
Market Segmentation:
According to the latest market report, the global market has been segmented into four sections product type, category, distribution channel, and regional basis. The product type has divided the market into five sections: peanut, almond, cashew, hazelnut, and others. By the category section, the market has been divided into two sections conventional and organic. With the distribution channel, the global Nut Butters Market has been divided into four sections store-based, supermarkets hypermarkets, convenience stores and others and non-store based. On a regional basis, the global market has been divided into five sections Asia-Pacific, North America, South America, Europe, and Middle East Africa.
Industrial News:
The global Nut butters market is extremely fragmented and competitive, with several participants. Companies are increasing their competitiveness by upgrading their distribution networks, forming alliances, making acquisitions, expanding into new markets, and so on.
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