Description
Nut Butters Market—Forecast till 2028
Market Overview
As per the statistics, the global nut butters market is anticipated to witness a healthy CAGR of 4.45% to surpass a value of USD 5 Billion during the review period. Nut Butter is the spread produced using different tree nuts. These spreads are exceptionally nutritional and high in great fat substance and are utilized alternative for peanut margarine and dairy margarine spreads.
These are ready by crushing the nuts and are utilized as a healthy snack when consumed with bread. The nut butters market incorporates all the tree nut spread accessible in the market like peanut, almond, cashew, hazelnut, pistachio, and macadamias among others. The worldwide nut butters market is developing at a quick speed inferable from the rising wellbeing cognizance among customers towards smart dieting propensities.
The rising pervasiveness of lactose bigotry among the populace across the globe is prompting an expanded interest in non-dairy items. This has expanded the deals of plant-based items, for example, nut margarine. Moreover, developing shopper inclination for a veggie lover and vegan diet is driving the development of the worldwide nut butters market. In any case, hypersensitive responses related to specific nuts are probably going to hamper market development. By the by, rising interest for natural food items alongside the development of coordinated retail areas in non-industrial countries has made a shrewd market for the players in the nut butters market.
Market Segmentation
The global nut butters market is categorized into product type, category, and Distribution channel.
The product type segment is made up of peanut, almond, cashew, hazelnut, and others.
Whereas the category segment comprises conventional and organic. The distribution channel divides the global nut butters market into store-based and non-store-based.
Regional Analysis
By area, the worldwide nut butters market has been separated into North America, Europe, Asia-Pacific, and the Rest of the World.
North America represented a market portion of 38.15% of the worldwide nut butters market in 2020. The regional market is supposed to enroll a CAGR of 5.19% during the projected time frame. The rising interest for nut margarine in North America is ascribed essentially to the ascent popularity for plant-based food items, nutritional food sources, and sound eating regimens. The idea of veganism and plant-based diet interest and energy is developing across North America. As per our investigation, more than 9.5 million American populaces are eating nut margarine as of now.
The Asia-Pacific district is supposed to be an appealing provincial market for makers of nut margarine during the survey time frame. The region is projected to enlist a CAGR of 5.43% during the conjecture time frame, 2021-2028. China is the main nation-level market in the locale, representing the biggest nut butters market share, during the survey time frame
Major Players
The key players operating in the global nut butters market are Hormel Foods Corporation (US), Hain Celestial (US), Bliss Nut Butters (US), Barney & Co. California, East Wind Nut Butters (US), NuttZo Co (US), Krema Nut Company (US), Pip & Nut (UK), The J. M. Smucker Co. (US), LLC (US), Once Again Nut Butter (US).
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