The global peanut butter market is estimated to grow at a CAGR of 5.69% to reach US$5,249.302 million by 2025 from US$3,766.155 million in 2019.
Peanut butter is getting increasingly popular as an easily prepared and convenient breakfast option, which is preferred by both the working-class population and the children, is growing. In addition, it is available in different varieties and flavors to appeal greater proportion younger population. Moreover, there are a lot of useful ingredients that are beneficial for leading a healthy and balanced lifestyle. Some of these include proteins, vitamins, iron, calcium among others. Thus, these factors are leading to increasing in the demand for peanut butter and are pushing the market growth over the forecast period. However, the prevalence of peanut allergies among a significant proportion of the population is impacting the market growth.
Product launches and product offerings by Major Market Players in the Peanut Butter Market
The market players are highly active in the market by offering and making available a variety of peanut butter products in order to cater to the rising demands from different distribution channels which in turn helping them improve their market position.
Some of the examples of product launches and offerings are as follows:
The North American region is estimated to hold a significant share over the forecast period owing to the rising consumption of peanut butter among the younger individuals and middle-aged individuals as a breakfast option. The Asia Pacific region is estimated to increase its share over the forecast period as a result of the varieties of peanut butter being made available and the influence of western culture.
The North American region is estimated to hold a significant share over the forecast period. This is attributable to the fact that there are many individuals including the younger and middle-aged that love consuming peanut butter with slices of bread or with beverages and smoothies as a wholesome and healthy breakfast option. Moreover, the Asia Pacific region is estimated to increase its share over the forecast period owing to the increasing influence of western culture and western food cultures, which is allowing different market payers to launch varieties of peanut butter to cater to the evolving demands from the consumers.
|Market size value in 2019||US$3,766.155 million|
|Market size value in 2025||US$5,249.302 million|
|Growth Rate||CAGR of 5.69% from 2019 to 2025|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Product, Packaging Type, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Dr. Oetker, The J.M. Smucker Company, Hormel Foods, LLC, Conagra Brands, The Hut.com Limited and MSM Retail Pvt Ltd., Pepper Health Pvt Ltd., Crazy Richard’s Peanut Butter, The Leavitt Corporation, PB2 Foods Storefront|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
The J.M. Smucker Company
Hormel Foods, LLC
The Hut.com Limited and MSM Retail Pvt Ltd.
Pepper Health Pvt Ltd.
Crazy Richard’s Peanut Butter
The Leavitt Corporation
PB2 Foods Storefront
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