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Peanut Butter Market Growth Size, Share, Trends & Opportunity Outlook 2028

Research Nester published a report titled “Peanut Butter Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the peanut butter marketin terms of market segmentation by type, by distribution channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
Peanut butter is a sandwich spread, utterly common across the globe especially in the US and loved by all children and adults. Owing to the latest trend of “food-in-a-hurry” and rising interest in a healthy lifestyle, the modern population base switched to peanut butter for convenient breakfast recipes. It has numerous health benefits attached to it which makes it a common sandwich spread nowadays.
The peanut butter market is anticipated to notice an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by type, distribution channel, and region. Among product types, the regular peanut butter segment is the leading segment and is expected to hold the leading market share during the forecast period owing to the ease of spreading the butter and its compatibility leading to a variety of smoothies and desserts. Among the distribution channel, supermarkets/hypermarkets segment held the prevalent share owing to greater accessibility. The online segment is expected to grow at the fastest pace on account of ease it provides to the customers while shopping especially in the current scenario of the COVID 19 outbreak.
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Regionally, the peanut butter market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The North-American region held the leading market share, followed by Europe. This growth is majorly attributed to peanut butter being the staple breakfast ingredient for this region.
The Asia-Pacific region is expected to grow at the fastest pace led by developing nations on account of surging demand for convenient & healthy food products, rising disposable income, an adaptation of western culture’s breakfast, and rising awareness particularly through social media.
Latin America and Middle East & Africa are expected to witness substantial growth in the peanut butter market. This is attributed to the rising preferences for a healthy lifestyle and readiness to spend on the consumption of peanut butter.
Growing health concerns among consumers and rising interest for quick recipes to boost the global peanut butter market
On account of rising lifestyle disorders such as obesity and diabetes, increasing awareness about wellbeing, and yet consumers’ need for tasty indulgence has shifted their attraction towards peanut butter as a nutritious alternative. This has attributed to overall market growth over the past few years.
Additionally, the increase in disposable incomes in developing economies, rising awareness about healthy choices through brand advertisements and campaigns on digital platforms, and growing numbers of distribution channels have contributed towards the market growth significantly.
However, low awareness among people in developing nations and market disruption due to COVID 19 outbreak might hamper the peanut butter market growth during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the peanut butter market which includes company profiling of The J.M. Smucker Company (NYSE: SJM), ConAgra Foods, Inc. (NYSE: CAG), Dr. Oetker India Pvt Ltd, Boulder Brands, Algood Food Company, Kraft Heinz Canada ULC, Unilever (AMS: UNA), Procter & Gamble (NYSE: PG), Hormel Foods Corporation (NYSE: HRL). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the peanut butter market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates, and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided the right guidance at the right time is available through strategic minds. Our out of box thinking helps our clients to take wise decisions to avoid future uncertainties.
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