Nut Butters Market Outlook Analysis and Growth by Forecast 2030
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.
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.
The Nut
Butters Market Outlook 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.
Regional
Analysis:
The North
America Nut Butters Market Insights
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. Major companies, 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 Nut Butters Market Outlook 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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