Peanut Butter Market, By Product Type (Regular Peanut Butter, Low Sodium Peanut Butter, Low Sugar Peanut Butter, and Others), By Distribution Channel (Hypermarket, Supermarket, Convenience Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2030

Peanut butter is food paste which is made from ground dry roasted peanuts. Peanut butter a low-calorie product with high protein content. Peanut butter is not only used in various types of breakfast dishes but also in sweets. This includes pastries, sandwiches, chocolate bars, and ice-creams. Peanut butter has high nutritional value since it contains compounds such as vitamin-E, vitamin B6, magnesium, and potassium. It also assists to reduce risk of autoimmune and chronic diseases such as celiac disease, heart diseases, and diabetes. Salt and flavors or sweeteners are primarily added to the peanut butter, to change as well as enhance its taste. Peanut butter is widely consumed in confectioneries and bakeries in order to use in the products such as cakes, cookies, frosting, salads, salad dressing, cupcakes, pies, stuffed celery, muffins, and biscuits. Peanut Butter Market accounted for US$ 3.89 billion in 2020 and is estimated to be US$ 22.40 billion by 2030 and is anticipated to register a CAGR of 10.40%.

Rising demand for nutritious products

Rising demand for nutritious products and convenient food across the globe is major factor driving growth of the peanut butter market. In addition, increasing demand for low calorie healthy food owing to emergence of hectic life schedule is expected to propel growth of the peanut butter market in the near future.

Availability of variety of peanut product

Furthermore, availability of variety of peanut butter flavored cookies, shakes, and chocolates across the globe are anticipated to boost the peanut butter market over the forecast period. Moreover, growing awareness regarding consumption of peanut butter among the individuals in order to reduce risk of chronic disease such as Alzheimer's is expected to support growth of the peanut butter market over the forecast period. However, lack of awareness about health benefits of peanut butter in emerging economies could restrain growth of the peanut butter market in the near future.

Unstable production of peanut

Unstable production of peanut is another factor hampering growth of the peanut butter market.  Peanut butter is useful in moisturizing dry skin conditions owing to which they are used in the cosmetic industry. This property of peanut butter can create lucrative growth opportunities for the key players operating in the peanut butter market.

Peanut butter market on the basis of product type, distribution channel, and region.

On the basis of product type, the peanut butter market is segmented into regular peanut butter, low sodium peanut butter, low sugar peanut butter, and others. Other product type is sub segmented as natural, crunchy, and low fat. Regular peanut butter segment is expected to contribute major revenue share in the peanut butter market, this can be attributed to its cost effectiveness and increasing consumption of regular peanut butter across the globe. On the basis of distribution channel, the global market is categorized into hypermarket, supermarket, convenience stores, and others. Supermarkets segment is expected to contribute major revenue share in the peanut butter market, since it offers various snacks which uses peanut butter as a major ingredient.

Regional Insights:

For detailed understanding of market dynamics, the peanut butter market is analyzed across key regions viz North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Each of these regions is analyzed on the basis of market findings across major countries in these regions for a macro-level understanding of the global market. The market in North America is expected to account for major revenue share in the peanut butter market, in 2019, followed by other regions. This is owing to availability of various brands of peanut butter in the countries in the region. In addition, high demand and consumption of peanut butter among individuals in the countries especially in the U.S. and Canada is supporting growth of the North America peanut butter market. Europe peanut butter market accounted for second-highest market share in the global market, due to increasing demand for low calorie food in the countries in the region. Asia Pacific is expected to register significant growth rate in terms of revenue, owing to growing demand for ready to eat food in emerging economies such as India and China over the forecast period.

Detailed Segmentation:

Peanut Butter Market, By Region:

• North America
  • Middle East & Africa
    • Middle East & Africa Peanut Butter Market, By Product Type
    • Middle East & Africa Peanut Butter Market, By Distribution Channel
    • Middle East & Africa Peanut Butter Market, By Country
      • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • Latin America Peanut Butter Market, By Product Type
    • Latin America Peanut Butter Market, By Distribution Channel
    • Latin America Peanut Butter Market, By Country
      • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • Asia Pacific Peanut Butter Market, By Product Type
    • Asia Pacific Peanut Butter Market, By Distribution Channel
    • Asia Pacific Peanut Butter Market, By Country
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • North America Peanut Butter Market, By Product Type
  • North America Peanut Butter Market, By Distribution Channel
  • North America Peanut Butter Market, By Country
    • Canada
    • Europe
  • Europe Peanut Butter Market, By Product Type
  • Europe Peanut Butter Market, By Distribution Channel
  • Europe Peanut Butter Market, By Country
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe

Some of the prominent players operating in the peanut butter market include The Procter & Gamble Company, Unilever N.V., The J.M. Smucker Company, Hormel Foods Corporation, Boulder Brands Inc., Kraft Canada Inc., Algood Food Company, Inc., Monsanto Company, ConAgra Foods, Inc., and The Hershey Company. Advancements in the product as well as in manufacturing process, product launches, and strategic partnerships are some trends witnessed in the peanut butter market. In 2018, for instance, Unilever N.V. launched Jif PowerUps peanut butter snacks and Pup-Peroni jerky bites.

• The Procter & Gamble Company
  • • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
• Unilever N.V.
  • • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
• The J.M. Smucker Company
  • • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
• Hormel Foods Corporation
  • • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
• Boulder Brands Inc.
  • • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
• Kraft Canada Inc.
  • • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
• Algood Food Company, Inc.
  • • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
• Monsanto Company
  • • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
• ConAgra Foods, Inc.
  • • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
• The Hershey Company
  • • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance