The peanut butter market has experienced a significant growth, and is expected to grow considerably in next few years. Peanut butter is a low-calorie product with high protein content prepared from grinding of dry roasted peanuts. It serves as a substitute for the dairy butter. Peanut butter can be used as toppings for food products like bread, crackers, and many others. Peanut butter finds application in several end-user sectors such as bakery, savory and sauces, smoothies, and many more. Peanut butter is a rich source of energy that can be used as an alternative to milk butter. Apart from the energy derived from the consumption, peanut butter is a good source of protein, fiber, unsaturated fat, and minerals such as magnesium, zinc, potassium, and vitamin E.
COVID-19 Impact Analysis
- The consumers are shifting towards being health conscious and are looking for good & healthier foods with nutrients, and peanut butter accounts for one of them. So, the increase in the demand during COVID-19 can be witnessed.
- In the short term, the market demand is expected to show superior growth due to the increase in infections and reduced economic activity.
- However, the fact cannot be ignored that the spread of COVID-19 led to lockdowns and supply chain disruptions and created problems in supply of the products.
Top Impacting Factors
The nutritional value obtained from the consumption of peanut butter; the global market is slated to witness robust growth over the coming years. Moreover, the growth in population size of consumers with weight diseases and increase in disposable income of consumers in developed and developing countries are major factors expected to promote the growth of the global peanut butter.
In addition, the surge in demand for convenience food and ready-to-eat meals is a strong force fueling the industry's growth globally.
The primary factor slated to hamper the growth of the global peanut butter market is the rise in the product price in the global market. There is competition among key players in the industry on the prices of products, which is anticipated to affect the market’s growth over the coming years.
Growth in Demand for Nutritional Products
Peanut butter is a high-quality food product with several nutritional benefits associated with its consumption. It is a good source of protein, fat, fiber, mineral, and vitamins.
- The vitamin E content in peanut butter is essential for the correction of vision and muscles' orientation. It also serves as an antioxidant, giving it the ability to fight against diseases like cancer, joint inflammation, and many other diseases. Consumers are spending on health products with similar nutritional values, and this is expected to facilitate the growth of the global peanut butter market over the coming years.
- Consumers worldwide are now involved in strenuous activities, which often leads to the loss of energy. The need for energy giving food products like peanut butter is essential to help regain the lost energy.
- When individuals are stressed up after a hectic and busy day, they are eager to consume foods like convenience meals that can be prepared within a short period. Hence, this is expected to create a surge in demand for peanut butter in the global market.
Key Benefits of the Report
- This study presents the analytical depiction of the peanut butter industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the peanut butter market share.
- The current market is quantitatively analyzed to highlight the peanut butter market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed peanut butter market analysis based on competitive intensity and how the competition will take shape in coming years
Questions Answered in the Peanut Butter Market Research Report
- Which are the leading players active in the peanut butter market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is "peanut butter" market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "peanut butter" market?
Peanut Butter Market Report Highlights
By Product Type
By Distribution Channel
Key Market Players
Unilever, Hormel Foods Corporation, The J.M. Smucker Company, Procter & Gamble, Algood Food Company Inc., Boulder Brands Inc, Kraft Canada Inc