Nut Butters’ story starts with the Peanut butter. During the earlier days, peanut butter was the only nut butter option available. Peanut butter has paved out the way for other nut-based spreads and Seed based spreads to emerge in the market with a wider range of spreads to delight the consumer’s taste buds. Nut butters are said to be loaded with high in nutritious values like omega 6 essential fatty acids in an unprocessed form, healthy monounsaturated fat (which is generally found in Olive Oil), fiber which can help maintain healthy cholesterol levels. The market witnesses a significant rise in the number of players, meeting the exceeding consumers’ demand. This presages that the market is on the constant rise. Other prominent driving forces propelling the global nut butter spread market include ‘product innovation’ which is the key for emerging brands that are giving a tough competition to the already established ones in the nut butter market. The players of this highly competitive market are being innovative in their marketing strategies or the product launches.
Some nuts contain excellent quantities of Vitamin E, including hazelnuts and almonds. Owing to the above-said benefits, Nut Butters are widely preferred over other spreads available in the market. Consumers not only prefer nut butters but are also switching to Nut butter completely. Nut butter and chocolate spreads are replacing other once popular bread spreads. The nut spreads market has been witnessing an up-surging popularity and growth from the past decade comparing to the other conventional spreads such as Jam/ marmalade /Mayonnaise. While commenting upon the report, the research analyst further states that the sales for Nut Butter have increased surpassing to the jam sales which have remained stagnant in the last few years. This popularity is the key driving force of the Global Nut Butter Market.
A wide range of nut butter types and flavors is available in the nut butter segment, for instance, the flavors include like sesame, sunflower, soy nut butter, macadamia nut, coconut, almond, cashew and walnut. Other types include roasted, raw, smooth or chunky, mild flavor or slightly sweetened like sesame seed butter and tahini for those who are allergic to peanuts/ nuts can opt for sesame or sunflower seed butter. Among the regular consumers there include the health-conscious populace too; whose demand has prompted the Nut Butter Market for a Low – calorie / Low – fat Nut Butters. Global Nut Butter Market Players are also trying out the trends of attractive packaging materials, e.g., Glass Bottle; the Alternatives to glass, such as PET, makers are using durable yet ductile, affordable, and sustainable packaging solutions.
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Key Players Analysis:
Several large and small players having regional and global presence form the competitive landscape in the market. These players compete on the quality, market reach, financial resources, and pricing, whereas, innovation, brand reinforcement, and mergers & acquisitions remain the prevalent trends for the leading players operating in the global Nut Butters market. The market will witness fierce competition due to the expected extensions in product & service and product innovations.
Prominent players at the forefront of the market competition are Funky Nut Company, Krema, Betsysbest, Bliss Nut Butters, Justin’s, futtersnutbutters, Nuttzo, vtpeanutbutter, Yopeanut, and Barney Butter. Profiling them in its analysis MRFR finds out the strategies helping them to sustain their positions in the market.
Industry/ Innovation/ Related News:
August 07, 2018 – RXBAR (US), a leading global market player and the producer of the protein bars launched its new Nut Butter line for athlete’s lightweight nutrition packed fuel option. Three new nut butters offer a sweet protein-packed trail option.
March 15, 2018 – RXBAR (US), a leading global market player and the producer of the protein bars introduced a nut butter spread lineup. This was the company’s first product expansion since it was acquired by Kellogg.
The new RX Nut Butters made their debut at the Natural Products Expo West show in Anaheim, California, and are sold in three flavors — peanut butter, peanut butter honey cinnamon and almond vanilla.
The MRFR analysis is segmented into four main dynamics, for an enhanced understanding;
By sources: Edible Nuts, Vegetable Extracts and Oilseeds among others.
By Packaging: Squeeze Packs, and Jars among others.
By Applications: Table purpose, confectioneries, bakery products, and snacks among others.
By Regions: North America, Europe, APAC and Rest-of-the-World.
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North America Nut Butters Market will retain its dominance throughout the review period, growing at a phenomenal CAGR from 2017 -2027. Factors substantiating the market growth in the region include high per capita income, the presence of several production companies and the innovation they bring to their butters. Latin American countries offer ample opportunities for expansion to major players.
In Europe, the favorable instructions have steadied the consumption volume, which fell meaningfully in the past two years. Emerging economies are also gaining significant importance for the major international brands. Increased sales in Latin America and Asia have empowered producers to economize out complete sales growth.
Asia-Pacific region emerging as one of the lucrative markets for the Nut Butters will register a significant CAGR during the forecast period (2017-2027). Countries such as China, India, Japan along with the other ASEAN countries, will witness a considerable growth owing to the improving economic conditions that are increasing consumers’ purchasing power.
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