The top-notch market players in the nut butter market are expanding their product lines and flocking the stores with numerous offerings to choose from which has fueled the demand for nut butter. For keeping themselves ahead of the curve, the market operators have tapped the changing food habits of the consumers and introduced product innovations such as salt-low sodium products. Some of the products even come with ‘no added salt’ label on their packets which has accelerated its demand due to shift towards healthy food habits.
The fat content of nut butter is one of the key restraints responsible for holding the growth of the market. However, the increasing awareness about the health benefits of nut butter in reducing cardiovascular diseases and type 2 diabetes is generating demand in the market and is expected to witness an upswing across the assessment period. Furthermore, the fat content in nut butter is significant, but it’s monounsaturated and polyunsaturated fatty acids (MUFAs and PUFAs) which are known for controlling LDL cholesterol which is favoring the market expansion. Other factors responsible for the accelerated revenue creation include the concentration of healthful nutrients, useful in weight management, etc.
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Major Key Players Review:
The key players profiled by MRFR in its latest report for drawing a deeper understanding of the market include Justin’s, Krema, Betsysbest, futtersnutbutters, Nuttzo, Yopeanut, Funky Nut Company, vtpeanutbutter, Bliss Nut Butters, and, Barney Butter among others. The prominent players incessantly endeavor to strengthen their market footholds and garner more share and control by undertaking initiatives such as innovation in flavors, expansion of product line, acquisitions & mergers, agreements, exploration of changing market trends, etc.
RXBar has added nut butter to its product line for capitalizing on demand from consumers for flavor innovation.
Hormel Foods has launched a new range of nut butter cups-dark chocolate almond butter cup and dark chocolate cashew butter cup. Both the products will be organic and are prepared from made from two of the nut butter in the core Justin’s range.
By source, the global nut butter market is segmented into edible nuts, vegetable extracts, oilseeds and others.
By packaging, the nut butter market has been segmented into squeeze packs, jars and others.
By application, the market is segmented into table purpose, confectioneries, bakery products, snacks, and others.
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Detailed Regional Analysis:
By region, the global nut butter market is segmented into North America, Europe, Asia, and Rest of the World (ROW). Europe market capitalizes on the changing food habits of the consumers and has captured maximum market size globally. The region will persistently exercise its dominance over the next couple of years. The market in North America will witness growth and expansion due to the concentration of major market players who are striving to multiply their product offerings for revenue generation. The region holds the second spot in terms of market share and control. Asia Pacific is one of the largest markets in the world and will observe an upswing across the projection period. The growing inclination towards westernization is influencing the demand for nut butter in this region. Other factors complementing the market expansion are increased disposable income, rising awareness about the health benefits, entry of market players in the regional market, etc. Rest of the World market will demonstrate a rise in the market share due to large-scale penetration in the market by national, international, and local players.
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