Peanut butter is a low-calorie item with high protein content ready from crushing of dry broiled peanuts. It fills in as a substitute for the dairy spread.
The peanut butter market was estimated to be worth USD 5.0 billion in 2022 and is anticipated to increase at a CAGR of 4.7% from 2022 to 2032, when it is expected to be worth USD 7.9 billion.
According to recently released market analysis data from Future Market Insights, the demand for peanut butter worldwide is anticipated to increase by 3.5% Y-o-Y in 2022.
Peanut butter can be utilized as garnishes for food items like bread, saltines, and numerous others. Peanut butter finds application in a few end-client areas like pastry shop, exquisite and sauces, smoothies, and some more.
Peanut butter is a rich wellspring of energy that can be utilized as a choice to drain spread. Aside the energy got from the utilization, peanut butter is likewise a decent wellspring of protein, fiber, unsaturated fat and minerals like magnesium, zinc, potassium, and vitamin E.
With these healthy benefit got from the utilization of peanut butter, the worldwide market is scheduled to observe hearty development over the gauge period. Additionally, the developing populace size of purchasers with weight illnesses and expanding discretionary cashflow of buyers in created and agricultural nations are central point expected to advance the development of the worldwide peanut butter during the estimate time frame and repercussions.
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Moreover, the flood popular for comfort food and prepared to-eat feasts is areas of strength for a filling the business' development worldwide.
Peanut Butter Market Driven by Purchasers' Developing Interest for Dietary Items
Peanut butter is an excellent food item with a few wholesome advantages related with its utilization. It is a decent wellspring of protein, fat, fiber, mineral, and nutrients.
The vitamin E content in peanut butter is fundamental for the remedy of vision and muscles' direction. It additionally fills in as a cell reinforcement, empowering it to battle against illnesses like malignant growth, joint aggravation, and numerous different sicknesses. Buyers are enjoying on solid items with comparable dietary benefits, and this is supposed to work with the development of the worldwide peanut butter market over the gauge period.
Changing Lifestyle
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.
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Peanut Butter Market Restraint
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 will affect the market’s growth over the forecast per
Peanut Butter Market: Region-wise Analysis
North America is slated to be in dominance over the forecast period in terms of market revenue, with the United States acting as the growth driver within the region.
The United States will have the highest contribution of the total market revenue due to the rise in consumers’ disposable income and the surge in demand for nutritional products.
However, the Asia Pacific region is slated to be the fastest-growing market for the global peanut butter market within emerging economy nations like China and India, acting as drivers within the region.
With the rise in per capita consumption of peanut butter among individuals in the Asia Pacific, the peanut butter market is expected to register significant growth during the forecast period and aftermath.
Peanut Butter Market: Competitive Landscape
Region-wise Analysis
Report Highlights
The research report presents a comprehensive assessment of market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data and projections with suitable set of assumptions and methodology. Research report provides analysis and information by categories such as market segments, geographies, types, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global Peanut Butter Market Segment Analysis
The global peanut butter market can be segmented on the following basis
By Type
By Distribution Channel
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA.
Jan 23, 2023
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