Our comprehensive research on the Global Peanut Butter Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global peanut butter market size was US$ 6.1 billion in 2021. The global peanut butter market is forecast to grow to US$ 9.4 billion by 2030 by growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
The rising demand for nutritional products is driving the growth of the global peanut butter market. In addition, growing awareness regarding the health benefits of peanut butter is forecast to surge the growth of the global peanut butter market.
The growing urban population and rising disposable income are likely to offer ample growth opportunities for the global peanut butter market during the forecast period.
The increasing working population and their hectic schedules are likely to benefit the global peanut butter market. On the contrary, the high cost of peanut butter may restrict the market growth during the study period.
The rising number of bariatric patients focusing on increasing weight will benefit the global peanut butter market. Furthermore, the growing demand for hotel food and ready-to-eat dinners will propel the peanut butter market forward.
Regional Analysis
North America is forecast to hold the highest market share, owing to the growing consumer demand for healthy food items. In addition, a significant range of the population prefers ready-to-cook food. As a result, it will surge the growth of the global peanut butter market.
On the other hand, the Asia Pacific region is forecast to register the fastest growth, owing to the contribution of emerging economies like China and India. With the rising per capita consumption of peanut butter in the Asia Pacific, the peanut butter market is expected to grow significantly in the coming years.
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Competitors in the Market
- Agro Tech Foods Limited
- Algood Food Company Inc.
- Archer Daniels Midland
- Boulder Brands Inc.
- Britannia Dairy Private Limited
- Conagra Foodservice
- Diamond Foods, Inc.
- Dr. Oetker India Pvt Ltd
- Hampton Farms, Inc
- Hormel Foods Corporation
- Hunts
- Kraft Canada Inc.
- Kraft Heinz
- Mayvers
- Mother Dairy Fruit & Vegetable Private Limited
- Olam International
- Parag Milk Foods Limited
- Peanut Butter & Co
- Pinnacle Foods
- Procter & Gamble
- Skippy
- Star Snacks Co., LLC
- The Hain Celestial Group
- The Hershey Company
- The J.M. Smucker Company
- Trader Joe’s
- Unilever Group
- Virginia Diner
- Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Peanut Butter industry experienced notable growth in its workforce. Starting in January, employment within the Peanut Butter sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Peanut Butter output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Peanut Butter output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Peanut Butter market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Peanut Butter market.
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Market Segmentation
The global peanut butter market segmentation focuses on Type, Distribution Channel, and Region.
The peanut butter market has been segmented based on type –
- Smooth Peanut Butter
- Crunchy Peanut Butter
- Low-Fat Peanut Butter
- Others
The peanut butter market has been segmented based on distribution channel –
- Online
- Offline
The peanut butter market has been segmented based on region –
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Peanut Butter Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Peanut Butter Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Peanut Butter Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Peanut Butter Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Peanut Butter market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Peanut Butter market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Peanut Butter business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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