Health Benefits and Changing Dietary Habits Driving the Global Peanut Butter Market

The global peanut butter market has grown at a CAGR of around 6% with sales reaching US$ 3 Billion in 2015. Although, peanut butter is a popular part of the American diet, its presence in other markets is significantly low. However, growing emphasis on the nutritional value of peanut butter is gradually leading to its popularity in the emerging markets. According to IMARC Group, the unpenetrated markets, outside the United States and Canada, will account for the majority of the growth during 2016-2021.

In a recently published report by IMARC Group titled “Peanut Butter Market: Industry Trends, Manufacturing Process, Plant Setup, Machinery, Raw Materials, Cost and Revenue”, a thorough analysis of the global peanut butter market has been provided along with the market size, trends and future growth prospects. Currently, the presence of peanut butter is more prominent in the west, especially in the United States and Canada, as compared to its penetration in the Asian and other developing regions. However, the growing awareness about the various uses of peanut butter is gradually advancing its consumption in the emerging markets.

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Peanut butter finds wide ranging applications in the food and beverage industry. Being a low-calorie product with high protein content, it possess high nutritional value and as a result of which, it’s used as a healthy substitute for milk butter. It is extensively used as a spread, in breakfast foods, savoury sauces, smoothies and innumerable bakery products. According to the report, the global peanut butter market has grown at a CAGR of 6% during 2008-2015 with sales reaching US$ 3 Billion in 2015. Several factors are currently at play that are augmenting the demand for peanut butter. They include the growing demand for low calorie nutritious/healthy products, innovation of new blends and flavours, increasing disposable incomes, changing lifestyles along with a shift towards convenience foods and an increasing demand from emerging markets.

The report has segmented the market on the basis of different types of peanut butter. Currently, creamy peanut butter is the most widely consumed type of peanut butter followed by crunchy/chunky peanut butter, old fashioned/natural peanut butter, reduced fat peanut butter and honey roasted peanut butter. The report has further covered a market share analysis of the key regions. Currently, North America represents the biggest market for peanut butter followed by Europe and Asia Pacific. Mapping out the competitive landscape, J.M. Smucker Co. represents the largest player in the global peanut butter market followed by Hormel Foods and ConAgra Foods Inc.

This report provides a detailed roadmap for setting up a peanut butter manufacturing plant. The study covers all the essential aspects of the peanut butter industry and provides an in-depth analysis of the market, industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the peanut butter industry in any manner.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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This release was published on openPR.