Peanut Butter Market Set to Grow USD 4.8 Billion By 2026
According to the report, The global peanut butter market in 2019 was approximately USD 3.5 billion. The market is expected to grow at a CAGR of 4.6% and is anticipated to reach around USD 4.8 billion by 2026.
Peanut butter is one of the most consumed food spread made from processing peanuts. It a low calorie and high protein and fiber product that is consumed on a large scale globally due to its good taste and nutritional properties. It is used during the preparation of various food items such as brownies, chocolates, cornbreads, salads, cakes, rolls, and different types of desserts.
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The peanut butter market research report delivers an acute valuation and taxonomy of the peanut butter industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the peanut butter industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the peanut butter industry is provided for the leading economies of the world.
The peanut butter market is segmented based on type and application. On the basis of type segmentation, the market is classified into smooth peanut butter, crunchy peanut butter, and others. In terms of application segmentation, the market is bifurcated into supermarkets and hypermarkets, convenience stores, online stores, and others.
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Some of the essential players operating in the peanut butter market, but not restricted to include Hormel Foods Corporation, Kraft Canada Inc., The Hershey Company, Unilever, ConAgra Foods Inc., Algood Food Company Inc., Dr. Oetker India Pvt Ltd, Procter & Gamble, Boulder Brands Inc., and The J.M. Smucker Company.
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