With 4.6% CAGR, Global Peanut Butter Market Size to Surpass USD 4.8 Billion by 2026 – Comprehensive Research Report by Facts & Factors
According to Facts & Factors, the Global Peanut Butter Market size in terms of revenue was worth around USD 3.5 Billion in 2019 and is expected to reach USD 4.8 Billion by 2026, growing at a CAGR of 4.6% from 2020 to 2026. The global Peanut Butter market is projected to grow at a significant growth rate due to a number of driving factors.
Peanut butter is a popular food spread made from processed peanuts. It is a low calorie, high protein, and high fibre product that is widely consumed around the world due to its delicious taste and nutritional properties. It is used in the preparation of a variety of foods, including brownies, chocolates, cornbreads, salads, cakes, rolls, and various types of desserts.
For More Detail, Visit: https://www.fnfresearch.com/peanut-butter-market-by-type-smooth-peanut-butter-1295
The nutritional benefits of peanut butter consumption are propelling the global peanut butter market. Vitamin E is abundant in peanut butter. Vitamin E is a powerful antioxidant that protects cells by boosting the immune system. It aids in eye protection and muscle orientation. Consumers are increasingly interested in healthy products that also taste good, which will boost the peanut butter market in the coming years. Peanut butter is a convenience food that can be consumed directly or used to quickly prepare a variety of food items. People’s lifestyles have become more hectic and fast-paced around the world.
As a result, people are focusing on foods that provide instant energy as well as convenience. Peanut butter meets these requirements, so an increase in global consumption of peanut butter is expected. However, a recent trend indicates that the price of peanut butter is rising. Peanut butter price increases will limit market growth to some extent. Nonetheless, the global shift in consumer preference for healthy snacks and breakfast options will keep the peanut butter in high demand.
The global peanut butter market is divided into three categories: product type, distribution channel, and region. Due to its use as a spread on sandwiches and other snacks, the smooth peanut butter category in the product type segment had a significant market share in 2019. Peanut butter sales in supermarkets, hypermarkets, and convenience stores are significant. However, due to the growth of e-commerce platforms and the convenience of ordering products from home, there is an increasing distribution through online sales channels.
North America dominated the peanut butter market in 2019 and is expected to continue to do so in the coming years. This can be attributed to the region’s high disposable income and abundance of raw materials. The United States consumed the most peanut butter in the North America region. This can be attributed to rising obesity rates and, as a result, increased demand for nutritional foods.
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 are some of the key players in the global peanut butter market.
Global Peanut Butter Market: Regional Segmentation Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Read More Articles:
|Dietary Supplements Market : https://www.fnfresearch.com/dietary-supplements-market
|Dietary Fiber Market : https://www.fnfresearch.com/dietary-fiber-market
|Diatomite Market : https://www.fnfresearch.com/diatomite-market
|Drug Delivery in Cancer Market : https://www.fnfresearch.com/drug-delivery-in-cancer-market
|Directed Energy Weapons Market : https://www.fnfresearch.com/directed-energy-weapons-market
|Direct Carrier Billing Market : https://www.fnfresearch.com/direct-carrier-billing-market
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.