Hormel Foods Corporation, The J.M. Smucker Co., Post Holdings, Inc., Sonya Foods Pvt. Ltd., and H.J. Heinz Company Brands LLC (KRAFT Foods), among others, are the major players in the global market for peanut butter.
As per the analysis by Expert Market Research, the global peanut butter market is estimated to grow during the forecast period of 2018-2022 at a CAGR of 6.1%.
Peanut butter is a spread or food paste generated mainly from ground dry roasted peanuts. It is extensively consumed for its taste and nutritional value. Owing to the presence of monounsaturated fat, it is good for health in various ways such as aiding in lowering LDL cholesterol levels.
It is a standard alternative to milk butter. It usually includes extra ingredients that change the texture or taste, like salt, emulsifiers, or sweeteners. The high consumption of peanut butter is due to the nutritional benefits as peanut butter consists of nutrients, minerals, and vitamins, further influencing the consumer demand for peanut butter globally.
The rising adoption of health-boosting products along with growing awareness regarding health benefits as well as surging consumer interest in fitness and weight management are expected to aid the peanut butter market growth. Further, the increasing trends of vegetarianism and veganism are also expected to prove beneficial for market growth as peanut butter is a useful source of protein for vegans.
Moreover, since peanut butter is a rich source of protein, it is also influencing its demand among fitness enthusiasts as a pre-and post-workout supplement. The increasing cases of obesity are further encouraging the demand for innovative and low-calorie peanut butter variants to serve as a healthy breakfast solution.
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|Minnesota, United States
Hormel Foods Corporation is a universal food company with around USD 11.386 billion in annual revenue in 2021, and a reach across more than 80 countries globally. The company markets and produces premium quality meat and food products worldwide. Skippy Squeeze peanut butter and peanut butter spreads, Skippy No Sugar Added peanut butter spreads, and Skippy Enhanced Protein peanut butter are three new product categories that the firm introduced under its Skippy peanut butter brand in June 2020.
|Ohio, United States
The J.M. Smucker Co. is an American company that manufactures food goods. With a combination of classic brands like Jif, Milk-Bone, and Folgers, and new favourites like Café Bustelo, Smucker's, Uncrustables, and Rachael Ray, Nutrish, the company offers fruit spreads, ice cream toppings, drinks, shortening, and other items.
|Missouri, United States
Post Holdings, Inc., is a customer packaged goods holding company with trades operating in the centre-of-the-store, refrigerated, food service, and various food ingredient categories. In the North American ready-to-eat cereal market, Post is a market leader, with a diverse portfolio that includes well-known brands including Honey Bunches of Oats®, PebblesTM, Great Grains®, and Malt-O-Meal® bag cereal. With the recognisable Weetabix® brand, Post is a market leader in the ready-to-eat cereal market in the United Kingdom.
Sonya Foods Pvt. Ltd. is a manufacturer of nut butters and spreads. The company’s products are present and sold in more than 50+ countries. The company provides cashew butter, almond butter, and chocolate hazelnut spreads, along with peanut butter.
|Illinois, United States
H.J. Heinz Company Brands LLC (KRAFT Foods) is a worldwide trusted producer of delicious foods. It is the third foremost food and beverage company in North America and the fifth biggest across the globe. The company strives to offer great taste, nutrition, and premium quality.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.