United States Nut Based Spread Market to Grow at a CAGR of 6.4% During 2024-2032, Aided by the Growing Veganism and Rising Health Consciousness

Nut-based spreads are crafted by blending a variety of nuts such as cashews, almonds, peanuts, and hazelnuts into a smooth paste. This versatile paste serves as a nutritious alternative to butter, with proteins, fibres, vitamins, and minerals. Further, nut-based spreads promote good cholesterol levels and regulate the bad ones. The surge in interest in plant-based dietary choices is propelling the United States nut based spread market growth.

According to industrial reports, about 3% of the US population is vegan, representing 10.05 million people. Additionally, the quest for physical wellness among the population fuels the market as nut-based spreads is a low-calorie, yet satisfying option.

Fig: USA Dietary Choice, in Percentage, in 2023

Further, more households are embracing nut-based spreads, especially amidst sedentary lifestyles and busy schedules, making them an ideal breakfast companion. The market is further invigorated by the proliferation of innovative recipes integrating nut-based spreads. Social media platforms actively promote such recipes, ranging from muffins and cookies to salad dressings and granola. As a result, nut-based spreads are becoming a staple in American households, catering to both health-conscious consumers and culinary enthusiasts.

Further, companies are increasingly making efforts to increase their outreach, leading to several partnerships with distributors and retail store outlets. For instance, in June 2023, FIt Butters in collaboration with Walmart Inc. (NYSE: WMT) launched three flavors of FIt Butters nationwide.

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Market Breakup by Product, Form, Packaging Type, Distribution Channel:

• Based on product, the market can be divided into peanut based spreads, almond based spreads, walnut based spreads, cashew based spreads, and hazelnut based spreads, among others.

• The market, based on form, is bifurcated into crunchy and creamy.

• Based on packaging type, the market can be segmented into glass packaging, and plastic packaging, among others.

• By distribution channel, the market can be divided into supermarkets and hypermarkets, convenience stores, and online stores, among others.

Key Findings of the Report:

• Nut-based spreads offer a rich source of proteins, fibers, vitamins, and minerals, promoting overall health and well-being. They serve as a nutritious alternative to traditional butter, aiding in maintaining good cholesterol levels and regulating bad cholesterol.

• The surge in interest in plant-based dietary choices, driven by concerns for health and the environment, has propelled the demand for nut-based spreads in the United States.

• Nut-based spreads are gaining popularity among households due to their convenience and versatility. They serve as an ideal breakfast companion, catering to busy schedules and sedentary lifestyles.

• Additionally, their adaptability in various recipes, from sweet to savoury, makes them a staple ingredient in American kitchens.

• Companies are actively engaging in marketing and distribution strategies to expand their outreach. Leading to several collaborative agreements with distributors and retail outlets, supporting the growth of the market.

Key Offerings of the Report:

• The EMR report gives an overview of the United States nut based spread market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the product, form, packaging type, distribution channel of nut based spread.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the United States nut based spread market are The J.M. Smucker Company, Hormel Foods, LLC, Post Consumer Brands, LLC, The Kraft Heinz Company, Conagra Brands, Inc., Hain Celestial Group, BetterBody Foods, Pip & Nut Ltd., and Ingenuity Brands, amongst others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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