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Global Peanut Butter Market Size, Share, Forecast: By Spread Type: Creamy, Crunchy/Chunky, Old Fashioned/Natural, Reduced Fat, Honey Roasted; By End-Use: Cooking, Health Product; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032
Global Peanut Butter Market Outlook
The global peanut butter market grew at a CAGR of around 6.1% during 2018-2023. The market is further estimated to witness a healthy growth in the forecast period of 2024-2032.
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Growing Demand for Peanut Butter Spreads Due to Ease of Consumption to Support the Market Growth
The growing consumer preference for peanut butter spread during meals is anticipated to supplement the growth of the market in the forecast period. This can be attributed to the ease of consumption offered by peanut butter, which can be used as a spread or topping on various food items including bread and crackers, among others. In addition, peanut butter is also used to cook a variety of dishes including baked goods like cakes and cookies, and beverages such as smoothies and milk shakes, among others.
North America to Provide Significant Growth Opportunities for the Market Expansion of Peanut Butter
The North America region is expected to account for a significant share of the market, with the United States being the leading consumer and exporter of peanut butter. This can be attributed to the growing preference for energy enhancing products, especially among the working population. Peanut butter is a rich source of protein, which is also leading to its increased demand among the fitness enthusiasts as a pre and post-workout food. The rising cases of obesity in the region are further supporting the demand for innovative and low-calorie peanut butter variants to serve as a healthy breakfast solution.
Market Segmentation
Peanut butter is a food paste made primarily from ground dry roasted peanuts and can be traced back to the Aztecs. It is widely used for its nutritional value and taste due to the presence of heart-healthy monounsaturated fat. It is an ideal substitute to milk butter.
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By spread type, the market is divided into:
- Creamy
- Crunchy/Chunky
- Old Fashioned/Natural
- Reduced Fat
- Honey Roasted
On the basis of end use, the industry can be categorised into:
- Cooking
- Health Product
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Consumption of Peanut Butter as a Nutritional Product to Augment the Growth of the Market
The market is currently being driven by the heightened consumption of peanut butter owing to its nutritional profile, as it is rich in protein, dietary fibre, and vitamins. The increased consumption can be associated with the growing adoption of health enhancing products due to the rising consumer interest in fitness and weight management. In addition, the growing trends of veganism and vegetarianism are also expected to prove beneficial for the market growth. Furthermore, the rising disposable incomes and improved living standards are expected to bolster the demand for premium food products in the forecast period. In this regard, the leading market players are increasingly investing in the development of new and innovative peanut butter flavours that are enriched with protein and comprise no-added sugar, which is expected to significantly contribute to the market growth in the coming years.
Key Players in the Global Peanut Butter Market
The report gives a detailed analysis of the following key players in the global peanut butter market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Hormel Foods Corporation
- The J.M. Smucker Co.
- Post Holdings, Inc.
- Sonya Foods Pvt. Ltd.
- H.J. Heinz Company Brands LLC (KRAFT Foods)
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model and SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End-Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Peanut Butter Market Analysis
8.1 Key Industry Highlights
8.2 Global Peanut Butter Historical Market (2018-2023)
8.3 Global Peanut Butter Market Forecast (2024-2032)
8.4 Global Peanut Butter Market by Spread Type
8.4.1 Creamy
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Crunchy/Chunky
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Old Fashioned/Natural
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Reduced Fat
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Honey Roasted
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2023)
8.4.5.3 Forecast Trend (2024-2032)
8.5 Global Peanut Butter Market by End-Use
8.5.1 Cooking
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Health Product
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.6 Global Peanut Butter Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Hormel Foods Corporation
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 The J.M. Smucker Co.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Post Holdings, Inc.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Sonya Foods Pvt. Ltd.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 H.J. Heinz Company Brands LLC (KRAFT Foods)
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Peanut Butter Market: Key Industry Highlights, 2018 and 2032
2. Global Peanut Butter Historical Market: Breakup by Spread Type (USD Billion), 2018-2023
3. Global Peanut Butter Market Forecast: Breakup by Spread Type (USD Billion), 2024-2032
4. Global Peanut Butter Historical Market: Breakup by End-Use (USD Billion), 2018-2023
5. Global Peanut Butter Market Forecast: Breakup by End-Use (USD Billion), 2024-2032
6. Global Peanut Butter Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Peanut Butter Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Peanut Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Peanut Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Peanut Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Peanut Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Peanut Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Peanut Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Peanut Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Peanut Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Peanut Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Peanut Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Peanut Butter Market Structure
Key Questions Answered in the Report
The major drivers of the market include the nutritional profile of peanut butter as it is rich in protein, dietary fibre, and vitamins, rising competition in the market, growth of the bariatric population, increasing disposable income, and changes in consumer eating habits.
The increased demand for healthy breakfast and snacking options and the rising adoption of veganism are the key industry trends propelling the market growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
On the basis of spread type, the market can be segmented into creamy, crunchy/chunky, old fashioned/natural, reduced fat, and honey roasted.
The major end uses include cooking and health product.
The major players in the industry are H.J. Heinz Company Brands LLC (KRAFT Foods), Hormel Foods Corporation, The J.M. Smucker Co., Post Holdings, Inc., Sonya Foods Pvt. Ltd., and others.
Analyst Review
The global peanut butter market is being driven by the growing consumer demand for healthy breakfast and snacking options. Aided by the rising obesity rates and the growing shift towards veganism, the market is expected to witness a healthy growth in the forecast period of 2024-2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of spread type, the market can be segmented into creamy, crunchy/chunky, old fashioned/natural, reduced fat, and honey roasted. The market, based on end use, can be divided into cooking and health product. The major regional markets for peanut butter are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The major players in the industry are H.J. Heinz Company Brands LLC (KRAFT Foods), Hormel Foods Corporation, The J.M. Smucker Co., Post Holdings, Inc., Sonya Foods Pvt. Ltd., and others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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