United States Nut Based Spread Market Share, Size, Analysis, Forecast: By Product: Peanut Based Spreads, Almond Based Spreads, Walnut Based Spreads, Cashew Based Spreads, Hazelnut Based Spreads, Others; By Form: Crunchy, Creamy; By Packaging Type: Glass Packaging, Others; By Distribution Channel; Competitive Landscape; 2024-2032

United States Nut Based Spread Market Outlook

The United States nut based spread market size reached a value of approximately USD 2.57 billion in 2023. The market is further expected to grow at a CAGR of 6.4% between 2024 and 2032, reaching a value of USD 4.48 billion by 2032.

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Key trends in the market

Nut based spreads are prepared by processing various nuts including but not limited to cashews, almonds, peanuts, and hazelnut, and grinding the into a paste. The paste can then be used to spread on different food items, similar to butter, or mixed with liquids to form a sauce. They have high nutritional value and are rich in proteins, fibres, vitamins, and minerals, among others. They help in increasing good cholesterol levels while keeping bad cholesterol levels under check.

• Increased preference for incorporation of plant based dietary options into regular diets is boosting the demands for nut based spreads. The health benefits along with rich flavouring options have made them a popular food option among the American population, and people following vegan diets are also able to get varied options with nut based spreads.

• Growing concerns pertaining to physical appearances among the American population is yet another factor contributing to United States nut based spread market. Nut based spreads are becoming increasingly popular among such individuals due to their low-calorie content and high quality of taste and nutritional content.

• Rising disposable incomes have enabled many households to switch to nut based spreads, with sedentary lifestyle coupled with hectic work schedules further catalysing the growth of the market. The high nutritional value and preparation convenience, makes nut based spreads with breads an ideal breakfast option.

• The growing popularity of innovative recipes that utilise nut based spreads are a key trend in the United States nut based spread market with various social media platforms and accounts promoting different recipes with nut based spreads. Some options include nut based spreads in muffins, cookies, salad dressings, and granola.

Market Analysis

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Based on product, the United States nut based spread market is segmented into peanut based spreads, almond based spreads, walnut based spreads, cashew based spreads, and hazelnut based spread, among others. On the basis of form, the market is bifurcated into crunchy and creamy. Based on packaging type, the market is divided into glass packaging and plastic packaging. By distribution channel, the market is segregated into supermarkets and hypermarkets, convenience stores, and online stores, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States nut based spread market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans. 

• 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.

• Ingenuity Brands

• Others

Market Share by Product

Regular consumption of nut based spreads has led to an increase in demand for varied options in the nut based spread market. Hazelnut based spreads are witnessing significant growth in the United States nut based spread market due to their slightly sweet taste which is widely enjoyed by consumers. They impart a chocolaty flavour and are commonly used as a healthier alternative to traditional sweets, by adding them to different recipes or spreading on toasts. Among more health-conscious consumers, almond based spreads are gaining popularity due to their high nutritional value and suited combination with fruits, increasing their demand in the United States nut based spread market.

Market Share by Form

Creamy forms of nut based spreads account for a sizable share of the United States nut based spread market due to their versatility in use in various recipes and on different types of bread. While preference for form of nut based spreads does vary depending upon personal choice, creamy textures are easier for spreading and can be combined with other condiments and ingredients with ease. However, for use as a sole spread, there is still adequate demand for crunchy nut based spreads among adults due to their nutritional value.

Nut based spreads are nutrition powerhouses in both crunchy and creamy forms, but the difference of texture and taste is what separates them both. Crunchy nut based spreads contain complete or partial pieces of nuts in them, whereas creamy nut based spreads are smoother and the nuts are completely blended in. Both forms contain abundance of essential nutritional components, however, in some cases the crunchy nut based spreads contain more fibres than their creamy counterparts. 

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Competitive Landscape

The Kraft Heinz Company was founded in 2015 and is headquartered in Illinois in the United States. It is one of the largest global beverage and food companies, with over 20 brands in its profile, including the famous Heinz and Kraft. The company’s focus is on providing high quality, nutrition, and great taste for all types of eating occasions, including in restaurants, at home, or on the go.

The J.M. Smucker Company is a manufacturer of beverage and food products, which was established in 1897 and is headquartered in Ohio, United States. Their three major business units are pet food and snacks, consumer foods, and coffee. The company is known as a manufacturer and marketer of products including peanut butter, condensed milk, and ice cream toppings, among others.

Conagra Brands, Inc. was established in 1919 and is based in Illinois, United States. It is a consumer packaged goods holding company that makes and sells products under many brand names. Their products are readily available in restaurants, supermarkets, and food service establishments, and include frozen meals, cooking sprays, margarines, spreads, side dishes, sauces, and snacks, among others.

Key Highlights of the Report

*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.