Peanut Butter Market Size Worth US$ 4.9 Billion by 2024 | CAGR 5.5%

Global Peanut Butter Market Research Report and Forecast 2024 Report Edition: 2019 © 2019 IMARC All Rights Reserved

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Report Description and Highlights

Report Description

Global Peanut Butter Market Overview: According to a report by IMARC Group titled, “Peanut Butter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global peanut butter market is expected to grow at a CAGR of 5.5% during 2019-2024. Presently, the sales of peanut butter are concentrated in the west, especially in the United States and Canada, as the market in these regions has a wider consumerbase than in the developing countries. However, due to the rising standards of living and changing tastes, peanut butter is slowly paving its way into the developing regions around the world. As a result of these transforming market trends, the market of peanut butter is expected to reach a value of US$ 4.9 Billion by 2024.

Highlights of the global peanut butter market: • • •

The food and beverage industry represents the largest driver for the growth of the market.

Creamy peanut butter dominates the market, representing the most popular type of peanut butter.

North America is the largest region, accounting for the majority of the market share.

Report Description and Highlights

157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Billion US$

In Billion US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

Peanut butter is used in combination with a variety of food products as spread and in breakfast foods, savoury sauces, smoothies and innumerable bakery products. Other factors which are contributing to the growth of the global peanut butter market are increasing disposable income, evolving tastes, innovation in the food and beverage industry, and introduction of new blends and flavours.

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Report Description and Highlights

Report Description

Peanut butter is used for wide ranging applications in the food and beverage industry, which forms the primary driving factor for its demand. As a consequence of growing health awareness, consumers seek out food options which are rich in nutritional value. As a result, the demand for peanut butter is gaining momentum due to its low caloric value and high nutrition content. Moreover, it can also be used as a substitute for milk butter.

Key Market Segmentation: Market Segmentation by Type • • • • •

Creamy Peanut Butter Crunchy Peanut Butter Natural Peanut Butter Fat Reduced Peanut Butter Honey Fat Peanut Butter

The report has segmented the market on the basis of product type, which include creamy peanut butter, natural peanut butter, crunchy/chunky peanut butter, honey roasted peanut butter and reduced fat peanut butter. Currently, creamy peanut butter holds the largest market share.

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For more information, click here: https://www.imarcgroup.com/peanut-butter-manufacturing-plant Market Segmentation by Region • • • •

Asia North America Europe Others

Furthermore, the report has analysed the key regions and finds that North America represents the biggest market for peanut butter. It is followed by Europe and Asia Pacific. Apart from this, an evaluation of the competitive landscape is also given.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

•

J.M. Smucker Co.

Report Description and Highlights

Report Description • •

ConAgra Foods Inc. Hormel Foods

Browse Related Report Peanut Market Report: https://www.imarcgroup.com/prefeasibility-report-peanut-processing-plant Peanut Oil Market Report: https://www.imarcgroup.com/prefeasibility-report-peanut-oil-processing-plant

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Report Description and Highlights

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