North America Peanut Butter Market Share, Growth, Demand and Future Prospects

[Business Point 2021]

The North America peanut butter market size reached a volume of 258.7 K... in 2020. Looking forward, IMARC Group expects the market to reach a volume of 311.2 Kilo Tons by 2026. The escalating shift of consumers towards healthier breakfast and snack options, on account of the rising obesity rates, is among the primary factors driving the North America peanut butter market. 



Market Outlook:

Peanuts are an essential crop grown across North America and are commercially used in the production of butter, oil, flour, confections, and snacks. Peanut butter is among the most consumed food spreads and is made by grinding and dry-roasting peanuts. It is mainly marketed as a substitute for milk butter and is an energy-rich product. Peanut butter offers protein, fiber, unsaturated fats, and micronutrients, including magnesium, zinc, potassium, and vitamin E. As a result of this nutritional profile, it is utilized in the preparation of various food products, such as brownies, rolls, salads, cakes, frostings, corn breads, chocolates, etc.

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Market Trends and Drivers: 

The launch of favorable policies by the government bodies to reduce the overall consumption of sweet spreads, including jam, is further augmenting the market growth. Apart from this, the elevating demand for peanut butter in bakeries and confectionaries for preparing cupcakes, pies, biscuits, muffins, cookies, stuffed celery, frosting, rolls, brownies, etc., is also catalyzing the regional market. Moreover, the introduction of innovative product variants, such as creamy, crunchy, natural, chunky, reduced fat, and honey-roasted, is acting as another significant growth-inducing factor. Furthermore, the increasing cases of lifestyle diseases and the growing popularity of nutritious and low-calorie food items are anticipated to propel the North America peanut butter market over the forecasted period.  

Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:                                                 

The competitive landscape of the North America peanut butter market has been studied in the report with the detailed profiles of the key players operating in the market.

Key Market Segmentation:

The report has segmented the North America peanut butter market on the basis of type, distribution channel and country.

Breakup by Product Type:

Crunchy Peanut Butter
Smooth Peanut Butter
Others

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Convenience Stores
Online Stores
Others

Breakup by Country:

United States
Canada

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Key Highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

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