Nut Butters Market: Introduction
The ‘nut butters’ is a generic term for any type of spreadable food products prepared from blended or crushed nuts. The nut butters have gained popularity from the last few years and the demand is increasing considerably. In initial days the peanut butter was the only substitute to the dairy butters, but over the past few years, the technological advancements and the increasing consumer awareness regarding the nut butters or plant-based butters, has steered the growth of myriad varieties of plant-based butters.
The nut butters are sourced from various nuts and seeds that are enriched with protein, essential fatty acids, fiber, and other health beneficial nutrients. These days’ various type of plant-based or nut butters are available in the global market including peanut butter, almond butter, soy butter, pistachio butter, sesame butter, and cashew butter among others etc. These plant-based butters are normally prepared by roasting, crushing/grinding and store at a low temperature. Apart from food industry, the nut butters have wider applications in the cosmetics and personal care industry that is increasing its demand in the global market.
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Rising Demand For Plant-based Butters Boosting the Overall Market Growth
The rising health concerns regarding dairy butter consumption because of its fat content has increased the demand for the alternative plant-based butters such as seeds, and nut butters. Seeds and nuts are high nutrient value foods and have been regular components of human diet since past times. Nut butters are generally consumed as spreads over various snacks and food products as they work as taste enhancers, handy to use.
The nut butters are enriched with antioxidants, and various vital vitamins (B7, C & E) and minerals such as manganese, selenium, along with phenols, flavonoids, polyphenols, and magnesium. That prevents cancer, maintains blood cholesterol level and blood pressure, and also prevents CVDs (Cardiovascular Diseases). Moreover, increasing incidences of dairy butter-based food allergies along with awareness regarding animal welfare have contributed to the growing trend for veganism. Apart from veganism, the vegetarian population are another key factor that is propelling the growth of nut butters market.
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Nut Butters: Segmentation
The nut butters market is segmented on the basis of nature, product type, grade, packaging, end-use industry, and sales channel.
Based on nature, the global nut butters market is segmented as-
- Organic
- Conventional
Based on product type, the global nut butters market is segmented as-
- Peanut
- Almond
- Cashew
- Soy
- Pistachio
- Hazelnut
- Coconut
- Others
Based on grade, the global nut butters market can be segmented as-
- Food Grade
- Cosmetics Grade
Based on packaging, the global nut butters market is segmented as-
- Retail
- Squeeze Packs
- Pouches
- Jars
- Bulk
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Based on end-use industry, the global nut butters market is segmented as-
- Food
- Bakery
- Confectionary
- Ice-cream Parlor
- Snacks
- Chips
- Cosmetics and Personal Care
- Hair Care
- Skin Care
- Eye-Care
- Color Cosmetics
- Toiletries
- Pharmaceuticals
- Nutraceuticals
- Dietary Supplements
- Functional food
Based on sales channel, the global nut butters market is segmented as-
- Direct/B2B
- Indirect/B2C
- Store-based Retailing
- Hypermarket/Supermarket
- Specialty Stores
- Discount Stores
- Modern Grocery Stores
- Traditional Grocery Stores
- Other Store-based Retailing
- Online Retailing
- Store-based Retailing
Nut Butters: Key Players
Some of the leading players of global nut butters market include Hormel Foods Corporation, Justin’s, Nuttzo, The J. M. Smucker Co., Hain Celestial, Bliss Nut Butters, Funky Nut Company, Barney & Co. California, LLC, NuttZo Co, Krema Nut Company, CACHE CREEK FOODS, Once Again Nut Butter, Funky Nut Company, Georgia Grinders, Futter’s Nut Butters, Wild Friends, Barney Butter, Big Spoon Roasters, Yumbutter, Blue Mountain Organics, Nuts’N More, and Eliot’s Adult Nut Butters among others.
Nut Butters: Opportunities
The prominent manufacturers are incessantly endeavoring to build up their market positions and trying to hold more share along with control by undertaking initiatives including product/flavor innovation, product portfolio expansion, mergers and acquisitions, and exploration of fluctuating key market trends.
The world has undergone a major shift in the way of living since the COVID-19 pandemic struck. A notable change in the functioning of various businesses and sectors has influenced their working mechanisms extensively. The food and beverage sector is no stranger to this change. Transparency Market Research (TMR) has studied many aspects concerning the difference between the trends in the pre-pandemic and post-pandemic world across the food and beverage industry.
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