Covid-19 Impact on Nut Butters Market | Industry Growth and Forecast to 2024

Posted November 19, 2020 by taursuraj56

Covid-19 Impact on Nut Butters Market by Source (Edible Nuts, Vegetable Extracts, Oilseeds and others), Packaging
Market Overview

Nut Butters can be prepared using several nuts such as almond, peanuts, cashews, seeds (pumpkins, sesame, ETC). Nut butters. Among all the varieties, peanut butter is most widely used. However, growing incidences of peanut allergy, consumers have shifted to other alternatives owing to rising awareness level about the product availability. In addition, nut butter contains essential nutrients such as fiber, protein, vitamins and minerals, and healthy fats, among others. These healthy benefits of nut butters are likely to give a push to market growth. The product can help in improving cholesterol level, aid in weight loss, and can help in stabilizing blood sugar level.

Increasing awareness regarding health benefits of nut benefits is fueling the demand for the product owing to which the market for nut butters is growing at a striking rate globally.

Key Players

The key players profiled in Global Covid-19 Impact on Nut Butters Market Report include Vermont Peanut Butter (USA), NUTTZO Co (USA), Hormel Foods (USA), Funky Nut Company (UK), FUTTER’S Nut Butters (USA), KREMA Nut Co (USA), Bliss Nut Butters (USA), Betsy’s Best (USA), Barney Butter (USA) and Saratoga Peanut Butter Co (USA), and The JM Smucker Company (USA) among many others.

Owing to growing health and wellness trend and increasing consumers’ awareness about nut butters, the key manufacturers are investing in research and development for the launch of novel product. They have been diversifying their product portfolio by offering “free-from” and organic nut butters. In addition, the products are being made available in different flavors to attract consumers’ attention. The key manufacturers are also opting for strategic acquisition to expand geographical reach and strengthen product portfolio. For instance, KELLOG Co, acquired RXBAR which is planning to nut butters to capitalize on the growing demand. Customizing product as per local taste and preferences and keeping with the changing consumers preferences will support manufacturers in augmenting their profit margin.

Industry Segments

Global Covid-19 Impact on Nut Butters Market is segmented into Source, Packaging, Application and Region

On the Basis of Source- Edible Nuts, Oilseeds, Vegetable Extracts and others

On the Basis of Packaging- Squeeze Packs, Jars, and others

On the Basis of Application- Table Purpose, Bakery Products, Confectioneries, Snacks and others

On the Basis of Region- North America, Europe, Asia-Pacific and ROW

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Regional Analysis

Global Nut Butters Industry is segmented into Europe, North America, Asia-Pacific, and Rest of the World. Europe accounts for the largest market share followed by North America. Health benefits associated with the consumption of nut butters is driving the market in the region. Asia-Pacific market is the fastest growing segment owing to increasing demand for the product. Increasing awareness about the availability of the product owing to aggressive promotional activities has fuelled the market growth in the region.

Related Video Analysis on FnB Reports:

NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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Last Updated November 19, 2020