Nut-Based Spread Market research report by Delvens focuses on primary sections such as – market segments, market outlook, competitive landscape, and company profiles. The segments provide details in terms of various perspectives such as end-use industry, product or service type, and any other relevant segmentation as per the market’s current scenario which includes various aspects to perform further marketing activity.
The global Nut-Based Spread Market size is projected to reach a CAGR of 7.2% from 2023-2030.
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Nut butter is a spread made by blending nuts with water until it forms a paste-like consistency. Nut-based spreads can be crunchy or creamy, and you can use them in sweet and savory applications. Popular nut spreads include peanut butter, almond butter, cashew butter, walnut butter, and pecan butter. Some nut butters are high in fiber, protein, and fatty acids and contain many vitamins and minerals that can be beneficial to your health.
The rising prevalence of lactose intolerance among the population across the globe is leading to an increased demand for non-dairy products. This has increased the sales of plant-based products such as nut butter. Additionally, growing consumer preference for a vegan and vegetarian diet is driving the growth of the global nut butters market.
Regional Analysis
North America to Dominate the Market
North American spreads market is a well-established market and the production of nut-based spreads in the region is self-sufficient. Nut-based spreads were established in the North American market at the initial stages of the product introduction and are a part of the American breakfast.
Increasing demand for low-fat spreads is a major factor driving the nut-based spreads in North America. Major brands such as Nutella are dominating the market and coming up with various innovations such as spreads made with natural ingredients i.e., free from additives like artificial sugars, gelling agents, etc.
Competitive Landscape
· Kraft Foods
· Nestle
· Unilever Group
· J.M. Smucker
· ConAgra Foods
· Sioux Honey Association
· B & G Foods
· Ferrero
· Hershey
· Welch Foods
· Hormel Foods Corporation
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Recent Developments:
In January 2021, The J. M. Smucker Company SJM is on track to boost assortment strength. Keeping along these lines, the company’s iconic brand — Jif — unveiled plans to launch Jif Natural Squeeze Creamy Peanut Butter Spread.
In July 2020, Kraft Peanut Butter launched its new Kraft Hazelnut Spread - a delicious, rich, and chocolatey spread that is made with no palm oil and is low in saturated fat.
The Nut-Based Spread Market is segmented into various segments such as product type, category, distribution channel, and region:
On the basis of product type
· Peanut
· Almond
· Cashew
· Hazelnut
· Others.
On the basis of category
· Conventional
· Organic
On the basis of the distribution channel
· Store based
· Non-store based
On the basis of region
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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In addition to the market data for Nut-Based Spread Market, Delvens offers a client-centric report and customized according to the company’s specific demand and requirement.
Frequently Asked Questions
What are the years considered to study Nut-Based Spread Market intelligence report?
The Nut-Based Spread Market is studied from 2023-2030.
What is the compound annual growth rate (CAGR) of the Nut-Based Spread Market?
The Nut-Based Spread Market is growing at a CAGR of 7.2% during the forecast period.
Which region holds the largest market share in Nut-Based Spread Market?
North America holds the highest share in 2022 for Nut-Based Spread Market.
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