Almond Butter Market Forecast and CAGR
A recent study by future market insight projected the almond butter market to grow with a CAGR of 8.2% in the forecasted period. With the continuously growing need for clean-label and plant-based products from the globe’s increasing population, almond butter has become an increasingly popular spread, smoothie booster, snack and sauce thickener. Hence, embracing a healthy lifestyle around the world is further accelerating the global market for almond butter.
Additionally, innovation in the food & beverage industry, particularly in the plant-based food domain, with improved product appearance, texture, and taste while enhancing nutritional value and shelf life, has generated numerous opportunities for the almond butter market.
Growing Demand for Almond Butter as Creative Chocolate Development is Up Surging the Global Market
Nowadays, consumers are inclined to look for chocolate indulgences made in a sustainable manner. Moreover, with consumers changing consumption patterns to more bite-sized or on-the-go snacking has, replaced sitting down to traditional meals.
Additionally, almond butter’s indulgent and creamy texture is an opportunity for introducing both plant-based and crave able bona fides to chocolate snacks. This proposes that almond butter could remain to be an improved acceptance and use by chocolate consumers.
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Craveability, Versatility, and Nutrition to Drive Almond Butter Demand Globally
With rising consumption of snacks, bakery and dairy products, consumers are strongly influenced by the nutritional benefits of almond butter and the additional benefits of proteins, fiber, fats, vitamins and minerals. Moreover, consumers strongly agree that almond butter enriches the taste of other food while used as an ingredient.
Additionally, almond butter fits into meals and snacks occasions and consumers use the almond butter servings in variety of ways, including as a snack by itself, as a spread on toast or bread or with vegetables and fruits. Being an important source of good fats, and nutrients like vitamin E and magnesium there is an escalating demand for almond butter globally.
The US and Canada Demand Outlook for Almond Butter Market
In terms of sales, the North American market is projected to take the lead in the global target market. With increased consumption of healthy foods by U.S. consumers, nearly 20% of the consumers are inclined towards on-pack claims like “made with real ingredients” while buying food or beverage products.
The application of almond butter in snacking has improved vividly over the years is anticipated to fuel revenue progression of the almond butter market.
Moreover, almond butter has increased by 15.3% volume growth in US market over the last three years which is outpacing the overall nut butter category, hence promoting the almond butter market to grow at a high pace.
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Europe Almond Butter Market Outlook
The European almond butter market is estimated to grow at a moderate pace. Manufacturers are aiming on initiating new and innovative forms hence, almond butter companies are making swift progress concerning evolving innovative spreads options.
The market for almond butter is estimated to see swift growth through the projection period driven by huge investments done by market players in social media marketing, and promotional activities towards increasing plant-based trends and towards consumers wish to eat more healthy nutritional food products.
Almond Butter Market: Key Players
Some of the key players manufacturing almond butter market are as follows- Prana
- Barney Butter
- Solstice Canyon
- Premier Organics
- Futter’s Nut Butters
- Zinke Orchards
- Once Again Nut Butters
- California Almonds
- Cachhe Creek Foods
- Nuts’n MoreJustin’s
- Sokol & Company
- The J.M. Smucker Company
- Dakini Health Foods
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
Almond Butter Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Almond Butter: Market Segmentation
Based on type, the almond butter market can be segmented as-
- Raw Almond Butter
- Roasted Almond Butter
Based on application, the Almond Butter market can be segmented as-
- Food Industry
- Cosmetic industry
- Food Industry
Based on distribution channel, the almond butter market can be segmented as-
- Direct Sales
- Modern Trade
- Convenience Stores
- Departmental Store
- Specialty Store
- Online Retailers
- Other Sales Channels
Based on region, the almond butter market can be segmented as:
- North America
- U.S. and Canada
- Latin America
- Mexico, Brazil, Peru, Chile, Argentina and others
- Western Europe
- Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg
- Eastern Europe
- Poland and Russia
- Asia Pacific
- China, India, Japan, South Korea, Malaysia, Indonesia, Australia, and New Zealand
- The Middle East and Africa
- GCC, Southern Africa, and North Africa
- North America
Note: Although care has been taken to maintain the highest levels of accuracy in FACT.MR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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