Adventurous cooking and health offerings of peanut butter are propelling the demand as well as profits. Peanut butter market has significant penetration in western countries, 90% of the United States households consume peanut butter as bread spread. Changing consumer behaviour in Asia-Pacific region has offered perennial opportunities for the market players. Various M&A activities has recently took place which clearly proves the interest of market players to expand their revenue share in Asia Pacific region.

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Changing lifestyle of consumers and inclination towards the consumption of convenient food is driving the demand of peanut butter across the world. Increasing personal disposable income mainly in developing countries is raising the demand of high nutritional value based foods. This is likely to fuel the peanut butter market in the near future. A burger topped with peanut butter sauce at McDonald’s is certainly an innovative interpretation of peanut butter in to food menu. Peanut butter as savory sauce is gaining popularity among consumers due to its unique taste. Nearly 35% people of US prefer new items in their food featuring unique taste. Moreover, peanut butter in burger is also attracting consumers in countries such as China and India. This unique innovation is expected to increase the demand of peanut butter in the near future. The global peanut butter market segmentation has been carried out on the basis of product type and distribution channel. Distribution channel is further segment into online and offline sales. Among offline channel supermarkets and retail stores are expected to witness remarkable growth in the near future. Availability of large variety of products and freedom to choose among varieties is likely to drive the growth of offline distribution channel of peanut butter. Geographically, Asia-Pacific region is the fastest growing region for peanut butter market over the forecast period of 2016-2024. Asia-Pacific peanut butter market valued USD 0.38 billion in 2016 and is anticipated to witness notable growth over the forecast period. Growing awareness about health benefits and increasing focus on production of peanuts in emerging economies such as China and India is expected to boost the demand of peanut butter in the region.

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Market Segmentation
The global peanut butter market is segmented on following basis:
• Based on Product Type
o Creamy Peanut Butter
o Crunchy/Chunky Peanut butter
o Natural/ Regular Peanut Butter
o Low-fat Peanut Butter
• Based on Distribution Channel
o Online
o Offline
• Based on Geography
o North America (U.S. & Canada)
o Latin America ( Brazil , Mexico & Rest of Latin America)
o Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE)
o Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia)
o Middle East & Africa (GCC, South Africa, North Africa, RoMEA)
o Rest of World

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“Global Peanut Butter Market Outlook 2024” contains detailed overview of the global peanut butter market in terms of market segmentation by product type and by distribution channel.
Further, for the in-depth analysis, the peanut butter market report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.

Global peanut butter market report also includes provides competitive outlook of some of the major players of the global peanut butter market which includes profiling of companies the J.M. Smucker Co., Hormel Foods Corporation, Kraft Canada Inc., Algood Food Company Inc. etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global peanut butter market trends that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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