Peanut Butter Market (By Product Type: Crunchy, Creamy & Others. By Distributional Type: Online Shop, Offline Shop, Supermarket & Hypermarket. By Application- Outdoor, Performance) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2022 – 2032

The global peanut butter market was valued at $4.9 billion in 2021 and it is expected to reach $10.2 billion at a CAGR of 6.8% between 2022 and 2032. Due to the rising demand among a large number of health-conscious consumers, the global peanut butter market is expected to witness significant growth over the upcoming years. 

By region, North America has led the global peanut butter market with significant share over the past few years.

The trend of health consciousness and awareness has driven the demand and consumption of high-protein food products. Due to the multiple health benefits of peanut butter, the global peanut butter market is expected to gain more growth opportunities during the forecast period. Additionally, it is also the most popular requested food item by food banks, working towards preventing global hunger. Along with this, a large number of consumers have become more aware of their health due to the rising cases of chronic diseases such as blood pressure and heart disease, as well as current opportunities for the peanut butter business would emerge over the upcoming years. Furthermore, in some nations, rising disposable income associated with increasing awareness across the globe is projected to fuel the growth of the market over the forecast period. COVID-19 had a positive effect on the global peanut butter market due to the spread of infection, hence, consumers turned towards healthy and nutritious food products to stay healthy and safe. Therefore, people have become more aware and they are purchasing peanut butter products more than before. These major factors are estimated to drive market growth over the upcoming years.

Source: SAI Research

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Based on product type, the global peanut butter market is segmented into crunchy, creamy, and others. The crunchy category holds the largest share of the market and is anticipated to fuel the market growth over the upcoming years due to the rising consumption and demand for crunchy peanut butter among a large number of consumers across multiple nations. This type of peanut butter is healthier and it has less saturated fats and more fiber compared to the creamy. On the other hand, creamy and other segments also accounted for the largest share of the market during the forecast period due to their higher consumption and rising demand among various people across several developed nations. 

Based on distributional type, the global peanut butter market is segmented into online shops, offline shops, supermarkets, and hypermarkets. Among these, the offline segment holds the maximum share of the market. The offline market includes hypermarkets and supermarkets is also accounted for the largest share of the market. These offline retail shops are widely available across the global market. Besides this, online retailers are also expected to lead the market due to their increasing demand among various consumers. After the COVID-19 pandemic, a lot of people have become aware of maintaining a physical distance. Thus, the online shop has grown over the past couple of years. Due to the increasing usage of smartphones and online shopping applications the online segment is also anticipated to lead the market growth in the upcoming years. 

Based on regions, the global peanut butter market is categorized into North America, Europe, Asia-Pacific, Latin America, and Africa. Among these, the North American region has been leading the market and is expected to hold its dominant position in the upcoming years. Most of the key players are situated in this region; hence, the peanut butter product is widely available across the region. Maximum usage of peanut butter products is usable in household segments. Therefore, companies are focusing on producing new peanut butter products for family people as well as for people who are suffering from several health issues and need high protein. Along with this, the Asia-Pacific region accounted for the maximum share of the market due to the rising product awareness in multiple developing countries such as India, China, South Korea, and Singapore, among others. New product launches, mergers, and acquisitions are also expected to accelerate market growth over the forecast period from 2022 to 2032.  

According to the study, key players such as Alpino (Italy), Algood Food Company (U.S), Conagra Brands (U.S), DiSano Foods (India), Hormel Foods (U.S), Pintola (India), Procter and Gamble (U.S), The Krafts Heinz Company (U.S), The Leavitt Corporation (U.S), Tyson Foods (U.S), The J.M Smucker Company (U.S), Unilever PLc (U.K), Wadia Group (India), among others are leading the global peanut butter market.

Scope of the Report:

 The Global Peanut Butter Market Has Been Segmented Into:

The Global Peanut Butter Market – by Product Type:

• Crunchy
• Creamy
• And Others

The Global Peanut Butter Market – by Distributional Type:

• Online Shop
• Offline Shop
• Supermarket
• Hypermarket

The Global Gene Therapy Market – by Regions:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • U.K.
  • France
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • Australia
  • Rest of Asia Pacific
• LAMEA

• Middle East
• Saudi Arabia
• UAE
• Others
• Latin America
• Brazil
• Chile
• Others
• Africa
• South Africa
• Egypt
• Others