Global Almond Butter Market Size, Share, Growth Analysis, By By Nature(Organic, Conventional), By By Product type(Regular, Flavored) - Industry Forecast 2024-2031

Report ID: SQMIG30H2155 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 61 | Figures: 80

Global Almond Butter Market News

USD 10 million in Series A funding was raised by Barney Butter, a renowned supplier of almond butter to expand its production capacity and meet the rising demand for almond butter and other types of nut butter in February 2023.

Simply Nut Butter brand from Blue Diamond Almonds announced the launch of a new range of almond butter products that come in honey, chocolate, and cinnamon-roasted flavors in March 2023.

The Good Bean, a leading provider of plant-based foods launched almond butter cups in April 2023. These products were made using almond butter and dark chocolate. The cups also featured a wide array of toppings including nuts, sea salt, and different types of seeds.

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Global Almond Butter Market size was valued at USD 705.70 million in 2022 and is poised to grow from USD 760.74 million in 2023 to USD 1387.36 million by 2031, at a CAGR of 7.80% during the forecast period (2024-2031).

The competition is intense in the global almond butter market as companies are continually focusing on product innovation to boost their sales and market share. The growing popularity of nut butter owing to rising health consciousness is what almond butter suppliers are leveraging to boost their sales potential. Almond butter manufacturers are continually focusing on creating new almond butter with unique flavors and using creative marketing strategies to boost their sales potential. Digital campaigns and collaborations with fitness influencers are also popular strategies that are being adopted by almond butter vendors around the world. almond butter companies are also focusing on capitalizing on the surging popularity of veganism across the world. Market players are also focusing on maximizing their supply of organic almond butter to satisfy the quench for healthier food products among health-conscious people around the world. Sustainable packaging practice is also a key trend that almond butter manufacturers will be focusing on in the future. Companies are also focusing on including local flavors and tastes to attract consumers from different parts of the world by developing meaningful partnerships with local companies. 'Justin's (USA)', 'Pip & Nut (UK)', 'Naturally Nutty (USA)', 'Barney Butter (USA)', 'Alpro (Belgium)', 'Blue Diamond Almonds (USA)', 'Artisana Organics (USA)', 'Yumbutter (USA)', 'Buff Bake (USA)', 'California Almonds (USA)', 'Dastony (USA)', 'The J.M. Smucker Company (USA)', 'Meridian Foods (UK)', 'Once Again Nut Butter (USA)', 'Bulk Powders (UK)', 'Georgia Grinders (USA)', 'MaraNatha (USA)', 'Nuts'N More (USA)', 'Kevala (USA)', 'Nuts To You Nut Butter (Canada)', 'Biona Organic (UK)', 'Carley's (UK)', 'NuttZo (USA)', 'Woodstock Foods (USA)', 'Trader Joe's (USA)'

Almond butter is much healthier as compared to traditional peanut butter as it has more healthy fats and other essential nutrients. Growing consumer preference for foods with higher nutritional content around the world is forecasted to boost demand for almond butter in the future.

Growing Health and Wellness Consciousness: People are more health conscious than ever before and this increased focus on health and fitness is slated to be a key market trend in the future. Rising demand for healthier peanut butter alternatives and growing awareness regarding the benefits of almond butter consumption are also slated to open up new avenues of opportunities for market players in the long run. Protein-rich almond butter is slated to be high in demand going forward.

North America leads the world in terms of almond butter demand and holds a prominent market share. The high consumption of almond butter by people in this region and the growing production of the same are contributing to the significant market share of North America. The presence of key almond butter manufacturers and the rising popularity of the health benefits of almond butter in this region are driving the market growth. Growing health consciousness and the rising popularity of veganism are also boosting almond butter sales. The United States and Canada are leading markets.

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Global Almond Butter Market Size, Share, Growth Analysis, By By Nature(Organic, Conventional), By By Product type(Regular, Flavored) - Industry Forecast 2024-2031

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