Peanut Butter Market
Report ID: SQMIG30I2436
Report ID: SQMIG30I2436
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Report ID:
SQMIG30I2436 |
Region:
Global |
Published Date: January, 2025
Pages:
185
|Tables:
61
|Figures:
70
Peanut Butter Market size was valued at USD 6.63 Billion in 2024 and is poised to grow from USD 7.09 Billion in 2025 to USD 12.08 Billion by 2033, growing at a CAGR of 6.9% during the forecast period (2026–2033).
The peanut butter market is growing rapidly owing to the increasing health consciousness among people all over the world. Increased awareness of exercise and the need for high protein snacks has led to the expansion of the market for peanut butter across the globe. At the same time, emerging trends such as the rise in chronic illnesses like high blood pressure and heart diseases will create new prospects for the peanut butter market. Also, the changing lifestyles with growing preference for ready to eat food products are also aiding in the expansion of the international market.
Moreover, surged disposable income among the populations in developing nations and enhanced education globally is expected to supplement the growth of the industry during the forecast period. Apart from that, enhanced penetration of the key players and increased new product development are likely to open new avenues for players in the industry to grow their product portfolio. The main factor limiting the market development is insufficient knowledge about the product among consumers within the Asia Pacific region, which affects the market uptake. Fluctuating production of peanuts and prices of peanuts are other factors that impede market progression.
Market snapshot - 2026-2033
Global Market Size
USD 6.2 billion
Largest Segment
Fastest Growth
Growth Rate
6.9% CAGR
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Global Peanut Butter Market is segmented by Type, Nature, Category, Distribution Channel and region. Based on Type, the market is segmented into Crunchy, Creamy and Other. Based on Nature, the market is segmented into Organic and Conventional. Based on Category, the market is segmented into Plain and Flavored. Based on Distribution Channel, the market is segmented into Offline and Online. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Based on type, the crunchy peanut butter segment is dominating the market with the largest peanut butter market share. Most of the time, the crunchy type of food is ideal for older infants since it has a variety of uses. In addition, it helps to ease teething and gives them the chance to experience harder textures. In turn, this helps strengthen their chewing skills which are very important in their oral motor development. As for the creamy variant, it was made out to be smooth in texture most specifically for younger infants so that they will help in transition from milk eating into eating solid foods. Moreover, the industry offers different types of products that are specifically designed to meet deficits or promote appropriate development. This variety of products enables parents to use the products that they see as more suitable for their children.
The creamy peanut butter segment is expected to grow at a significant CAGR during the forecast period. The smooth consistency of the creamy variant makes it effective in aiding young infants accustomed to a milk-based diet to transition to solid food. Notably, the market offers an array of specialized product types addressing particular nutritional or developmental impairment. This segment of the creamy category includes peanut butter mixed with other fruits and nuts or seeds. Nutritious value is on the rise with various companies launching products with other added ingredients. Such variety enables parents to choose combinations that best fit their children's needs.
Based on distribution channel, the offline segment is dominating the peanut butter market. The offline segment of the distribution channel includes hypermarkets, department stores, supermarkets, convenience stores, specialty stores, and more. The higher market share of the offline segment is credited to its long-established nature and widespread availability across the world. Moreover, the majority of consumers still prefer shopping at offline distribution channels as it presents product verification, authenticity, and guarantee. These factors are increasing the growth of offline stores, leading to the expansion of the market.
As per peanut butter market analysis, online segment is experiencing tremendous growth and popularity in recent years. The more widespread adoption of e-commerce websites and the establishment of online merchants throughout the globe enhance the market reach and increase the expansion of the segment. In addition, the expansion of the online segment is expected to be fueled by the higher usage of the Internet and smartphones. Several factors such as ease of use, and simple payment methods also increased the demand for online platforms during the recent pandemic because people could easily order from the comfort of their home. These factors are helping in the expansion of the market, resulting in market growth.
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North America is dominating with the largest peanut butter market share. Increased consumption of peanut butter in the U.S is the main reason for the region's dominance in terms of market share. As per the National Peanut Board, one of the American popularized flavors, peanut butter, is regularly consumed at least once by 90% of the households in U.S. The greater market share is due to even larger output of peanuts and more producers in conjunction with a greater knowledge of the product in North America. Furthermore, easy access, higher income, and well-developed retail industry support the increased demand and consumption of peanut butter within the region.
Over the course of the projected period, it is anticipated that Asia Pacific would expand with the highest growth rate. It is mainly due to the increasing product awareness in countries of India, China, Japan, South Korea, etc, that is expected to drive the higher growth rate of the region. The demand for processed foods in the region is being propelled by rising disposable income and changing in lifestyle patterns. Market participants are launching peanut butter products and are taking major steps to tap the regional market potentials. New product introduction and new entrants in the region, along with the growth in the retail industry are anticipated to drive the market growth over the forecast period.
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Increasing Rate of Obesity Propelled by Urbanization
Rising Demand for Ready to Eat Products
Fluctuating Raw Material Prices
High Percentage of People with Allergies
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The global peanut butter industry is highly concentrated. There are some large global players and a couple of small or medium local players in the market. The global market is dominated by certain key players. There are new entrants coming up in the market all around the world due to the increasing awareness of the product. Key players are interested in entering new geographical areas, expanding production, innovating and launching new products. To enhance products offerings to more consumers some of the market players have also been involved in introducing new product variation by fortification with the other nutritious ingredients. Given the growing consumer base and the growing accessibility, the key players intend to grow their global market share.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, recent years the global peanut butter industry have expand significantly, with consumers becoming more reliant on quick and healthy meal solutions. Peanut butter, which is no longer just a source of protein in North America, is now appealing to new markets. Some of that increase in demand is due to growing knowledge of the benefits of consuming peanuts, which are rich in healthy fats, vitamins, and minerals. Additionally, there has been some level of progress on the global peanut butter market with the addition of various flavour blends and formulations to suit the market. Also, increased use of ecommerce platforms made the purchase of peanut butter easier for consumers worldwide which in turn boosted the market.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 6.63 Billion |
| Market size value in 2033 | USD 12.08 Billion |
| Growth Rate | 6.9% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Peanut Butter Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Peanut Butter Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Peanut Butter Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Peanut Butter Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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