According to IMARC Group’s latest report, titled “Peanut Butter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global peanut butter market reached a value of US$ 3.4 Billion in 2020. Peanut butter is a creamy, rich brown smooth paste, which is extensively utilized for preparing desserts, breakfast dishes, and sandwiches. It is further utilized as an alternative to milk butter and is an excellent source of magnesium, proteins, zinc, and unsaturated fats. Currently, it is commercially available in two varying types, such as smooth and crunchy forms.
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The escalating competition in the global market is compelling the manufacturers to adopt new marketing strategies to sensitize and broaden the consumer base, which is one of the key factors primarily driving the market growth. For instance, On June 22, 2020, Skippy, a U.S.-based peanut butter brand, launched its campaign across the U.S. on various traditional and digital platforms. Apart from this, the rising obesity levels across the globe have compelled consumers to look for healthier alternatives, such as peanut butter, from the sweet-based spreads, which is creating a positive outlook for market growth. Looking forward, IMARC Group expects the peanut butter market to grow at a CAGR of 5.4% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Breakup by Product Type:
- Smooth Peanut Butter
- Crunchy Peanut Butter
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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