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Market Overview:
The Nut Butter Market size is estimated to reach $41.8 Billion by 2031, growing at a CAGR of 7.2% during the forecast period 2025-2031, according to a report published by IndustryARC, titled, "Nut Butter Market - By Type (Peanut Butter, Almond Butter, Cashew Butter, Walnut Butter, Hazelnut Butter, Pistachio Butter, Macadamia Butter and Others), By Form (Creamy, Crunchy and Others), By Source (Organic and Conventional), By Packaging (Jars, Tubs & Containers, Squeeze Packs, Pouches and Others), By Seasoning (Salted and Unsalted), By Flavor (Plain, Honey, Chocolate, Maple and Others), By Distribution Channel (Online and Offline), By Geography - Opportunity Analysis & Industry Forecast, 2025-2031.
Nut butter emerges as a popular choice among health-conscious consumers driven by the rising prevalence of lactose intolerance and the growing demand for plant-based dairy alternatives. With an increasing number of individuals seeking nutritious and dairy-free options, nut butter stands out as a versatile and protein-rich solution. The surge in veganism further fuels its adoption
North America Dominated the Market in 2024
North America held the largest share of 34% in 2024 in the nut butter market driven by high consumer awareness of health and wellness trends and a strong preference for nutrient-rich, plant-based foods. The region's well-established food processing industry and widespread availability of nut butter products in various retail formats further contribute to its leadership. Additionally, the popularity of peanut butter drives significant demand. Peanut butter is considered a good source of healthy fats, according to the American Heart Association. The American Diabetes Association recommends peanut butter as part of a low-carb snack.
Nut Butter Market: Key Takeaways
Growing Popularity of Veganism
The global shift towards health-conscious lifestyles amplified the demand for plant-based products. Due to the awareness about sustainability and environmental consciousness, a significant portion of the population identifies as vegan. For instance, recent report in 2023 revealed that 850,000 Canadians identified as vegan, as per Made in CA. The need for vegan food is also spurred by health benefits. In a 2023 survey, 52% of Gen Z vegans said they chose their diet for the health benefits. Some studies have shown that following a healthy vegan diet can boost cardiovascular health, prevent and reverse diabetes and help people lose weight. In response to the growing demand for vegan food, several brands are launching nut butters.
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Innovations in Flavored Nut Butter
The nut butter market is experiencing significant growth driven by innovations in flavored varieties such as honey, chocolate, salted caramel, maple and others. These flavors appeal to a broader range of consumers, particularly those who seek indulgent yet nutritious nut butters. In August 2024, Fit Butters collaborated with the team at Post Consumer Brands to create two new cashew butters. The new nut butters come in Fruity Pebbles and Cocoa Pebbles flavors. Flavored nut butter combines the health benefits of nut butter with the taste preferences of consumers, providing an attractive option for those transitioning to dairy-free lifestyles and to children. With growing demand for both flavor and functionality, flavored nut butters offer a versatile option.
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Recent Developments
• In October 2024, Manilife announced a new nut butter production facility in Shirebrook with an investment of $1.3 million in the new 13,500 sq. ft. facility which will open in Q1 2025.
• In August 2024, Arla Foods launched Lurpak Plant Based Butter into the UK and Danish retail markets. Lurpak Plant Based is suitable for spreading, cooking and baking.
Nut Butter Market: Competitive Landscape
Key companies profiled in the Nut Butter Market are The J.M. Smucker Co., Hain Celestial, ConAgra Foods, Oetker Group, Arla Foods Group, Hormel Foods, The Kraft Heinz Company, NuttZo, KP Snacks, Barney Butter and Others
Related Reports:
Clarified Butter Market- Clarified Butter Market size is forecast to reach $5.9 Billion by 2031, after growing at a CAGR of 6.9% during 2025-2031 owing to its versatility in food, personal care and pharmaceuticals.
Spreadable Fats Market- Spreadable Fats Market size is projected to reach $1.2 Billion by 2030, growing at a CAGR of 4.9% during 2024-2030. Rising consumption of butter in variety of dishes among consumers and growing consciousness about health is the major factor driving the growth of the market
Plant Based Ice Cream Market- The Plant based ice cream market size is estimated to reach $3.9 Billion by 2031, growing at a CAGR of 10.7% during the forecast period 2025-2031 due to the rising demand for vegan and lactose-free products
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IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
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