Nut Based Spreads Market By Product Type (Peanut Based, Almond Based, Walnut Based, Cashews Based) And By Region - Global Industry Analysis, Size, Share, Growth, Trends And Forecasts (2017–2021)
Global Nut based spreads Market was worth USD 6.1 billion in 2016 and estimated to be growing at a CAGR of 7.4%, to reach USD 8.72 billion by 2021. Peanut butter has led the way for other nut-based spreads like almond, cashew, macadamia nut, coconut and walnut to enter the industry and offer a wider variety of spreads for consumers.
Around 7.7% of consumers have switched from jam to peanut butter. The nut spread sales are largely dependent on the sales of bread.
Peanut butter and chocolate spreads are displacing jam and marmalade as the most popular breakfast spreads.
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The Global Nut based spreads market is driven by the rising consumer preference to replace jams by nut based spreads. The rising health consciousness among consumers has further given way to low calorie spreads.
The latest trend of food spreads becoming an integral part of every breakfast has led to a steady growth of the market.
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The Global Nut based spreads market is segmented on the basis of product type and by region. On the basis of product type, the market is segmented into peanut based spreads, almond based spreads, walnut based spreads, cashews based spreads and others.
- Market Segmentation
- Peanut Based Spreads
- Almond Based Spreads
- Walnut Based Spreads
- Cashews Based Spreads
- Y-o-Y Growth Analysis, By Product Type
- Market Attractiveness Analysis, By Product Type
- Market Share Analysis, By Product Type
The market has also been geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. In 2015, North America led the global Nut based spreads market in terms of market share.
The market for these Nut based spreads in Asia-Pacific area is amplifying because of more of consumption. The Asia-Pacific and other rising nations are foreseen to develop at a quick pace in the Nut based spreads market in the following years when compared with the seasoned markets of developed regions.
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The major players operating in the Global Nut based spreads drinks industry include J.M. Smucker, Kraft Foods, Unilever Group, ConAgra foods Inc., Sioux Honey Association, B & G Foods, Ferrero Group, Nestle, Hershey Co and Welch Foods Inc.
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