(Food-Beverage-News.Com, March 08, 2018 ) North America Peanut Butter Market was worth USD 950 million in 2017 and estimated to be growing at a CAGR of 10.54%, to reach USD 1.57 billion by 2022. Peanut Butter is a food paste or spread which is made from ground dry roasted peanuts. It often contains additional ingredients which modify the texture or taste, such as sweeteners, salt or emulsifiers. Peanut butter is popular in many countries around the world.
Peanut butter is served as a spread on toast, bread or crackers, and used in making sandwiches notably the peanut butter and jelly sandwich. It is also used in numerous confections and packaged foods, such as Reese's Peanut Butter Cups which is made of chocolate-coated peanut butter, candy bars which are made from peanut butter-flavoured snickers and peanut-flavoured granola bars. Comparable preparations are made by grinding other nuts. A variety of other nut butters are also sold, such as almond butter and cashew butter.
The driving factors of North America Peanut Butter market are growing demand for nutritious products coupled with increasing disposable income of consumers particularly in developing countries. Other drivers that are driving growth of peanut butter market are emergence of hectic life schedule and growing demand for low calorie healthy food. Changing lifestyle and shift towards the intake of convenient food are also some factors which are expected to drive the peanut butter market in the forecast period. Major constraint that is expected to hinder the growth of the peanut butter market is the availability of peanut at competitive prices coupled with fluctuating peanut production.
The North America Peanut Butter market is segmented on the basis of product type and distribution channel. On the basis of product type, peanut butter market is segmented into plain, regular, low sodium and low sugar. Among the segments of this market, regular peanut butter holds the largest share which is followed by other segments. Low sodium peanut butter is expected to have fastest growth in the forecast period. On the basis of distribution channel, the market is divided into hypermarkets, supermarkets, retailers and others. In the above segment, supermarket segment is expected to have the largest share which is followed by hypermarkets and retailers.
Key points:
· Introduction
· Research Methodology
· Overview
· Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
· Market Segmentation
· Geographical Analysis
· Strategic Analysis
· Market Leaders' Analysis
· Competitive Landscape
· Expert Opinions
The North America Peanut Butter market is divided based on geography into United States, Canada and Mexico. North America region has the largest market for peanut butter in the world by share, owing to high disposable incomes per capita in the region. In the North America region, United States has the largest share. It is also the largest exporter to peanut butter in the world by country. Factors such as growing demand for healthy foods and changing lifestyles are expected to drive the market growth in the region.
Some of the major players in the market are Procter & Gamble, Unilever, The J.M. Smucker Company, Hormel Foods Corporation, Boulder Brands Inc., Kraft Canada Inc., Algood Food Company Inc.
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