DUBAI, United Arab Emirates, April 04, 2022 (GLOBE NEWSWIRE) -- According to Future Market Insights, business to consumer (B2C) model has become more important in the food and beverage sector due to social media influence and growing preference for online purchasing. Hence, several almond butter manufacturers are turning towards B2C practices to serve customers globally.
| Almond butter Market Size (2022) | US$ 643.0 Mn | |
| Almond butter Market Projected Size (2032) | US$ 1.2 Bn | |
| Value CAGR (2022-2032) | 6.7% | |
| Top 3 Countries’ Market Share | 37.6% | |
The B2C model supports an expanded customer reach in the global market at minimum costs. Penetration of online retail platforms such as Walmart, Amazon, Tesco, Costco, and others are propelling the sales of almond butter.
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Consumers extensively prefer online platforms with zero-contact purchasing. Hence, B2C has emerged as a major strategy for players in the almond butter market.
“Availability of numerous brands of almond butter under one roof in supermarkets and hypermarkets provides customers more options, aiding the growth in the global almond butter market. Over the assessment period, the customer-centric strategy and improved shopping experience will continue to draw consumer attention and drive market statistics.,” said a lead analyst at FMI.
The inflow of Massive Investment from Venture Capitalists
Vegan food products are booming in the global market, prompting a slew of capital investors to invest money into vegan food manufacturing firms. Vegan food producers are eyeing financial backup to expand their operations and cater to an international clientele. In the U.S, investments totalled US$ 747 million in 2019, up 11% from the previous year.
Other countries, such as the U.K., Germany, Australia, Japan, and India, are witnessing an upsurge in vegan food production investment. For instance, in 2019, Miyoko's Creamery, a startup based in the United States, received $6 million in B series funding. Katjesgreenfood, a Katjes Group affiliate, has invested in Fora, a European vegan butter business.
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Growing Flexitarian Population to Boost Demand for Almond Butter
Economists have dubbed 2019 as the vegan year, owing to the market's rapid rise and rising vegan product consumption. Veganism, however, is only one pillar of the burgeoning business.
The market's expansion is also due to the quick increase in the number of flexitarian consumers. Traditional dairy-based butter eaters are increasingly identifying as flexitarians, to reduce, their consumption of animal-based goods.
Hence, some of the leading companies offering almond butter are Olam International Ltd., Treehouse Almonds, Petrow Food Group, Barry Callebaut AG, Big Tree Organic Farms, Harris Woolf Almonds, Rapunzel Naturkost, All Organic Treasures GMBH, Tapia Foods, Napa Nuts, Caro Nut Company, United Food India, Royal Nut Company, and Other.
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Get Valuable Insights into the Almond butter market
Future Market Insights, in its new offering, provides an unbiased analysis of the Almond butter market presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-to 2032.
The study divulges compelling insights on the Almond butter market based on Nature (Organic Almond Butter and Conventional Almond Butter), Form (Spreads, Liquid, and Blocks), By End-Use (Food and Beverage Industry, HoReCa, and Household Retail), By Sales Channel (Business to Business and Business to Consumer), and across seven major regions.
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About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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