Selbyville, Delaware, Nov. 12, 2023 (GLOBE NEWSWIRE) --
The almond butter market valuation is expected to cross USD 430 million by 2032, as reported in a research study by Global Market Insights Inc.
The rise of snacking trends and the demand for convenient, on-the-go options will support industry growth over the next ten years. In March 2021, Pretzels, Inc., a renowned producer of pretzels and various snack items, unveiled a new addition to its product range – pretzels filled with almond butter. This expansion enhances Pretzels' existing lineup of snacks, catering to consumer preferences for delicious, filling, and nutritious pretzel-based snacks. Furthermore, Pretzels is collaborating with multiple retailers to provide premium private-label options for almond butter-filled products, further diversifying their offerings in the market. Intensifying efforts by key market players, in line with the rising demand for vegan and plant-based snacks will strengthen the market outlook.
Conventional almond butter market could exhibit a decent growth rate from 2023 to 2032, claims the report. consumers are increasingly seeking healthier food options, and almond butter is considered a nutritious choice. Second, it's a versatile ingredient, suitable for various culinary applications. Additionally, its natural, nutty flavor and creamy texture make it a popular choice for sandwiches, snacks, and recipes. These factors collectively fuel the growing contribution of conventional almond butter in the market share.
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The almond butter market from the squeeze packs packaging segment will register a noteworthy CAGR between 2023 and 2032, as per the report. These convenient, portable single-serve packs offer consumers a mess-free and on-the-go snacking option. With busy lifestyles and a focus on portion control, squeeze packs provide a hassle-free way to enjoy almond butter as a healthy and satisfying snack. The almond butter industry demand in squeeze packs reflects the evolving preferences of today's health-conscious and convenience-seeking consumers. Therefore, the squeeze packs are further stimulating the industry revenue streams.
Asia Pacific almond butter market is projected to register a robust CAGR during 2023 to 2032, owing to a growing awareness of the health benefits associated with almond-based products and the increasing health-conscious consumer base in the region. Additionally, a shift towards Western dietary trends and a rising preference for plant-based options are driving almond butter sales. The market is also witnessing product innovation, further enticing consumers in the Asia Pacific region. Besides, changing dietary habits, health consciousness, and expanding product choices are propelling the almond butter industry size in North America.
Major players involved in almond butter market 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 and Justins.
Companies in the almond butter market are employing various strategies to enhance their market presence, including product diversification, expanding distribution networks, launching innovative almond-based products, and emphasizing health and sustainability to attract health-conscious consumers. These tactics aim to solidify their foothold and capitalize on the growing demand for alternative nut butter options.
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For instance, in September 2023, Justin's, a leading brand committed to real-food products and positive contributions, launched the #JustinMyLunch campaign to highlight the importance of nutritious meals during the stressful back-to-school season. In collaboration with Conscious Alliance, they aim to alleviate hunger during September's Hunger Action Month. The digital campaign encourages consumers to share their lunch-packing routine on Instagram using #JustinMyLunch. For each post, Justin's donates a 12oz jar of almond butter, up to 5,000 jars, to Conscious Alliance, supporting economically isolated communities.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Almond butter industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Regional trends
2.4 Product type trends
2.5 Packaging type trends
2.6 End-use trends
2.7 Distribution channel trends
Chapter 3 Almond butter Market Insights
3.1 Industry ecosystem analysis
3.1.1 Distribution channel analysis trends
3.1.2 Vendor matrix
3.1.3 COVID-19 impact on value chain
3.2 Raw material outlook
3.3 Regulatory landscape
3.3.1 North America
3.3.2 Europe
3.3.3 Asia Pacific
3.3.4 Latin America
3.3.5 Middle East & Africa
3.4 Technology landscape
3.5 Pricing analysis, by region
3.5.1 North America
3.5.2 Europe
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 Middle East & Africa
3.6 Cost structure Analysis
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls and challenges
3.8 Innovation & sustainability
3.9 Growth potential analysis
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer’s power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.11 PESTEL analysis
3.12 Impact of COVID-19 on industry, by end use
3.13 Impact of Russia Ukraine war on the industry
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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