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CATEGORY BREAKDOWN

NUT BUTTER

Take a look at what’s happening in the Nut Butter category with our global insights, opportunities and our predictions for the future.

📙CATEGORY SNAPSHOP

  • Seen as a modern ‘super-food’ – nut butters offer consumers a plant-based and high-nutritional food source. 

 

  • Market value for all nut butters has been increasing -but peanut butter is becoming less dominant over time.

 

  • Growth is being driven by – increasing consumer-consciousness around health.

 

  • Further growth – you’ve probably seen peanut butter in everything from smoothies to noodles lately, and this is only going to expand further!

📊  THE NUMBERS

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  • Nut Butter Forecasted Growth / CAGR

📚 Sub-Categories

⌛️ CATEGORY LANDSCAPE

  • The nut butter market has been growing – as consumers look for healthier alternatives, with fewer artificial colours and preservatives.

 

  • As many as 6% of consumers are now vegan –  contributing to the growing demand for nut butters as an alternative to dairy products. 

 

 

  • Nut butters are increasingly viewed as – a food for weight loss – the high protein and fibre content leaves consumers fuller for longer. 

 

 

  • There’s a large demand for –  innovative and new types of nut butter, seeing a rise in a ‘luxury’ market within the industry catering to different tastes.

 

  • In recent years nut butter has beenmaking ground on fruit preserve jams in the spreads market, and has become top-dog in the category.

💡 WHAT’S IN STORE FOR NUT BUTTERS?

  • Nut butters are expected to grow – with a strong CAGR as they appeal to a range of dietary needs. 

 

  • This growth is driven by – the rise in plant-based diets, consumers seeking healthier choices, and rising costs of fresh produce. 

 

  • Despite rising prices – consumers are still willing to pay for healthier choices, contributing to nut butters’ continued growth. 

 

  • Global temperature rising is – allowing more countries to start producing nuts, which could drive costs down in the future.  

 

  • Variability intexture, taste, and ingredients mean more and more variants are being spread into the market. 
    • This means in many cases there’s a greater demand for small-scale nut butter production than mass produced brands of the past.

 

  • Whilst the overall demand for nut butters is rising – consumer preferences are changing and becoming more niche: it opens the door to innovative new products.

🏁  SOME CATEGORY PLAYERS

UK – Manilife, Yumello, Biona, Organic Kitchen, Pip & Nut

USA –  Big Spoon Roasters, Wild Friends Foods, TBH

Europe – The Nut Club (Spain), KoRo (Germany), Tikal Nuts (Spain) 

🔮  3 PREDICTIONS

  1. We expect to see a rise in small players –  offering niche nut butters to meet specific dietary needs, textures, and tastes. 

  2. Competition between – different types of nut butter could intensify, as consumers debate over which is the healthiest.

  3. Growth will bestrong and sustained throughout the market: nut butters meet the ever-growing demand for both plant-based and healthier diets.

🌈  3 OPPORTUNITIES

  1. Nut butters were used – more in baking during lockdown…despite consumers loving this use, it’s not widely marketed!

     

  2. Soy nut butter is a relatively new –  addition to the market, but is a great alternative for consumers with nut allergies. Alongside this, Powdered peanut butter offers a low calorie alternative for consumers, but is not widely known about or sold.

  3. We expect to see nut butter brands producing more and more innovate flavours, including collabs with other brands and the inclusion of functional ingredients such as turmeric, lentil powder, live cultures, etc

All data is correct at time of writing. 

BRAND BREAKDOWNS

Check out some of our Brand Breakdowns in the Nut Butter Category!

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