Global Almond Butter Market, By Application (Food Industry, Cosmetics Industry, Other Applications), Distribution Channel (Online Retail, Hypermarkets and Supermarkets, Departmental Stores and Convenience Stores), Type (Raw Almond Butter, Roasted Almond Butter), – Industry Trends and Forecast to 2029
Market Analysis and Size
Almonds identified as a plant-based superfood, and as a result, they are becoming increasingly popular for the production of non-dairy products. Foods made with non-dairy almond protein powder and almond butter have proven nutritional benefits as well as exceptional flavour and texture. The clean flavour of almond butter allows it to be used to imitate typical dairy flavours, which increases its popularity.
Data Bridge Market Research analyses that the almond butter market was valued at USD 130.1 million in 2021 and is expected to reach the value of USD 246.21 million by 2029, at a CAGR of 8.30% during the forecast period of 2022-2029.
Market Definition
Almond butter is a food paste made from either roasted or raw almonds. Almond butter is high in unsaturated fats, which are good for your heart. It is also high in proteins, vitamins, and minerals. Almond butter has a slightly sweet, mild roasted almond flavour, and some manufacturers make almond butter from blanched almond, which tastes like peanut butter and is easy to digest. It has a creamy, smooth texture. Almond butter comes in a variety of flavours and textures.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2014 - 2019)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Application (Food Industry, Cosmetics Industry, Other Applications), Distribution Channel (Online Retail, Hypermarkets and Supermarkets, Departmental Stores and Convenience Stores), Type (Raw Almond Butter, Roasted Almond Butter)
|
|
Countries Covered
|
U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Denmark, Sweden, Poland, Turkey, rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Japan, Thailand, Indonesia, New Zealand, Vietnam, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, South Africa, Kuwait, Qatar, Oman, Saudi Arabia, U.A.E., and rest of the Middle East and Africa, Brazil, Argentina & rest of South America
|
|
Market Players Covered
|
Unilever (UK), Procter & Gamble (US), The J.M. Smucker Company (US), Hormel Foods Corporation (US), Boulder Brands (US), The Kraft Heinz Company (US), Algood Food Co. (US), Conagra Brands, Inc. (US), Britannia Dairy Private Limited (India), Hormel Foods Corporation (US), Justin's, LLC (US), The Leavitt Corporation (US), DiSano (India), Alpino (India), Pintola (India)
|
|
Opportunities
|
|
Global Almond Butter Market Dynamics
Drivers
- The rise in the adoption of almond butter as an healthy substitute
The key factors driving global demand for almond butter are an increase in consumer demand for healthy food options and changing food consumption patterns. Furthermore, the rising consumer preference for a wholesome breakfast consisting of ready-to-eat food items is expected to boost the almond butter market over the forecast period. Furthermore, shifting toward healthier foods to prevent cardiovascular disease and control blood sugar levels positively impacts the global almond butter market.
- The use of almond butter as an innovation in food products as well rise in almond butter production
Furthermore, almond butter can easily blend with essential oils and is hydrating, moisturising, and a natural emollient, making it an important component to be used in massage. Furthermore, rising demand for natural cosmetics and skin care products is expected to propel the global almond butter market forward. The availability of vitamins in almond butter such as vitamin A, B, and E, which is essential in the manufacturing of lotions and creams to increase their emollience and to make them extra rich, is expected to boost the target market growth.
Opportunity
Food and beverage manufacturers are considering the health benefits of almond butter and adding significant constituents to make products more delectable and nutritious. Aside from that, the use of almond butter for disease prevention and health maintenance is expected to fuel a positive growth in terms of value during the forecast period. Diversity in the usage of almond butter in end user industry will further create new opportunities for the almond butter market in the forecast period
Restraints
The availability of alternatives and the high cost and fat content of almonds are the major factors acting as restraints, and will continue to challenge the almond butter market during the forecast period.
This almond butter market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the almond butter market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Almond Butter Market
COVID-19 Pandemic is a worldwide pandemic that has affected many countries. It has wreaked havoc on the business and marketing fields. The supply chain was disrupted from one location to another due to transportation restrictions for export and import. Transport of raw materials such as almond butter and related items to industries is also restricted. As a result of a lack of raw materials and a lack of manpower, the manufacturing industries faced numerous challenges, leading to a shutdown. As a result, almond butter production is delayed. Reduced production results in decreased demand for the product. However, as the number of Corona cases decreases and the lockdowns are lifted, the almond butter market grows rapidly.
Recent Development
- Once Again has expanded its lineup in 2019 to include two new keto-friendly, organic blanched almond butter varieties, and extra creamy and crunchy.
- In 2019, Justin's introduced Organic Nut Butter Covered Nuts in two varieties: Almond Butter Covered Almonds and Cashew Butter Covered Cashew.
- Pip & Nut will release its first charity limited edition, Gingerbread Almond Butter, in 2020. It combines almond butter with the warming spices ginger and cinnamon.
Global Almond Butter Market Scope
The almond butter market is segmented on the basis of type, application and distribution channell. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Raw Almond Butter
- Roasted Almond Butter
Application
- Food Industry
- Cosmetics Industry
- Other Applications
Distribution channel
- Online Retail
- Hypermarkets
- Supermarkets
- Departmental Stores
- Convenience Stores
Almond Butter Market Regional Analysis/Insights
The almond butter market is analysed and market size insights and trends are provided by country, of type, application and distribution channel as referenced above.
The countries covered in the almond butter market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Denmark, Sweden, Poland, Turkey, rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Japan, Thailand, Indonesia, New Zealand, Vietnam, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, South Africa, Kuwait, Qatar, Oman, Saudi Arabia, U.A.E., and rest of the Middle East and Africa, Brazil, Argentina & rest of South America.
The North American market is expected to have a moderate revenue share of the global market. The Asia Pacific market is expected to grow the fastest in terms of revenue. Rising almond butter consumption and increased adoption in the cosmetics industry in countries such as India and China are expected to drive growth in the Asia-Pacific market. Furthermore, increased investment in the food industry by some of the major players is expected to drive growth of the target market in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Almond Butter Market Share Analysis
The almond butter market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to almond butter market.
Some of the major players operating in the almond butter market are:
- Unilever (UK)
- Procter & Gamble (US)
- The J.M. Smucker Company (US)
- Hormel Foods Corporation (US)
- Boulder Brands (US)
- The Kraft Heinz Company (US)
- Algood Food Co. (US)
- Conagra Brands, Inc. (US)
- Britannia Dairy Private Limited (India)
- Hormel Foods Corporation (US)
- Justin's, LLC (US)
- The Leavitt Corporation (US)
- DiSano (India)
- Alpino (India)
- Pintola (India)
SKU-