Press Release

Almond Butter Market Gains Momentum as Consumers Worldwide Seek Healthier Food Alternatives

The Global Almond Butter Market is set to record around 7.7% CAGR during 2023-28, cites MarkNtel Advisors in their recent research report. The growing consumer awareness regarding healthier food options, especially after the Covid-19 pandemic, has resulted in a paradigm shift in individuals’ diet patterns. In view of the rising concerns regarding animal welfare, especially in developed nations, and the intensifying veganism trend, consumers are gravitating towards plant-based diets and natural or clean-label food products, leading to the burgeoning demand for healthier food alternatives, including almond butter, as its taste resembles typical dairy flavor.

Additionally, the growing consumer interest in premium & organic cosmetics and skin care products has also pushed the adoption of almond butter owing to its remarkable moisturizing & nourishing properties. Moreover, the allergen considerations & dietary limitations of consumers, accompanying the introduction of new flavors, organic options, & convenient packaging formats are also poised to create new directions for the market growth in the years to come, further states the research report, “Global Almond Butter Market Analysis, 2023.”

Market Segmentation

• By Type (Regular, Flavored)
• By Nature, (Organic, Conventional)
• By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Stores)
• By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
• By Country (US, Canada, Mexico, Brazil, Argentina UK, Germany, France, Italy, Spain, UAE, Saudi Arabia, South Africa, China, Japan, India, South Korea, Australia)

Flavored Almond Butter are Gaining Traction in the Global Market

As consumers continue to seek almond butter infused with certain flavors or aromas, the demand for flavored variants has risen dramatically in the past few years. Capitalizing on this opportunity, key market participants are introducing innovative alternatives for regular almond butter, such as a blend of chocolate, vanilla, cinnamon, & honey. Given the extensive availability of these options, followed by their growing popularity among consumers looking for variety & taste, the market for flavored almond butter is anticipated to boost in the coming years.

North America Remains at the Forefront, as the Largest Consumer & Producer of Almond Butter

North America has emerged as the most promising market for almond butter in recent years, primarily due to the intensifying health consciousness among individuals that necessitates the intake of natural & plant-based food products. In particular, the US market is relatively flourished as the country has recognized the versatility & richness of the product, making it an essential ingredient for various culinary applications like smoothies & baked goods. Given their massive popularity and adoption in numerous applications, almond butter is becoming widely available in supermarkets, health food stores, and e-commerce platforms, thereby elevating the North America Almond Butter Market.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Barney Butter, Hormel Foods (Justin's), Nutty Novelties, 8th Avenue Food & Provisions, Hallstar Company, The Hain Celestial Group, Inc., Cache Creek Foods, Nuts N More, Once Again, SOPHIM IBERIA S.L, Tree House Almonds, Blue Diamond Growers, Morrisons Ltd., The J.M. Smucker Company, Rolling Hills Nut Company and others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report:

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various countries?
6. How have the buying behavior, customer in- inclination, and expectations from product manufacturers been evolving during 2018-28?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?