Almond Butter Market Size - By Product Type (Organic Almond Butter, Conventional Almond Butter, Raw Almond Butter, Roasted Almond Butter, Smooth Almond Butter, Crunchy Almond Butter), Packaging Type, End Use, Distribution Channel & Global Forecast, 2024 – 2032

Almond Butter Market Size

Almond Butter Market size was valued at USD 155 million in 2023 and is estimated to witness 11.1% CAGR from 2024 to 2032. Consumers these days have become health-conscious and are looking for products that align with their lifestyles. Almond butter, which is a healthier alternative to traditional spreads, meets this demand for healthy food. The nutritional value of almond butter will propel its market demand. Globally, there is an increasing acceptance of veganism and plant-based diets are witnessing popularity.
 

Almond butter has various health benefits as it contains a high amount of healthy fats, vitamins, proteins, and minerals. It is also a versatile ingredient that can be used in various cuisines.

Fluctuations in almond prices can impact the production cost of almond butter. The almond butter market pricing is majorly influenced by weather conditions, supply & demand dynamics, and global trade policies that can affect the cost & availability of almonds. These factors can thereby impact the profitability of almond butter manufacturers. Another factor influencing manufacturer profitability is the labeling of their products. Almond butter is an ideal substitute for consumers with peanut or tree nut allergies; hence, it is important for manufacturers to clearly label their products and indicate the presence of allergens as well as implement ethical production practices to prevent cross-contamination.
 

The almond butter market is becoming increasingly competitive owing to the entry of numerous brands & product offerings. The market is also witnessing price competition and continuous product innovations & differentiation among manufacturers to gain a competitive edge in the market.
 

COVID-19 Impact

The COVID-19 pandemic led to disruptions in the supply chain due to the implementation of lockdown measures, transportation restrictions, and labor shortages. These measures negatively affected various industries, including the almond butter market. Disruptions in the almond butter supply chain affected the availability of almonds, production processes, and distribution, thereby leading to supply shortages and increased final product prices. Another significant impact on the almond butter induatry during the COVID-19 pandemic was the declining demand for almond butter in bulk or food service-sized quantities owing to the closure of restaurants, cafes & other food service outlets. The decreased product demand from the commercial sector affected the overall market growth.
 

However, the pandemic led to an increased focus on health & wellness among consumers, leading to a demand for natural & healthy food products such as almond butter. E-commerce platforms also witnessed an increased adoption during this period due to the demand for contactless grocery shopping. The subsequent reduction in COVID-19 cases and implementation of strategies by government & non-government organizations are projected to fuel the industry growth.
 

Almond Butter Market Trends

The demand for almond butter is growing as it aligns with the rising plant-based & vegan diet trends. Its ability to substitute animal-based spreads, further makes it popular in vegan diets. As it is a healthier & more sustainable choice, the market is witnessing diversification, thereby catering to varied consumer preferences. To boost the market share, companies are introducing various flavors in their products, which include chocolate, honey, and coconut-infused almond butter varieties. Along with flavors, manufacturers are also providing varied textures, such as creamy & crunchy almond butter, in their products to meet consumer preferences.
 

Almond Butter Market Analysis

The organic almond butter market held over USD 56 million revenue in 2022. Organic almond butter is manufactured from organic almonds, i.e., they are free of chemical fertilizers, synthetic pesticides & Genetically Modified Organisms (GMOs). Growing consumer preference for healthy and environmental-friendly food products is driving the market demand. Changes in consumption patterns, the demand for a satisfying eating experience, and the versatility of crunchy almond butter in various recipes are driving the crunchy almond butter segment demand. The growing usage and ability of various almond butter types to meet consumer preferences, taste profiles & dietary requirements will accelerate market revenue.
 

The Jars segment accounted for 40% of the almond butter market share in 2022, attributed to the popularity of glass containers as a packaging solution among consumers. This packaging solution is transparent, allowing consumers to view the product inside; provides a premium & high-quality appearance; and allows easy storage & scooping out. Also, products packed in jars are perceived as fresh & pure. The market is also witnessing growth in the squeeze packs segment as they provide portion control, mess-free application, and the convenience of on-the-go consumption. As they are easy to carry, these packs are a better option during travel or outdoor activities, driving segment growth during the study period.
 

The almond butter market from spread and dip segment is anticipated to expand at 10.9% CAGR through 2032. Consumers are increasingly opting for healthy snacking options, which has led to the demand for almond butter as a spread & dip. Also, due to its high nutrition content, almond butter is rapidly being substituted for traditional spreads & dips.
 

Almond butter is used in various cuisines owing to changing dietary preferences and health consciousness among consumers. These factors have led to product adoption in various food centers and households, thereby propelling market value.
 

The supermarkets & hypermarkets held a dominant almond butter market share in 2022, due to the fact that they are major retail outlets that provide consumers with the option to select, i.e., the type and brand of their choice. The provision of convenience, product availability, and consumer preferences are a few factors driving industry demand through other distribution channels.
 

The U.S. almond butter market was reached USD 44 million revenue in 2022. Consumers in North America are moving toward nutritious & natural food products, leading to the demand for almond butter. Almond butter is witnessing popularity in the region due to its health benefits. It is a healthy substitute for conventional nut butter due to its high nutritional content, which includes vitamins, protein, fats, fiber, and minerals. The rising trend of vegan & plant-based diets in North America is further propelling the demand for almond butter.
 

Almond Butter Market Share

Major companies operating in the 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
• Justins.

These companies focus on strategic partnerships, new product launches, and commercialization efforts for market expansion. They are heavily investing in research to introduce innovative products and garner maximum revenue in the market.
 

Almond Butter Industry News

• In August 2022, Justin's has released a new honey almond butter flavor that is blended with real honey and toasted almonds.
   
• In November 2022, Justin's, LLC and Applegate Farms, LLC announced a collaboration with Conscious Alliance, a non-profit organization that fights hunger in communities around the United States. Through Conscious Alliance's food rescue and distribution programs, the cooperation aimed to provide healthy, sustainable food to those in need.
   

This almond butter market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) & volume (Kilo Tons) from 2018 to 2032, for the following segments:

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Market, By Product Type

• Organic Almond Butter
• Conventional Almond Butter
• Raw Almond Butter
• Roasted Almond Butter
• Smooth Almond Butter
• Crunchy Almond Butter

Market, By Packaging Type

• Jars
• Tubs
• Squeeze Packs
• Bulk Packaging

Market, By End Use

• Spread & Dip
• Bakery & Confectionery
• Snacks & Bars
• Beverages
• Personal Care Products

Market, By Distribution Channel

• Supermarkets & Hypermarkets
• Convenience Stores
• Online Retailers
• Health Food Stores
• Specialty Stores

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE