Almond Butter Market Analysis

Almond Butter Market Analysis

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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.