Nut Butters Market: Introduction
The ‘nut butters’ is a generic term for any type of spreadable food products prepared from blended or crushed nuts. The nut butters have gained popularity from the last few years and the demand is increasing considerably. In initial days the peanut butter was the only substitute to the dairy butters, but over the past few years, the technological advancements and the increasing consumer awareness regarding the nut butters or plant-based butters, has steered the growth of myriad varieties of plant-based butters.
The nut butters are sourced from various nuts and seeds that are enriched with protein, essential fatty acids, fiber, and other health beneficial nutrients. These days' various type of plant-based or nut butters are available in the global market including peanut butter, almond butter, soy butter, pistachio butter, sesame butter, and cashew butter among others etc. These plant-based butters are normally prepared by roasting, crushing/grinding and store at a low temperature. Apart from food industry, the nut butters have wider applications in the cosmetics and personal care industry that is increasing its demand in the global market.
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Rising Demand For Plant-based Butters Boosting the Overall Market Growth
The rising health concerns regarding dairy butter consumption because of its fat content has increased the demand for the alternative plant-based butters such as seeds, and nut butters. Seeds and nuts are high nutrient value foods and have been regular components of human diet since past times. Nut butters are generally consumed as spreads over various snacks and food products as they work as taste enhancers, handy to use.
The nut butters are enriched with antioxidants, and various vital vitamins (B7, C & E) and minerals such as manganese, selenium, along with phenols, flavonoids, polyphenols, and magnesium. That prevents cancer, maintains blood cholesterol level and blood pressure, and also prevents CVDs (Cardiovascular Diseases). Moreover, increasing incidences of dairy butter-based food allergies along with awareness regarding animal welfare have contributed to the growing trend for veganism. Apart from veganism, the vegetarian population are another key factor that is propelling the growth of nut butters market.
Nut Butters: Segmentation
The nut butters market is segmented on the basis of nature, product type, grade, packaging, end-use industry, and sales channel.
Based on nature, the global nut butters market is segmented as-
Based on product type, the global nut butters market is segmented as-
Based on grade, the global nut butters market can be segmented as-
- Food Grade
- Cosmetics Grade
Based on packaging, the global nut butters market is segmented as-
- Squeeze Packs
Based on end-use industry, the global nut butters market is segmented as-
- Ice-cream Parlor
- Cosmetics and Personal Care
- Hair Care
- Skin Care
- Color Cosmetics
- Dietary Supplements
- Functional food
Based on sales channel, the global nut butters market is segmented as-
- Store-based Retailing
- Specialty Stores
- Discount Stores
- Modern Grocery Stores
- Traditional Grocery Stores
- Other Store-based Retailing
- Online Retailing
- Store-based Retailing
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Nut Butters: Key Players
Some of the leading players of global nut butters market include Hormel Foods Corporation, Justin's, Nuttzo, The J. M. Smucker Co., Hain Celestial, Bliss Nut Butters, Funky Nut Company, Barney & Co. California, LLC, NuttZo Co, Krema Nut Company, CACHE CREEK FOODS, Once Again Nut Butter, Funky Nut Company, Georgia Grinders, Futter’s Nut Butters, Wild Friends, Barney Butter, Big Spoon Roasters, Yumbutter, Blue Mountain Organics, Nuts’N More, and Eliot’s Adult Nut Butters among others.
Nut Butters: Opportunities
The prominent manufacturers are incessantly endeavoring to build up their market positions and trying to hold more share along with control by undertaking initiatives including product/flavor innovation, product portfolio expansion, mergers and acquisitions, and exploration of fluctuating key market trends.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.