As per the latest report by IMARC Group, titled “North America Peanut Butter Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the North America peanut butter market size reached US$ 1.5 Billion in 2019. Peanut butter is a food spread or paste made by grinding and dry-roasting peanuts. Other ingredients, such as sweeteners, salt and emulsifiers, are also added to enhance its taste and texture. Peanut butter is a rich source of vitamins E, B3 and B6, and a protein-rich alternative to dairy butter. As a result, it aids in improving heart health, blood sugar levels and reducing weight, if consumed in moderation. Peanut butter is widely utilized in salad dressings, vegetable sauces, soups, cornbread, meatloaves and boiled custard.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
North America Peanut Butter Market Trends:
In North America, peanut butter is considered a staple food and is served in households. It is used to prepare a wide variety of breakfast dishes and desserts, including brownies, muffins, cakes, stuffed celery, cookies, smoothies and croissants. On account of the hectic lifestyles and the increasing health-consciousness, consumers are shifting toward convenient and nutritious breakfast and snack options, like peanut butter, as compared to processed snacks. This has spurred the sales of peanut butter as it has a rich nutritional profile, consisting of iron, potassium, zinc, selenium and antioxidants, like p-coumarin and resveratrol. Moreover, manufacturers have launched numerous peanut butter variants, including creamy, crunchy/chunky, natural, and honey roasted, which are nutritious and low in calories and fats. Furthermore, the sudden outbreak of the coronavirus disease (COVID-19) has fueled the sales of shelf-stable products, including peanut butter. This trend has been supported by the social distancing and lockdown measures imposed in the United States and Canada. Looking forward, the market is projected to exhibit moderate growth during the forecast period (2020-2025).
- Based on the product type, the market has been segmented into crunchy, smooth and other types of peanut butter.
- On the basis of the distribution channel, the market has been categorized into supermarkets and hypermarkets, convenience, online and other stores.
- Country-wise, the report has covered the United States and Canada.
- The competitive landscape of the market has also been examined, with the detailed profiles of some of the leading players operative in the industry.
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