The global peanut butter market reached a value of US$ 3.5 Billion in 2018, exhibiting a CAGR of 5.8% during 2011-2018. Peanuts are an essential crop grown worldwide and are commercially used for the production of oil, butter, flour, confections and snack products. Amongst these, peanut butter is one of the most consumed food spreads and is made by grinding and dry-roasting peanuts. It is an energy-rich product, which is usually marketed as a substitute for milk butter. Other than energy, it also offers fiber, protein and unsaturated fats along with a set of micronutrients including magnesium, zinc, potassium and Vitamin E. Owing to this nutritional profile, it is used for the preparation of various food products, including salads, brownies, rolls, cakes, frostings, cornbreads and chocolates.
With rising obesity rates, consumers across the globe have started shifting towards healthier breakfast and snack options. For instance, in the UK, peanut butter is expected to overtake the sales of sweet spreads, like jam, as they are being targeted by the Public Health England (PHE) under the sugar reduction plan. Under this scheme, the PHE aims to reduce the overall amount of sugar present in the food consumed by children. Apart from this, on account of rising competition in the global market, manufacturers have been adopting innovative marketing strategies to reach a broader consumer base. In line with this, Hormel Foods, a US-based food products company, introduced a new advertising campaign for its peanut butter brand, Skippy, in 2018. The ad campaign, called ‘Be Smooth Like Skippy’, is a 15 to 30 second video which is aired on television and digital channels across the US. Attributing to these drivers, IMARC Group estimates that the market will grow at a CAGR of 5.5% during 2019-2024, reaching a value of around US$ 5 Billion by 2024.
Peanut Butter Market Segmentation:
Breakup by Product Type:
- Smooth Peanut Butter
- Crunchy Peanut Butter
- Others
Currently, smooth peanut butter is the most preferred product type in the market as it is easier to spread and mixes better with smoothies and desserts.
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
At present, supermarkets and hypermarkets account for the majority of peanut butter sales across the globe. These stores offer convenience and a wide range of brands and product variants to consumers.
Regional Insights:
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
On a regional basis, North America represents the biggest market for peanut butter, holding the majority of the total market share. This can be accredited to the easy availability of raw materials and the high disposable income of consumers in the region.
Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being:
- J.M. Smucker Co.
- Hormel Foods Corporation
- ConAgra Food Inc.
Key Questions Answered in This Report:
- How has the global peanut butter market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global peanut butter industry?
- What are the key product types in the global peanut butter industry?
- What are the major distribution channels in the global peanut butter industry?
- What are the price trends of peanut butter?
- What are the various stages in the value chain of the global peanut butter industry?
- What are the key driving factors and challenges in the global peanut butter industry?
- What is the structure of the global peanut butter industry and who are the key players?
- What is the degree of competition in the global peanut butter industry?
- What are the profit margins in the global peanut butter industry?
- What are the key requirements for setting up a peanut butter manufacturing plant?
- How is peanut butter manufactured?
- What are the various unit operations involved in a peanut butter manufacturing plant?
- What is the total size of land required for setting up a peanut butter manufacturing plant?
- What are the machinery requirements for setting up a peanut butter manufacturing plant?
- What are the raw material requirements for setting up a peanut butter manufacturing plant?
- What are the packaging requirements for peanut butter?
- What are the transportation requirements for peanut butter?
- What are the utility requirements for setting up a peanut butter manufacturing plant?
- What are the manpower requirements for setting up a peanut butter manufacturing plant?
- What are the infrastructure costs for setting up a peanut butter manufacturing plant?
- What are the capital costs for setting up a peanut butter manufacturing plant?
- What are the operating costs for setting up a peanut butter manufacturing plant?
- What will be the income and expenditures for a peanut butter manufacturing plant?
- What is the time required to break-even?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Sweet Spreads Industry
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Market Breakup by Region
5.4 Market Breakup by Product Type
5.5 Market Forecast
6 Global Peanut Butter Industry
6.1 Market Overview
6.2 Market Performance
6.2.1 Volume Trends
6.2.2 Value Trends
6.3 Market Breakup by Region
6.4 Market Breakup by Product Type
6.5 Market Breakup by Distribution Channel
6.6 Market Forecast
6.7 Price Analysis
6.7.1 Key Price Indicators
6.7.2 Price Structure
6.7.3 Price Trends
6.8 SWOT Analysis
6.8.1 Overview
6.8.2 Strengths
6.8.3 Weaknesses
6.8.4 Opportunities
6.8.5 Threats
6.9 Value Chain Analysis
6.9.1 Overview
6.9.2 Input Suppliers
6.9.3 Raw Material Procurement
6.9.4 Peanut Butter Manufacturers
6.9.5 Marketing
6.9.6 Distributors
6.9.7 Exporters
6.9.8 Retail Buyers
6.9.9 Institutional Buyers
6.10 Porter’s Five Forces Analysis
6.10.1 Overview
6.10.2 Bargaining Power of Buyers
6.10.3 Bargaining Power of Suppliers
6.10.4 Degree of Competition
6.10.5 Threat of New Entrants
6.10.6 Threat of Substitutes
6.11 Key Market Drivers and Success Factors
7 Peanut Butter Market: Performance of Key Regions
7.1 Asia Pacific
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 North America
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Europe
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Middle East and Africa
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Latin America
7.5.1 Market Trends
7.5.2 Market Forecast
8 Peanut Butter Market: Market by Product Type
8.1 Crunchy Peanut Butter
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Smooth Peanut Butter
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Others
8.3.1 Market Trends
8.3.2 Market Forecast
9 Peanut Butter Market: Market by Distribution Channel
9.1 Supermarkets and Hypermarkets
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Convenience Stores
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Online Stores
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Others
9.4.1 Market Trends
9.4.2 Market Forecast
10 Competitive Landscape
10.1 Market Structure
10.2 Market Share of Key Players
11 Peanut Butter Manufacturing Process
11.1 Product Overview
11.2 Detailed Process Flow
11.3 Various Types of Unit Operations Involved
11.4 Mass Balance and Raw Material Requirements
12 Project Details, Requirements and Costs Involved
12.1 Land Requirements and Expenditures
12.2 Construction Requirements and Expenditures
12.3 Plant Layout
12.4 Plant Machinery
12.5 Machinery Pictures
12.6 Raw Material Requirements and Expenditures
12.7 Raw Material and Final Product Pictures
12.8 Packaging Requirements and Expenditures
12.9 Transportation Requirements and Expenditures
12.10 Utility Requirements and Expenditures
12.11 Manpower Requirements and Expenditures
12.12 Other Capital Investments
13 Loans and Financial Assistance
14 Project Economics
14.1 Capital Cost of the Project
14.2 Techno-Economic Parameters
14.3 Product Pricing and Margins Across Various Levels of the Supply Chain
14.4 Taxation and Depreciation
14.5 Income Projections
14.6 Expenditure Projections
14.7 Financial Analysis
14.8 Profit Analysis
15 Key Player Profiles
List of Figures
Figure 1: Global: Sweet Spreads Industry Overview
Figure 2: Global: Sweet Spreads Market: Value Trends (in Billion US$), 2011 - 2018
Figure 3: Global: Sweet Spreads Market: Breakup by Region (in %), 2018
Figure 4: Global: Sweet Spreads Market: Breakup by Type (in %), 2018
Figure 5: Global: Sweet Spreads Market Forecast: Value Trends (in Billion US$), 2019-2024
Figure 6: Global: Peanut Butter Industry Overview
Figure 7: Global: Peanut Butter Market: Volume Trends (in '000 Tons), 2011-2018
Figure 8: Global: Peanut Butter Market: Value Trends (in Billion US$), 2011 – 2018
Figure 9: Peanut Butter: Price Structure (in US$/Ton)
Figure 10: Peanut Butter Price Trends (in US$/Ton), 2011-2018
Figure 11: Global: Peanut Butter Market: Breakup by Region (in %), 2018
Figure 12: Global: Peanut Butter Market: Breakup by Type (in %), 2018
Figure 13: Global: Peanut Butter Market: Breakup by Distribution Channel (in %), 2018
Figure 14: Global: Peanut Butter Market Forecast: Volume Trends (in ‘000 Tons), 2019-2024
Figure 15: Global: Peanut Butter Market Forecast: Value Trends (in Billion US$), 2019-2024
Figure 16: Global: Peanut Butter Industry: SWOT Analysis
Figure 17: Global: Peanut Butter Industry: Value Chain Analysis
Figure 18: Global: Peanut Butter Industry: Porter’s Five Forces Analysis
Figure 19: Asia Pacific: Peanut Butter Market (in ‘000 Tons), 2011 & 2018
Figure 20: Asia Pacific: Peanut Butter Market Forecast (in ‘000 Tons), 2019 – 2024
Figure 21: North America: Peanut Butter Market (in ‘000 Tons), 2011 & 2018
Figure 22: North America: Peanut Butter Market Forecast (in ‘000 Tons), 2019 – 2024
Figure 23: Europe: Peanut Butter Market (in ‘000 Tons), 2011 & 2018
Figure 24: Europe: Peanut Butter Market Forecast (in ‘000 Tons), 2019 – 2024
Figure 25: Middle East and Africa: Peanut Butter Market (in ‘000 Tons), 2011 & 2018
Figure 26: Middle East and Africa: Peanut Butter Market Forecast (in ‘000 Tons), 2019 – 2024
Figure 27: Latin America: Peanut Butter Market (in ‘000 Tons), 2011 & 2018
Figure 28: Latin America: Peanut Butter Market Forecast (in ‘000 Tons), 2019 – 2024
Figure 29: Global Peanut Butter Market: Crunchy Peanut Butter (in ‘000 Tons), 2011 & 2018
Figure 30: Global Peanut Butter Market Forecast: Crunchy Peanut Butter (in ‘000 Tons), 2019 – 2024
Figure 31: Global Peanut Butter Market: Smooth Peanut Butter (in ‘000 Tons), 2011 & 2018
Figure 32: Global Peanut Butter Market Forecast: Smooth Peanut Butter (in ‘000 Tons), 2019 – 2024
Figure 33: Global Peanut Butter Market: Sales Through Supermarkets and Hypermarkets (in ‘000 Tons), 2011 & 2018
Figure 34: Global Peanut Butter Market Forecast: Sales Through Supermarkets and Hypermarkets (in ‘000 Tons), 2019 – 2024
Figure 35: Global Peanut Butter Market: Sales Through Convenience Stores (in ‘000 Tons), 2011 & 2018
Figure 36: Global Peanut Butter Market Forecast: Sales Through Convenience Stores (in ‘000 Tons), 2019 – 2024
Figure 37: Global Peanut Butter Market: Sales Through Online Stores (in ‘000 Tons), 2011 & 2018
Figure 38: Global Peanut Butter Market Forecast: Sales Through Online Stores (in ‘000 Tons), 2019 – 2024
Figure 39: Peanut Butter Manufacturing: Detailed Process Flow
Figure 40: Peanut Butter Manufacturing: Conversion Rate of Feedstocks
Figure 41: Peanut Butter Manufacturing Plant: Proposed Plant Layout
Figure 42: Peanut Butter Manufacturing Plant: Packaging Requirements
Figure 43: Peanut Butter Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 44: Peanut Butter: Profit Margins at Various Levels of the Supply Chain
Figure 45: Peanut Butter Manufacturing Plant: Manufacturing Cost Breakup (in %)
List of Tables
Table 1: Global: Sweet Spreads Market: Key Industry Highlights, 2018 and 2024
Table 2: Global: Sweet Spreads Market Forecast: Breakup by Region, 2018 and 2024
Table 3: Global: Sweet Spreads Market: Market Forecast by Type, 2018 and 2024
Table 4: Global: Peanut Butter Market: Key Industry Highlights, 2018 and 2024
Table 5: Global: Peanut Butter Market Forecast: Breakup by Region, 2019-2024
Table 6: Global: Peanut Butter Market Forecast: Breakup by Product Type (in Million US$), 2019-2024
Table 7: Global: Peanut Butter Market Forecast: Breakup by Distribution Channel (in Million US$), 2019-2024
Table 8: Global: Peanut Butter Market: Competitive Landscape
Table 9: Global: Peanut Butter Market: Breakup by Key Players (in %)
Table 10: Peanut Butter Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 11: Peanut Butter Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 12: Peanut Butter Manufacturing Plant: Costs Related to Machinery (in US$)
Table 13: Peanut Butter Manufacturing Plant: Raw Material Requirements (in Tons/Day) and Expenditures (US$/Ton)
Table 14: Peanut Butter Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 15: Peanut Butter Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 16: Details of Financial Assistance Offered by Financial Institutions
Table 17: Peanut Butter Manufacturing Plant: Capital Costs (in US$)
Table 18: Peanut Butter Manufacturing Plant: Techno-Economic Parameters
Table 19: Peanut Butter Manufacturing Plant: Taxation and Depreciation (in US$)
Table 20: Peanut Butter Manufacturing Plant: Income Projections (in US$)
Table 21: Peanut Butter Manufacturing Plant: Expenditure Projections (in US$)
Table 22: Peanut Butter Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
Table 23: Peanut Butter Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in US$)
Table 24: Peanut Butter Manufacturing Plant: Profit and Loss Account