Peanut butter is a food paste essentially prepared from ground dry roasted peanuts. In comparison to other spreads, it is a low-calorie product with a high protein content and serves as an ideal substitute for milk butter. Largely used as a sandwich spread, it can either be used with other kind of spreads or in savory sauces, bakery products and smoothies. According to IMARC group, the global peanut butter market is presently worth US$ 3.3 Billion with its demand growing at a CAGR of around 6% during 2010-2017. A variety of flavours, new blends, rising disposable income of consumers and growing preferences for nutritious products are the major factors driving the growth of the global peanut butter market.
IMARC’s latest study “Peanut Butter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” has segmented the market on the basis of types. There are two main types of peanut butter available in the market - Crunchy and Smooth. Region-wise, North America currently represents the biggest market for peanut butter followed by Europe and Asia Pacific.
The report provides a comprehensive analysis for setting up a peanut butter manufacturing plant. The study covers all the requisite aspects of the global peanut butter market and provides an in-depth analysis of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the peanut butter industry in any manner.
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