South Korea Peanut Butter Market

South Korea Peanut Butter Market Overview:

The South Korea peanut butter market size reached USD 83.60 Million in 2024. Looking forward, the market is projected to reach USD 132.08 Million by 2033, exhibiting a growth rate (CAGR) of 4.68% during 2025-2033. The market is witnessing steady growth due to rising health awareness, increasing demand for protein-rich spreads, and the growing influence of Western food habits. Expanding retail presence, product innovations, and a shift toward plant-based diets are further fueling consumption. Both domestic and global brands are enhancing visibility through online and offline platforms. These factors are contributing to the rising South Korea peanut butter market share across key urban centers.

South Korea Peanut Butter Market Trends:

Growing Health-Conscious Innovations

The South Korea peanut butter market is experiencing notable growth driven by health-centric product innovations. As health-consciousness among consumers rises, there is an increasing desire for peanut butter options that are organic, low in sodium, and free from added sugars or artificial ingredients. For instance, In November 2024, Daesang Corp. launched Skippy No Sugar Added peanut butter in South Korea, available in Creamy and Chunky varieties. Both options contain 95% peanuts, are free from sugars and artificial sweeteners, and offer 22 grams of protein per 100 grams. This transformation aligns with wider dietary trends that prioritize clean-label, high-protein, and minimally processed foods. In response, brands are launching peanut butter products made from non-GMO peanuts, incorporating superfoods, and enhancing them with nutrients to cater to active lifestyles. These healthier alternatives not only attract fitness enthusiasts but also appeal to parents looking for improved snack choices for their children. Additionally, packaging is evolving to emphasize health claims and certifications, simplifying the decision-making process for consumers. This increase in better-for-you options is a significant factor behind the South Korea peanut butter market growth influencing both consumer habits and brand approaches.

Rising Demand for Premium and Flavored Variants

The peanut butter market in South Korea is seeing an increase in consumer interest, particularly in premium and flavored options, transforming this traditional spread into a gourmet delight. Innovative products like honey-infused, dark chocolate, chili-spiced, and cinnamon-flavored peanut butters are becoming popular among younger and more adventurous consumers. These variations not only elevate taste experiences but also position peanut butter as a versatile ingredient suitable for desserts, smoothies, and snacks. The popularity of premium textures such as creamy-crunchy combinations or artisanal small-batch spreads is also influencing buying habits. Companies are utilizing appealing packaging, limited-edition flavors, and social media promotion to stand out. This trend showcases a wider movement towards indulgence with a health-conscious twist, driving product innovation and market growth.

Plant-Based and Vegan Appeal Driving Demand

Peanut butter is becoming a key component in plant-based and vegan diets in South Korea, solidifying its role as a go-to source of affordable plant-based protein. With increasing awareness surrounding animal welfare, sustainability, and healthy eating, more consumers are actively opting for plant-derived alternatives to conventional protein sources. Peanut butter serves as a convenient, shelf-stable, and nutrient-rich option that fits well within vegan and flexitarian lifestyles. It’s being promoted not just as a spread but also as a vital ingredient in smoothies, baking, and meals focused on fitness. Brands are emphasizing vegan certifications, natural ingredients, and nutritional benefits to attract this expanding demographic. This emphasis on plant-based offerings is significantly influencing changing consumption trends and is propelling growth within the South Korea peanut butter market.

South Korea Peanut Butter Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on product type and distribution channel.

Product Type Insights:

• Crunchy Peanut Butter
• Smooth Peanut Butter
• Others

The report has provided a detailed breakup and analysis of the market based on the product type. This includes crunchy peanut butter, smooth peanut butter, and others.

Distribution Channel Insights:

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Stores
• Others

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes supermarkets and hypermarkets, convenience stores, online stores, and others.

Regional Insights:

• Seoul Capital Area
• Yeongnam (Southeastern Region)
• Honam (Southwestern Region)
• Hoseo (Central Region)
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

South Korea Peanut Butter Market News:

• In June 2025, Daesang partnered with Megabox to launch limited-edition Skippy peanut butter popcorn in South Korea. This new snack combines Megabox's popular caramel popcorn with Skippy’s rich peanut butter flavor. The collaboration aims to showcase Skippy’s appeal, following Daesang's exclusive distribution of the brand's products since 2013.

South Korea Peanut Butter Market Report Coverage:

Key Questions Answered in This Report:

• How has the South Korea peanut butter market performed so far and how will it perform in the coming years?
• What is the breakup of the South Korea peanut butter market on the basis of product type?
• What is the breakup of the South Korea peanut butter market on the basis of distribution channel?
• What is the breakup of the South Korea peanut butter market on the basis of region?
• What are the various stages in the value chain of the South Korea peanut butter market? 
• What are the key driving factors and challenges in the South Korea peanut butter market?
• What is the structure of the South Korea peanut butter market and who are the key players?
• What is the degree of competition in the South Korea peanut butter market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the South Korea peanut butter market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the South Korea peanut butter market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the South Korea peanut butter industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.