Global Almond Butter Market Report Size, Trends, and Growth Opportunity, By Source (Raw Almond Butter, Roasted Almond Butter), By Application (Food Industry, Cosmetics Industry, Other Applications), By Distribution Channel (Online Retail, Hypermarkets, Supermarkets, Departmental Stores, Convenience Stores), By Region (North America, Europe, Asia Pacific, Latin America, the Middle East, and South Africa), and Forecast till 2027
Global Almond Butter Market
The global almond butter market was valued at USD 155.52 million in 2021 and is estimated to be worth USD 321.24 million, growing at a CAGR of 9.82% from 2022 to 2027.
In recent years, the rise of health-conscious consumers, particularly in developed economies, has been a major driver of almond butter demand. Plant-based diets are becoming more popular, and healthy eating is becoming more widely adopted, which contributes to market growth. According to the International Food Information Council's (IFIC) 2022 Food & Health Survey in the United States, 30% of respondents said that following a healthy eating pattern benefits them.
Almond butter is a paste made from roasted or raw almonds. Almond butter is high in unsaturated fats, which are heart-healthy. Moreover, it has a lot of protein, vitamins, and minerals. Almond butter has a mild, slightly sweet roasted almond flavour, and some manufacturers make almond butter from blanched almonds, which tastes like peanut butter and is easy to digest. It has a smooth, creamy texture. Almond butter is available in a variety of flavours and textures.
Market Drivers
An increase in consumer demand for healthy food options as well as changing food consumption patterns are driving global demand for almond butter. Furthermore, the growing consumer preference for a healthy breakfast consisting of ready-to-eat food items is expected to drive the almond butter market over the forecast period. Furthermore, the global almond butter market benefits from a shift towards healthier foods to prevent cardiovascular disease and control blood sugar levels.
Furthermore, almond butter is hydrating, moisturizing, and a natural emollient, making it an important component to use in massage. Furthermore, rising demand for natural cosmetics and skin care products is expected to drive growth in the global almond butter market. The availability of vitamins in almond butter, such as vitamin A, B, and E, which are required in the manufacturing of lotions and creams to increase their emollience and richness, is expected to boost target market growth.
Restraints
The availability of substitutes, as well as the high cost and fat content of almonds, are major restraints that will continue to challenge the almond butter market during the forecast period.
Impact analysis of COVID-19
The coronavirus outbreak has had a negative impact on the almond butter market, as well as all stages of the supply chain and value chain. The COVID-19 pandemic has not only hampered production facilities, but it has also disrupted supply chains such as raw material suppliers and distributors of the global almond butter market, resulting in a loss of business in terms of value sales.
Market Segmentation
The Almond Butter market is segmented into Source (Raw Almond Butter, Roasted Almond Butter), Application (Food Industry, Cosmetics Industry, Other Applications),, Distribution Channel (Online Retail, Hypermarkets, Supermarkets, Departmental Stores, Convenience Stores), and Region (North America, Europe, Asia Pacific, Latin America, the Middle East, and South Africa).
Regional Analysis
North America has the biggest market for almond butter, followed by Europe and Asia-Pacific. The North American market is being driven by rising consumer health consciousness and demand for healthy and nutritious food. The Asia-Pacific market is expected to grow at the fastest CAGR during the forecast period, owing to rising disposable incomes and rising health consciousness among the region's consumers.
Key Players
The key players in the almond butter market are Barney Butter, Nutty Novelties, 8th Avenue Food & Provisions, Hallstar, The Hain Celestial Group, Inc., Cache Creek Foods, Nuts 'N More, and SOPHIM IBERIA S.L.
Market Taxonomy
Source
• Raw Almond Butter
• Roasted Almond Butter
Application Outlook
• Food Industry
• Cosmetics Industry
• Other Applications
Distribution Channel
• Online Retail
• Hypermarkets
• Supermarkets
• Departmental Stores
• Convenience Stores
Regional Outlook
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and South Africa
Global Almond Butter Market
1 Introduction
1.1 Objective the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Almond Butter Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Almond Butter Market, By Source
5.1 Y-o-Y Growth Comparison, By Source
5.2 Global Almond Butter Market Share Analysis, By Source
5.3 Global Almond Butter Market Size and Forecast, By Source
5.3.1 Raw Almond Butter
5.3.2 Roasted Almond Butter
6 Global Almond Butter Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2Global Almond Butter Market Share Analysis, By Application
6.3 Global Almond Butter Market Size and Forecast, By Application
6.3.1. Food Industry
6.3.2. Cosmetics Industry
6.3.3 Other Applications
7 Global Almond Butter Market, By Distribution Channel
7.1 Y-o-Y Growth Comparison, By Distribution Channel
7.2 Almond Butter Market Share Analysis, By Distribution Channel
7.3 Almond Butter Market Size and Forecast, By Distribution Channel
7.3.1 Online Retail
7.3.2. Hypermarkets
7.3.3 Supermarkets
7.3.4 Departmental Stores
7.3.5 Convenience Stores
8 Global Almond Butter Market, By Region
8.1 Global Almond Butter Market Share Analysis, By Region
8.2 Global Almond Butter Market Size and Forecast, By Region
North America Almond Butter Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 North America Almond Butter Market Size and Forecast, By Source
9.3 North America Almond Butter Market Size and Forecast, By Application
9.4 North America Almond Butter Market Size and Forecast, By Distribution Channel
9.5 North America Almond Butter Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Almond Butter Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Europe Almond Butter Market Share Analysis, By Source
10.3 Europe Almond Butter Market Size and Forecast, By Application
10.4 Europe Almond Butter Market Size and Forecast, By Distribution Channel
10.5 Europe Almond Butter Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4 Rest of Europe
11 Asia Pacific Almond Butter Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Asia Pacific Almond Butter Market Share Analysis, By Source
11.3 Asia Pacific Almond Butter Market Size and Forecast, By Application
11.4 Asia Pacific Almond Butter Market Size and Forecast, By Distribution Channel
11.5 Asia Pacific Almond Butter Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12 Latin America Almond Butter Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Latin America Almond Butter Market Share Analysis, By Source
12.3 Latin America Almond Butter Market Size and Forecast, By Application
12.4 Latin America Almond Butter Market Size and Forecast, By Distribution Channel
12.5 Latin America Almond Butter Market Size and Forecast, By Country
12.5.1. Brazil
12.5.2. Rest of Latin America
13 Middle East Almond Butter Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Middle East Almond Butter Market Share Analysis, By Source
13.3 Middle East Almond Butter Market Size and Forecast, By Application
13.4 Middle East Almond Butter Market Size and Forecast, Distribution Channel
13.5 Middle East Almond Butter Market Size and Forecast, By Country
13.5.1. Saudi Arabia
13.5.2. UAE
13.5.3. Egypt
13.5.4. Kuwait
13.5.5. South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Barney Butter
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2. Nutty Noveltie
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3. 8th Avenue Food & Provisions
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Hallstar
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 The Hain Celestial Group, Inc
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Cache Creek Foods
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Nuts 'N More
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 SOPHIM IBERIA S.L
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
