New York, United States , March 29, 2024 (GLOBE NEWSWIRE) -- The Global Almond Butter Market Size is to Grow from USD 708.45 Million in 2023 to USD 1498.23 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 7.78% during the projected period.
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Almond butter is among the nut butter made from smashed almonds. Even though it has a peanut butter-type texture, it has its distinct flavor. It can be spread over toast or crackers, combined with breakfast smoothies, served as a fruit or vegetable dip, or used as a component or seasoning in a variety of recipes. Because almonds are high in dietary fiber, protein, healthy fats, vitamins, and minerals, almond butter is known for its health benefits. A new study discovered that almonds improve the intestinal flora by raising butyrate levels. Butyrate reduces inflammatory processes, reduces gastrointestinal difficulty, and cures disorders including irritable bowel syndrome (IBS) by preventing germs and bacteria from invading the blood. Almond butter contains a variety of compounds that support cardiac health and reduce the chance of future cardiac events. Omega-3 fatty acids can help reduce irregular heartbeats. Vitamin E may help prevent the formation of plaque in the arteries. Furthermore, the development of dairy butter allergies and increasing concern for the welfare of animals has led to veganism's growing popularity. besides being vegan, the growing proportion of vegans is a major driving force in the almond butter industry. Almond butter production is strongly dependent on raw ingredient accessibility, and changes in almond crop yield can affect almond pricing and supply. Almond butter shortages caused by a scarcity of raw ingredients tend to drive up prices and hinder revenue development.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & & charts from the report on the "Global Almond Butter Market Size, Share, and COVID-19 Impact Analysis, By Nature (Organic, Conventional), By Product Type (Regular, Flavored), By Distribution Channel (B2C, B2B), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The organic segment is expected to grow at the fastest pace in the global almond butter market during the anticipation timeframe.
Based on the nature, the global almond butter market is divided into organic and conventional. Among these, the organic segment is expected to grow at the fastest pace in the global almond butter market during the anticipation timeframe. The increase in consumer awareness is driving the demand for organic vegan products in developing markets, leading to potential export growth for almond butter. Consumers are increasingly choosing organic and non-GMO options and are paying more attention to ingredient labels in processed foods.
The regular segment is expected to grow at the fastest pace in the global almond butter market during the anticipation timeframe.
Based on the product type, the global almond butter market is divided into regular, and flavored. Among these, the regular segment is expected to grow at the fastest pace in the global almond butter market during the anticipation timeframe. Consumers tend to prefer the natural and creamy taste of almonds without any additional flavors, helping the segment to remain dominant. The versatility of pure almond butter is also boosting its sales, especially in baking applications, leading to a larger market share. The product's healthy fat content makes it a popular choice among health-conscious consumers worldwide.
The B2B segment is expected to hold the largest share of the global almond butter market during the anticipation timeframe.
Based on distribution channels, the global almond butter market is divided into B2C and B2B. Among these, the B2B segment is expected to hold the largest share of the global almond butter market during the anticipation timeframe. The growing utilization of almond butter in the food and beverage processing sector, including dips, sauces, dressings, and soups, is fueling the growth of the B2B market. Furthermore, the popularity of almond butter-based cosmetics is contributing to the segment's growth. As manufacturers continue to invest in creating and manufacturing innovative confectionery products, the market demand for almond butter is on the rise.
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North America is expected to hold the largest share of the global almond butter market over the anticipation timeframe.
North America is expected to hold the largest share of the global almond butter market over the anticipation timeframe. The rise in almond butter consumption in this region has led to a boost in production levels, strengthening North America's market share in the industry. Leading almond butter manufacturers and the surge in demand for its health benefits have played a key role in driving market growth. The increasing interest in health-conscious living and the rise in veganism are also fueling the sales of almond butter. The top markets for almond butter products remain in the United States and Canada, where consumers are increasingly attracted to the nutritional benefits and versatility of this popular nut spread.
Asia Pacific is predicted to grow at the fastest pace in the global almond butter market during the projected timeframe. The area is home to a significant number of people, making up more than half of the world's population. Anticipated factors driving growth in the region include increased consumption of almond butter and the use of skincare products in countries like India and China, as well as increased spending by key players in the food industry. Additionally, growing demand for organic and non-GMO butter is expected to further expand the market shortly.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global almond butter market include Treehouse Almonds, Petrow Food Group, Barry Callebaut AG, Big Tree Organic Farms, Harris Woolf Almonds, Rapunzel Naturkost, All Organic Treasures GMBH, Tapia Foods, Olam International Ltd., Napa Nuts, Justin's, Blue Diamond Almonds, Yumbutter, Dastony, And Others.
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Recent Developments
- In June 2023, the top almond marketer and processor in the world and Brightseed, a bioactives company and Global Innovator acknowledged by the World Economic Forum, have united to delve into the unexplored health potentials of nonpareil California almonds. This collaboration's results will significantly impact Blue Diamond's health progress and campaigns, particularly in educating consumers on the correlation between consuming almonds and diverse health benefits.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Almond Butter Market based on the below-mentioned segments:
Global Almond Butter Market, By Nature
- Organic
- Conventional
Global Almond Butter Market, By Product Type
- Regular
- Flavored
Global Almond Butter Market, By Distribution Channel
- B2C
- B2B
Global Almond Butter Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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