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Peanut Butter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

March 2023 | 142 pages | ID: P69AA287B18EN
IMARC Group

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The global peanut butter market size reached US$ 4.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028.

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.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global peanut butter market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type and distribution channel.

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
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

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 competitive landscape of the market has also been analyzed in the report with the detailed profiles of the key players operating in the market.

Key Questions Answered in This Report

1. What is the market size for the global peanut butter market?
2. What is the global peanut butter market growth?
3. What are the global peanut butter market drivers?
4. What are the key industry trends in the global peanut butter market?
5. What is the impact of COVID-19 on the global peanut butter market?
6. What is the global peanut butter market breakup by product type?
7. What is the global peanut butter market breakup by distribution channel?
8. What are the major regions in the global peanut butter market?
9. Who are the key companies/players in the global peanut butter market?
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 Impact of COVID-19
6.4 Market Breakup by Region
6.5 Market Breakup by Product Type
6.6 Market Breakup by Distribution Channel
6.7 Market Forecast
6.8 Price Analysis
  6.8.1 Key Price Indicators
  6.8.2 Price Structure
  6.8.3 Price Trends
6.9 SWOT Analysis
  6.9.1 Overview
  6.9.2 Strengths
  6.9.3 Weaknesses
  6.9.4 Opportunities
  6.9.5 Threats
6.10 Value Chain Analysis
  6.10.1 Overview
  6.10.2 Input Suppliers
  6.10.3 Raw Material Procurement
  6.10.4 Peanut Butter Manufacturers
  6.10.5 Marketing
  6.10.6 Distributors
  6.10.7 Exporters
  6.10.8 Retail Buyers
  6.10.9 Institutional Buyers
6.11 Porter’s Five Forces Analysis
  6.11.1 Overview
  6.11.2 Bargaining Power of Buyers
  6.11.3 Bargaining Power of Suppliers
  6.11.4 Degree of Competition
  6.11.5 Threat of New Entrants
  6.11.6 Threat of Substitutes
6.12 Key Market Drivers and Success Factors

7 PEANUT BUTTER MARKET: PERFORMANCE OF KEY REGIONS

7.1 North America
  7.1.1 United States
    7.1.1.1 Market Trends
    7.1.1.2 Market Forecast
  7.1.2 Canada
    7.1.2.1 Market Trends
    7.1.2.2 Market Forecast
7.2 Asia Pacific
  7.2.1 China
    7.2.1.1 Market Trends
    7.2.1.2 Market Forecast
  7.2.2 Japan
    7.2.2.1 Market Trends
    7.2.2.2 Market Forecast
  7.2.3 India
    7.2.3.1 Market Trends
    7.2.3.2 Market Forecast
  7.2.4 South Korea
    7.2.4.1 Market Trends
    7.2.4.2 Market Forecast
  7.2.5 Australia
    7.2.5.1 Market Trends
    7.2.5.2 Market Forecast
  7.2.6 Indonesia
    7.2.6.1 Market Trends
    7.2.6.2 Market Forecast
  7.2.7 Others
    7.2.7.1 Market Trends
    7.2.7.2 Market Forecast
7.3 Europe
  7.3.1 Germany
    7.3.1.1 Market Trends
    7.3.1.2 Market Forecast
  7.3.2 France
    7.3.2.1 Market Trends
    7.3.2.2 Market Forecast
  7.3.3 United Kingdom
    7.3.3.1 Market Trends
    7.3.3.2 Market Forecast
  7.3.4 Italy
    7.3.4.1 Market Trends
    7.3.4.2 Market Forecast
  7.3.5 Spain
    7.3.5.1 Market Trends
    7.3.5.2 Market Forecast
  7.3.6 Russia
    7.3.6.1 Market Trends
    7.3.6.2 Market Forecast
  7.3.7 Others
    7.3.7.1 Market Trends
    7.3.7.2 Market Forecast
7.4 Latin America
  7.4.1 Brazil
    7.4.1.1 Market Trends
    7.4.1.2 Market Forecast
  7.4.2 Mexico
    7.4.2.1 Market Trends
    7.4.2.2 Market Forecast
  7.4.3 Others
    7.4.3.1 Market Trends
    7.4.3.2 Market Forecast
7.5 Middle East and Africa
  7.5.1 Market Trends
  7.5.2 Market Breakup by Country
  7.5.3 Market Forecast

8 PEANUT BUTTER MARKET: BREAKUP 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: BREAKUP 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 TABLES

Table 1: Global: Sweet Spreads Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Peanut Butter Market: Key Industry Highlights, 2022 and 2028
Table 3: Global: Peanut Butter Market Forecast: Breakup by Region (in ‘000 Tons), 2023-2028
Table 4: Global: Peanut Butter Market Forecast: Breakup by Product Type (in ‘000 Tons), 2023-2028
Table 5: Global: Peanut Butter Market Forecast: Breakup by Distribution Channel (in ‘000 Tons), 2023-2028
Table 6: Global: Peanut Butter Market: Competitive Landscape
Table 7: Global: Peanut Butter Market: Key Players
Table 8: Peanut Butter Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 9: Peanut Butter Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 10: Peanut Butter Manufacturing Plant: Costs Related to Machinery (in US$)
Table 11: Peanut Butter Manufacturing Plant: Raw Material Requirements (in Tons/Day) and Expenditures (US$/Ton)
Table 12: Peanut Butter Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 13: Peanut Butter Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 14: Details of Financial Assistance Offered by Financial Institutions
Table 15: Peanut Butter Manufacturing Plant: Capital Costs (in US$)
Table 16: Peanut Butter Manufacturing Plant: Techno-Economic Parameters
Table 17: Peanut Butter Manufacturing Plant: Taxation and Depreciation (in US$)
Table 18: Peanut Butter Manufacturing Plant: Income Projections (in US$)
Table 19: Peanut Butter Manufacturing Plant: Expenditure Projections (in US$)
Table 20: Peanut Butter Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
Table 21: Peanut Butter Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in US$)
Table 22: Peanut Butter Manufacturing Plant: Profit and Loss Account

LIST OF FIGURES

Figure 1: Global: Sweet Spreads Industry Overview
Figure 2: Global: Sweet Spreads Market: Volume Trends (in '000 Tons), 2017-2022
Figure 3: Global: Sweet Spreads Market: Value Trends (in Billion US$), 2017-2022
Figure 4: Global: Sweet Spreads Market: Breakup by Region (in %), 2022
Figure 5: Global: Sweet Spreads Market: Breakup by Product Type (in %), 2022
Figure 6: Global: Sweet Spreads Market Forecast: Volume Trends (in ‘000 Tons), 2023-2028
Figure 7: Global: Sweet Spreads Market Forecast: Value Trends (in Billion US$), 2023-2028
Figure 8: Global: Peanut Butter Industry Overview
Figure 9: Global: Peanut Butter Market: Volume Trends (in '000 Tons), 2017-2022
Figure 10: Global: Peanut Butter Market: Value Trends (in Billion US$), 2017-2022
Figure 11: Peanut Butter Market: Price Structure
Figure 12: Global: Peanut Butter Market: Price Trends (in US$/Ton), 2017-2022
Figure 13: Global: Peanut Butter Market: Breakup by Region (in %), 2022
Figure 14: Global: Peanut Butter Market: Breakup by Product Type (in %), 2022
Figure 15: Global: Peanut Butter Market: Breakup by Distribution Channel (in %), 2022
Figure 16: Global: Peanut Butter Market Forecast: Volume Trends (in ‘000 Tons), 2023-2028
Figure 17: Global: Peanut Butter Market Forecast: Value Trends (in Billion US$), 2023-2028
Figure 18: Global: Peanut Butter Industry: SWOT Analysis
Figure 19: Global: Peanut Butter Industry: Value Chain Analysis
Figure 20: Global: Peanut Butter Industry: Porter’s Five Forces Analysis
Figure 21: North America: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 22: North America: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 23: United States: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 24: United States: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 25: Canada: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 26: Canada: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 27: Asia Pacific: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 28: Asia Pacific: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 29: China: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 30: China: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 31: Japan: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 32: Japan: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 33: India: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 34: India: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 35: South Korea: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 36: South Korea: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 37: Australia: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 38: Australia: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 39: Indonesia: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 40: Indonesia: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 41: Others: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 42: Others: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 43: Europe: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 44: Europe: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 45: Germany: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 46: Germany: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 47: France: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 48: France: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 49: United Kingdom: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 50: United Kingdom: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 51: Italy: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 52: Italy: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 53: Spain: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 54: Spain: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 55: Russia: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 56: Russia: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 57: Others: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 58: Others: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 59: Latin America: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 60: Latin America: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 61: Brazil: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 62: Brazil: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 63: Mexico: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 64: Mexico: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 65: Others: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 66: Others: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 67: Middle East and Africa: Peanut Butter Market (in ‘000 Tons), 2017 & 2022
Figure 68: Middle East and Africa: Peanut Butter Market Forecast (in ‘000 Tons), 2023-2028
Figure 69: Global: Peanut Butter Market: Crunchy Peanut Butter (in ‘000 Tons), 2017 & 2022
Figure 70: Global: Peanut Butter Market Forecast: Crunchy Peanut Butter (in ‘000 Tons), 2023-2028
Figure 71: Global: Peanut Butter Market: Smooth Peanut Butter (in ‘000 Tons), 2017 & 2022
Figure 72: Global: Peanut Butter Market Forecast: Smooth Peanut Butter (in ‘000 Tons), 2023-2028
Figure 73: Global: Peanut Butter Market: Others (in ‘000 Tons), 2017 & 2022
Figure 74: Global: Peanut Butter Market Forecast: Others (in ‘000 Tons), 2023-2028
Figure 75: Global: Peanut Butter Market: Sales through Supermarkets and Hypermarkets (in ‘000 Tons), 2017 & 2022
Figure 76: Global: Peanut Butter Market Forecast: Sales through Supermarkets and Hypermarkets (in ‘000 Tons), 2023-2028
Figure 77: Global: Peanut Butter Market: Sales through Convenience Stores (in ‘000 Tons), 2017 & 2022
Figure 78: Global: Peanut Butter Market Forecast: Sales through Convenience Stores (in ‘000 Tons), 2023-2028
Figure 79: Global: Peanut Butter Market: Sales through Online Stores (in ‘000 Tons), 2017 & 2022
Figure 80: Global: Peanut Butter Market Forecast: Sales through Online Stores (in ‘000 Tons), 2023-2028
Figure 81: Global: Peanut Butter Market: Sales through Other Distribution Channels (in ‘000 Tons), 2017 & 2022
Figure 82: Global: Peanut Butter Market Forecast: Sales through Other Distribution Channels (in ‘000 Tons), 2023-2028
Figure 83: Global: Peanut Butter Market: Breakup by Key Players (in %)
Figure 84: Peanut Butter Manufacturing: Detailed Process Flow
Figure 85: Peanut Butter Manufacturing: Conversion Rate of Feedstocks
Figure 86: Peanut Butter Manufacturing Plant: Proposed Plant Layout
Figure 87: Peanut Butter Manufacturing Plant: Packaging Requirements
Figure 88: Peanut Butter Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 89: Peanut Butter: Profit Margins at Various Levels of the Supply Chain
Figure 90: Peanut Butter Manufacturing Plant: Manufacturing Cost Breakup (in %)


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