Peanut Butter Market Trends

Growth Drivers

Growing health awareness and health benefits attached to the peanut butter

Consumers are shifting towards healthy food products owing to rising awareness about wellbeing, and increasing incidences of obesity and other lifestyle diseases. Peanut butter holds a high quantity of essential nutrients and dietary fiber and is rich in minerals such as potassium and magnesium, which help in averting diseases and improves health. Consumption of peanut butter helps in reducing extra weight and it pulls down the risk of type II diabetes and gallstones. These are some of the key contributing factors which are responsible for boosting the growth of the global peanut butter market. 

 Additionally, an increase in per capita consumption in evolving nations,  growing influence of U.S. culture using peanut butter, and an increase of supermarkets and hypermarkets have led to the increased popularity of the peanut butter offered in the market. Further, companies are implementing novel promotional strategies such as TV campaigns to spread awareness about their healthy products.

Challenges

Low awareness among people in developing nations might hamper the market growth in the forecast period.

The overall market pause due to COVID-19 is also disturbing the movement of the market owing to the shutting down of factories, interruption in the supply chain, and a fall in the global economy.