Nut-Based Spreads Market Size and Forecast to 2025

1. Awareness of nutritional benefits augments the Global Nut-Based Spreads Market Market overview: The global Nut Based Spreads Market was at USD 12.35 billion in 2019 and is determined to reach a valuation of USD 24.62 billion by the end of 2025 at a CAGR of 9.12% during the anticipated period. Nut-based spreads are increasing in consumption among consumers due to the nutritional benefits of spreads and different texture than regular spreads. Nuts and seeds continue to gain popularity as ingredients in recipes, snacks, spreads, and delicacies. According to the National Institutes of Health (NIH), nut-based spreads are rich in phytochemicals that prevent a variety of cancers, including prostate cancer, colon cancer, and breast cancer. Market Drivers and Restrains: Nut-based spreads have enormous health benefits and are a great source of amino acids, lipids, proteins, and fatty acids that drive market growth. Nut-based spreads are increasing in consumption among consumers due to the nutritional benefits of the spreads and the different texture than regular spreads. Peanut-based spreads have a higher preference than other nut-based spreads and are therefore consumed worldwide. The relatively high protein content of peanut-based spreads compared to other nut-based spreads has appealed to fitness enthusiasts in recent years. Peanut-based spreads are cream in color and consist of a peanut paste and stabilizer. It also contains sweeteners, salts, emulsifiers, and other ingredients. Peanut butter also paves the way for other nut-based spreads, such as almonds, cashews, and walnuts, enters the industry and offers consumers a wider range of spreads. Athletes and other physique-conscious people are taking peanut-based spreads like peanut butter every day as part of their diet. Hazelnut spread is the second largest segment with only almond spread ahead. Hazelnuts also contribute to chocolate and other nut-based spreads. Consumers looking for a variety of healthy spreads are also boosting the market for hazelnuts. Consumers on a plant- based diet are the main users of nut-based spreads. As the demand for higher quality and tastier products grows, the transition from jams to nut-based spreads offer great growth opportunities in this segment. It is noticed a significant increase in the number of brands per country, offering similar products to well-known brands at more competitive prices. This leads to increased competition in the

2. market. This fierce competition forces existing brands in the market to differentiate their products from local producers, which leads to product innovation in the market. Furthermore, this competition leads to falling prices and economics of nut- based spreads on the market. The high sugar content of chocolate hazelnut spread has had a negative impact on the market as consumers are becoming more health conscious and looking for a low sugar substitute. To know more read: https://www.marketdataforecast.com/market-reports/nut-based-spreads-market Report is segmented as: The global market for nut-based spreads is segmented by product type. By type of product, the market is segmented into nut-based spreads, peanut-based spreads, hazelnut-based spreads, almond-based spreads, etc. Hazelnut-based spreads are expected to gain significant momentum over the forecast period as consumers search for healthy snacks made with natural ingredients. Hazelnut spreads provide ample opportunities for product developers looking for high-protein foods made from plant sources. With Natural Nut Butter, you can provide consumers with the clean labels your business demands. Geographical Segmentation: Geographically, the global market for nut-based spreads is segmented into North America, Europe, Asia Pacific and Other Countries (RoW). North America is expected to occupy a significant part of the world market, as markets for spreads such as jam and butter are well established with the presence of the major brands in the region. The Asia Pacific region is expected to show impressive growth during the forecast period. This growth is attributable to the large population base combined with the fast food and beverage industry in the region. Furthermore, the growing trend of packaged foods further increases the demand for nut-based spreads in Asian countries. Increasing demand for low-fat hazelnut spreads is driving growth in the Asia Pacific nut spreads market during the outlook period. Impact of COVID 19 on Nut Based Spreads Market Several factors contributed to the increase in market demand during the COVID-19 outbreak. Products like peanut butter are often considered a comfort food for

3. consumers, and concerns about possible food shortages have led many to buy well- known brands. As a result of the ability to obtain fresh food, the demand for shelf- stable products has increased significantly. Nut-based spreads can last for months unopened, making them an ideal choice for consumers preparing for quarantine. Key market players: Major market players include Conagra Brands Inc., The Hershey Co., The J. M. Smucker Co., Hormel Foods Corp., and Ferrero International SA. View sample and decide: https://www.marketdataforecast.com/market-reports/nut-based-spreads-market/request-sample Contact US: Abhishek Shukla Sales Manager at Market Data Forecast Email: abhishek@marketdataforecast.com Tel: +1-888-702-9626 Website: https://www.marketdataforecast.com/