Peanut spreads are a delightful addition to the breakfast table and as a business, a very lucrative option. The global peanut spread market is forecast to witness steady growth during 2020-2025 as consumers continue to search for nutritious and healthy alternatives. Consumers’ willingness to spend on peanut butter has increased because of its health benefits, making it an excellent choice for snacks and breakfasts.
The Global Peanut Spread market is all set to witness steady growth with a CAGR of 5.28% between 2020-2025.
The increasing demand for quick, easy, and on-the-go breakfast options that can be consumed anytime and anywhere has increased the demand for peanut spreads. The high protein content in peanut spreads makes them an ideal choice for people looking to meet their daily protein requirements without weighing them down or causing digestive issues such as gas or bloating.
The younger demographic is leaning towards plant-based alternatives, and peanut butter spreads have become increasingly popular in recent years with their potential benefits like high protein content, vitamins, and minerals.
Peanut butter is an excellent source of protein, healthy fats, and vitamins E and B6. It is also loaded with monounsaturated fatty acids (MUFAs), which are heart-healthy as they reduce blood cholesterol levels. In addition to their nutritional benefits, peanuts are an excellent source of folate—a nutrient that protects the body from birth defects by helping the liver produce red blood cells. They also provide vitamins, minerals, and fiber that the body needs to function effectively.
As the demand for this delicious spread increases by the day, peanut spread manufacturers across the globe are investing in developing new products like protein-rich peanut butter, flavored peanut butter, and crunchy and creamy peanut butter, which will help them stay ahead of the competition.
Many companies are expanding their nut spreads business by diversifying into other nuts like cashews, hazelnuts, and walnuts. This diversification allows them to offer more types of products for consumers who may not be interested in just one type of nut spread but rather want something different or healthier.
As a business, peanut spread is growing at an exponential rate. The peanut industry has been growing rapidly in recent years, with annual sales increasing by 20% in the past five years.
The market is expected to continue expanding at this rate due to increasing demand for healthier snack options as well as an increase in consumers’ willingness to spend on these products. So if you’re looking for a way into the peanut business industry, now is the time!