Asia Pacific Almond Butter Market was worth USD xx billion in 2022 and estimated to be growing at a CAGR of xx%, to reach USD xx billion by 2028.
Almond Butter is a food paste which is prepared from almonds. Almond butter can be smooth or crunchy and is generally either emulsified or susceptible to oil separation. It can be either roasted or raw and is generally refrigerated once opened to prevent oil separation and spoilage.
Almond butter has high amounts of potassium, iron, monounsaturated fats, calcium, and manganese. It’s believed to be a good source of phosphorus, riboflavin and copper, and also as a very good source of magnesium, vitamin E and fiber. It also provides good amounts of dietary protein and serves as an alternative to peanut butter for people allergic to peanut or to those disliking the taste of peanuts. Almond butter contains a lot more calcium, potassium, fiber, iron, and manganese than peanut butter, although it has a slightly higher total fat.
Drivers and Restraints:
The driving factors of Asia Pacific Almond Butter market are its high nutritional content, health benefits offered by the paste, growing demand for peanut butter substitutes, rising market for cosmetics and skincare, its applications as a moisturiser during massages and its ability to blend with natural oils easily among others. Among the primary restraints that the market is facing are its high fat content.
Asia Pacific Almond Butter Market Segmentation Analysis:
The Asia Pacific Almond Butter market is segmented based on application into food industry, cosmetics industry and others. On the basis of type, the market is segmented into organic and conventional. Organic is further segmented into raw almond butter and roasted almond butter. Raw almond butter is expected to have the fastest growth rate in the segment owing to its high nutritional content since it is not heated. Roasted almond butter is expected to have a steady growth rate. Based on distribution channel, the market is divided into online retail, hypermarkets and supermarkets, departmental stores and convenience stores. Online retail is expected to have the largest share in the segment.
The Asia Pacific Almond Butter market is divided based on geography into India, China, Japan, Australia and other parts of the region. Asia Pacific has the third largest market in the world for almond butter by share. It is also the fastest growing region in the world. Factors such as high nutritional content of the paste and rising consumption is expected to drive the market growth in the region.
Key Players in the Market:
Major Key Players in the Asia Pacific Almond Butter Market are
Some of the major players in the market are Barney Butter, Maranatha, Futter's Nut Butters, Once Again Nut Butter, Cache Creek Foods, Justin's, Sokol & Company, Dakini Health Foods, Edennuts, The J.M. Smucker Company, Nuts'n More, California Almonds, Zinke Orchards, Premier Organics, Solstice Canyon, Prana.
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