The Asia Pacific Nut based spreads Market was worth USD 2.02 Billion in 2024 and estimated to be growing at a CAGR of 7.77%, to reach USD 3.68 billion by 2032. Peanut butter has led the way for other nut-based spreads like almond, cashew, macadamia nut, coconut and walnut to enter the industry and offer a wider variety of spreads for consumers.
Around 7.7% of consumers have switched from jam to peanut butter. The nut spread sales is largely dependent on the sales of bread. Peanut butter and chocolate spreads are displacing jam and marmalade as the most popular breakfast spreads.
The growth of the Asia Pacific Nut based spreads Market is mainly driven by the rising consumer preference to replace jams by nut based spreads. The rising health consciousness among consumers has further given way to low calorie spreads. The latest trend of food spreads becoming an integral part of every breakfast has led to a steady growth of the market.
Asia Pacific is predicted to grow with the highest CAGR during the forecast period. Factors such as growing consumption coupled with the rapid growth in distribution channels are anticipated to lead the growth of the market in this region.
Major key players in the Asia Pacific Nut based spreads Market are J.M. Smucker, Kraft Foods, Unilever Group, ConAgra foods Inc., Sioux Honey Association, B & G Foods, Ferrero Group, Nestle, Hershey Co and Welch Foods Inc.
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