Latin America Peanut Butter Market

Latin America Peanut Butter Market Size, Share, Growth (2022-2027):

Latin America Peanut Butter Market was worth USD 420 million in 2021 and is estimated to be growing at a CAGR of 10.94%, reaching USD 700 million by 2027.

Overview:

Peanut Butter is a food paste or spreads which is made from ground dry roasted peanuts. It often contains additional ingredients which modify the texture or taste, such as sweeteners, salt or emulsifiers. Peanut butter is popular in many countries around the world. Peanut butter is served as a spread on toast, bread or crackers, and used in making sandwiches notably the peanut butter and jelly sandwich. It is also used in numerous confections and packaged foods, such as Reese's Peanut Butter Cups which is made of chocolate-coated peanut butter, candy bars which are made from peanut butter-flavored snickers, and peanut-flavored granola bars. Comparable preparations are made by grinding other nuts. A variety of other nut butter are also sold, such as almond butter and cashew butter.

Latin America Peanut Butter Market Drivers:

The driving factors of the Latin America Peanut Butter market are the growing demand for nutritious products coupled with the increasing disposable income of consumers particularly in developing countries. Other drivers that are driving the growth of the peanut butter market are the emergence of hectic life schedules and the growing demand for low-calorie healthy food. Changing lifestyle and shift towards the intake of convenient food are also some factors that are expected to drive the peanut butter market in the forecast period. A major constraint that is expected to hinder the growth of the peanut butter market is the availability of peanuts at competitive prices coupled with fluctuating peanut production.

Latin America Peanut Butter Market Segmentation:

on the basis of

• product type

• distribution channel

On the basis of product type

• plain

• regular

• low sodium

• low sugar

Among the segments of this market, regular peanut butter holds the largest share which is followed by other segments. Low-sodium peanut butter is expected to have the fastest growth in the forecast period.

On the basis of distribution channels,

• hypermarkets

• supermarkets

• retailers

In the above segment, the supermarket segment is expected to have the largest share which is followed by hypermarkets and retailers.

Regional Analysis

• Brazil

• Argentina

• Chile

• Peru 

Latin America Peanut Butter Market Key Players:

1. Procter & Gamble

2. Unilever

3. The J.M

4. Smucker Company

5. Hormel Foods Corporation

6. Boulder Brands Inc.

7. Kraft Canada Inc.

8. Algood Food Company Inc