The Middle East and Africa Nut based Spreads Market is worth USD 0.45 Billion in 2024 and estimated to be growing at a CAGR of 6.22%, to reach USD 0.73 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 Middle East and Africa Nut based spreads market is driven by 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.
The market is growing slowly because of many problems the region faces, in terms of battles and also, the unstable economy. However, rising demand among the populace with dispensable incomes and the anticipated growth of demand, are set to help the growth of the market.
Major Key Players in the MEA 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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