North America Almond Butter Market Research Report – Segmented By Application (Food Industry, Cosmetics Industry And Other Applications), Type (Raw Almond Butter And Roasted Almond Butter), Distribution Channel (Online Retail, Hypermarkets And Supermarkets, Departmental Stores And Convenience Stores), And Country (US, Canada And Rest Of North America) - Industry Analysis On Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 To 2029)

Updated On: January, 2024
ID: 3832
Pages: 137

North America Almond Butter Market Size (2024 To 2029)

The size of the North America almond butter market is expected to be worth USD 286.85 million in 2024 and grow at a CAGR of 7.61% from 2024 to 2029 to achieve USD 413.90 million by 2029. 

Almond butter is a culinary ingredient primarily made from raw or baked almonds. It probably comprises of a high amount of heart-healthy unsaturated fats. It also has a lot of protein, vitamins, and minerals in it. In addition to these benefits, almond butter contains omega-3 fatty acids, making it a complete health food. Moreover, almond butter is most commonly used as a toast or snack sauce. It's used in a lot of breakfast foods, like granola and pancakes. Almond butter is great for natural moisturizing and emollient massages, and it combines well with essential oils, which is likely to boost the North America almond butter market's profitability. Moreover, almond butter has some sweet and creamy flavor, and some manufacturers add blanched almonds to make it taste more like peanut butter.

Almond butter's high nutritional content and other health benefits are some of the factors driving the North America almond butter market's rise in the food industry. The ongoing rise in demand for peanut butter substitute goods due to consumer indulgence, the availability of cheaper alternatives, and the speed with which diverse options are available are the primary factors driving the North America almond butter market. Another market driver for almond butter is the growing demand for natural-based cosmetics and skin care products. Natural emollients that are moisturizing, hydrating, and emollients that combine readily with essential oils are likely to drive the almond butter industry forward. Increased demand for low-cost peanut butter substitutes is also propelling the almond butter market forward. Almond butter is high in minerals including potassium, iron, monounsaturated fats, manganese, and calcium, all of which are good for the body. Copper, riboflavin, phosphorus, magnesium, vitamin E, and fibre are all found in almond butter. Furthermore, the growing demand for natural goods in cosmetics and skin care is likely to propel the worldwide almond butter market forward. By adding more almond butter to body care products, the availability of vitamins such as vitamins A, B, and E, which are required for the creation of lotions and creams, are expected to increase the almond butter market growth in North America.

Almond butter is an almond-based culinary paste. Almond butter can be crisp or smooth, and it's usually shaken or not shaken. In contrast to other spreads, almond butter is a filling for chocolate, oat bars, ice cream parlors, and bread kitchens. California is the primary producer of almond butter in the United States. This is due to the fact that the majority of raw almonds are grown in this region. Consumers all around the world are adopting a healthy lifestyle and looking for a nutritious food source, propelling the global market for almond butter even faster. Almond ingredients are used in a variety of foods and provide a variety of nutritional benefits, such as vitamins, proteins, carbs, fibre, lipids, minerals, and more. The added benefit of almond butter predicts that the global almond butter market will continue to develop. Almond butter has a wide range of uses in a number of foods, making it a popular choice among health-conscious consumers and providing more prospects for almond butter production.

The high cost of almonds, as well as the availability of high fat and alternative products, are projected to limit the North America almond butter market's growth. Global changes in almond prices are one of the key variables affecting the almond butter industry. Almond prices are growing over the world as demand for the nuts grows rapidly. Furthermore, one of the North America almond butter market's issues that must be addressed in the future is the rise in almond allergy or customer intolerance.

The coronavirus outbreak has had a detrimental influence on the almond butter market, as well as all stages of the supply chain and value chain. The COVID-19 pandemic has not only hampered production facilities, but it has also affected supply networks such as raw material suppliers and distributors of almond butter around the world, resulting in a loss of business.

This research report on the North America almond butter market is segmented and sub-segmented into the following categories.

North America Almond Butter Market By Application

  • Food Industry       
  • Cosmetics Industry            
  • Other Applications 

Almond butter is utilized in a variety of end-user industries, including the food and cosmetics industries, based on its applications. Almond butter is expected to grow in popularity in the food industry as a result of its taste and nutrients. Because of its outstanding spreading capacity and moisturizing impact, the almond butter market in the cosmetics industry is predicted to develop in the future.

North America Almond Butter Market By Type

  • Raw Almond Butter           
  • Roasted Almond Butter

Based on type, raw almond butter is anticipated to dominate the North America almond butter market during the forecast period. Raw almond butter differs from roasted almond butter in that it is devoid of salt and sugar. It's created from ground almonds, which are just almonds with the brown skin still attached. To make this type of product, blanch and peel the almonds before crushing them into a paste-like consistency. Once the texture of the raw almond butter has smoothed out, it is ready to eat.

On the other hand, roasted almond butter is predicted to have the significant North America almond butter market share during 2022-2027. The almonds are heated to a specific temperature before being mashed into a smooth, creamy texture to make roasted almond butter. When almonds are roasted, their flavor and scent are increased. It might be bright or dark in color depending on how long it's been roasted. The roasted flavor makes it a great spread for toast or sandwiches, and the high fat content prevents the oil from separating from the other ingredients. Roasted almond butter is used in a variety of recipes, including pate and other spreads, pestos, and salad dressings.

North America Almond Butter Market By Distribution Channel

  • Online Retail         
  • Hypermarkets and Supermarkets
  • Departmental Stores        
  • Convenience Stores  

Based on distribution channel, the North America almond butter market will be dominated by the supermarket/hypermarket sector. Customers have more options in terms of product types, brands, flavors, pricing, and other considerations because these stores carry a wide range of brands in a product category, such as almond butter. However, the online store segment of the almond butter market is expected to grow at the fastest rate over the projected period in terms of value sales.

North America Almond Butter Market By Region

  • U.S
  • Canada
  • Mexico
  • Rest of North America

The North American market is expected to lead the worldwide target market in terms of sales. With growing consumption of healthy meals among U.S. consumers, approximately 20% of customers are more likely to buy food or beverage goods with on-pack claims like "crafted with real ingredients." The use of almond butter in snacking has improved dramatically over the years, and the almond butter market is expected to grow in revenue. Furthermore, over the last three years, the volume growth of almond butter in the US market has climbed by 15.3 percent, outperforming the total nut butter category, indicating that the almond butter industry is growing rapidly.

KEY MARKET PLAYERS

Major Key Players in the North America Almond Butter 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, and Nuts'n More       

RECENT HAPPENINGS IN THE MARKET

  • Barney Butter, a major manufacturer of premium almond butter in the United States, has announced the development of the country's first organically expeller pressed, single ingredient almond butter powder.

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