The North America Nut Based Spreads Market was worth USD 2.25 billion in 2021 and estimated to be growing at a CAGR of 7.50%, to reach USD 3.23 billion by 2026.
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 North America Nut Based Spreads market is driven by factors including 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.
The North America Nut Based Spreads market is segmented on the basis of product type and by region. On the basis of product type, the market is segmented into peanut based spreads, almond based spreads, walnut based spreads, cashews based spreads and others.
Geographically the North America Nut Based Spreads Market is segmented into US, Canada and Rest of North America. The North America market has been geographically segmented into segmented into US and Canada. The North American region holds the major stake in the aggregate income of Global Nut Based Spreads market in 2016 because of noteworthy growth in consumption, brought about by established distribution channels.
Key Players in the Market:
Major Key Players in the North America Nut Based Spreads Market are
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