The Europe Peanut Butter Market would witness market growth of 6.5% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 1734.6 hundred Tonnes, showcasing a growth of 2.3% (2020-2023).
Crunchy peanut butter appeals to individuals seeking a satisfyingly textured spread with discernible nutty pieces. This variant typically contains whole or coarsely ground peanuts, providing a delightful crunchiness that contrasts with the smoothness of traditional creamy peanut butter. Crunchy peanut butter's popularity stems from its versatility, as it can be used in various culinary applications, including sandwiches, baking, and as a topping for fruits or crackers. Therefore, the UK market consumed 180.05 hundred Tonnes of crunchy peanut butter in 2023.
The Germany market dominated the Europe Peanut Butter Market by Country in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $648.2 Million by 2031. The UK market is exhibiting a CAGR of 6.3% during (2024 - 2031). Additionally, The France market would experience a CAGR of 7% during (2024 - 2031).
Flavor innovation is driving the introduction of exciting new flavor infusions and combinations in the peanut butter market. Likewise, peanut butter brands are enhancing the nutritional profile of their products by incorporating additional nutrient boosts such as protein powders, superfood blends, and functional ingredients like chia seeds, flaxseeds, and hemp hearts. These nutrient-enhanced peanut butter varieties offer health benefits and appeal to consumers seeking functional food options.
Moreover, in response to growing food allergies and sensitivities, peanut butter companies are creating allergen-friendly varieties to satisfy customers' dietary requirements. Brands are introducing peanut butter alternatives made from alternative nuts and seeds such as almonds, cashews, sunflower seeds, and pumpkin seeds, offering allergen-friendly alternatives for individuals with peanut allergies or intolerances.
The growing popularity of health and wellness in the UK has contributed significantly to the rise in peanut butter demand. As consumers in the UK become more health-conscious and seek out nutritious and wholesome food options, peanut butter has emerged as a popular choice due to its nutritional profile, versatility, and taste. Thus, the growing food service sector and health & wellness trends in Europe will assist in the expansion of the regional peanut butter market.
Free Valuable Insights: The Global Peanut Butter Market will Hit USD 9.9 Billion by 2031, at a CAGR of 6.8%
Based on Type, the market is segmented into Crunchy, Creamy, and Other. Based on Distribution Channel, the market is segmented into Offline, and Online. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Type (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By Distribution Channel (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By Country (Volume, Hundred Tonnes, USD Billion, 2020-2031)
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