Report Overview
Global Peanut Butter Market Highlights
Peanut Butter Market Size:
The global peanut butter market is expected to grow at a CAGR of 5.83% to attain US$6,891.938 million in 2030 from US$5,192.742 million in 2025.
Peanut butter is becoming increasingly popular as an easily prepared and convenient breakfast option, and both the working-class population and children prefer it. In addition, it is available in different varieties and flavors to appeal to a greater proportion of the younger population. Moreover, many useful ingredients are beneficial for leading a healthy and balanced lifestyle. These include proteins, vitamins, iron, calcium, and others. Thus, these factors are increasing the demand for peanut butter and are pushing the market’s growth over the forecast period. However, the prevalence of peanut allergies among a significant proportion of the population is impacting the market’s expansion.
Global Peanut Butter Market Overview & Scope:
The global peanut butter market is segmented by:
- Type: By type, the global peanut butter market is categorized into processed peanut butter and natural peanut butter. The demand for natural peanut butter is estimated to grow greatly due to the increasing demand for organic food products.
- Product: By product, the market is divided into chunky peanut butter and creamy peanut butter. The crunchy category is expected to account for significant market revenue. It is healthier than creamy peanut butter because it contains fewer saturated fats and more fiber.
- Packaging Type: By packaging type, the market is divided into jars and pouches. The jars category is forecasted to attain a greater market share. It offers versatility and convenience to consumers, unlike pouches.
- Distribution Channel: By distribution channel, the market is divided into online and offline. The offline category is further divided into hypermarkets, convenience stores, and others. The online category is estimated to grow considerably.
- Region: The North American region is estimated to hold a significant share over the forecast period. This is because many individuals, including the young and middle-aged, love consuming peanut butter with slices of bread or with beverages and smoothies as a wholesome and healthy breakfast option.
Top Trends Shaping the Global Peanut Butter Market:
1. New product launches
- The continuous innovations and introduction of new flavors and products are among the major factors propelling market growth during the estimated timeline. The global peanut butter market witnessed the introduction of new flavors, like chocolate-peanut butter and hazelnut-peanut butter, allowing companies to increase their market reach across younger age groups.
Global Peanut Butter Market Growth Drivers vs. Challenges:
Opportunities:
- Increasing demand for convenience food products: The growing consumer demand for convenience food products and the increasing trend of food-on-the-go is also estimated to propel the market expansion during the forecasted timeline. The demand for convenience food products worldwide is rising due to the increasing urbanization. Peanut Butter offers the consumer easy and quick meal options, increasing their convenience.
- Growing demand for healthy food products: The changing consumer preferences and demand for healthy food products are among the key factors pushing the market growth during the estimated timeline. Peanut butter offers a rich source of healthy fats, proteins, and minerals.
Challenges:
- Increasing risk of allergies: The major factor challenging the global peanut butter market growth is the increasing cases of peanut allergies worldwide. The cases of peanut allergies witnessed a major increase within the past few years, restricting the market expansion.
Global Peanut Butter Market Regional Analysis:
- Asia Pacific: The Asia Pacific region is estimated to increase its share over the forecast period owing to the rising urbanization and disposable income of the consumer, allowing different market players to launch varieties of peanut butter to cater to the evolving demands of consumers.
Global Peanut Butter Market Competitive Landscape:
The market is fragmented, with many notable players, including Dr. Oetker, The J.M. Smucker Company, Hormel Foods, LLC, Post Consumer Brands, Kraft Foods Global, Inc., Pepper Health Pvt Ltd., Crazy Richard’s Peanut Butter, The Leavitt Corporation, PB2 Foods Storefront, Saffola (Marico), Nuflower Foods & Nutrition Pvt. Ltd., Galdisa USA, and Peanut Butter & Co., among others.
- Product Launch: In January 2025, Mars Inc., a global chocolate and confectionary leader, announced the launch of Peanut Butter Ice Cream Cookie Sandwich under its M&M brand. The sandwich features 100% real pecan butter ice cream and a rich and creamy texture.
- Product Launch: In May 2024, The J. M. Smucker Co. launched a Peanut Butter & Chocolate flavored spread under its Jiff Brand, which is considered the biggest flavor innovation in nearly 10 years. The Jiff Peanut Butter and Chocolate spread features a thick, smooth texture and 50% less sugar than the hazelnut-cocoa spread.
Peanut Butter Market Scope:
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Peanut Butter Market Size in 2025 | US$5,192.742 million |
| Peanut Butter Market Size in 2030 | US$6,891.938 million |
| Growth Rate | CAGR of 5.83% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Million |
| Segmentation |
|
| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in Peanut Butter Market | |
| Customization Scope | Free report customization with purchase |
Global Peanut Butter Market Segmentation:
By Type
- Processed Peanut Butter
- Natural Peanut Butter
By Product
- Chunky Peanut Butter
- Creamy Peanut Butter
By Packaging Type
- Jars
- Pouches
By Distribution Channel
- Online
- Offline
- Hypermarkets
- Convenience Stores
- Others
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa