Global Almond Butter Market Insights Forecasts to 2033

• The Global Almond Butter Market Size was Valued at USD 708.45 Million in 2023.
• The Market Size is Growing at a CAGR of 7.78% from 2023 to 2033.
• The Worldwide Almond Butter Market Size is Expected to Reach USD 1498.23 Million by 2033.
• Asia Pacific Expected to Grow the fastest during the forecast period.

The Global Almond Butter Market Size is Anticipated to Exceed USD 1498.23 Million by 2033, Growing at a CAGR of 7.78% from 2023 to 2033.  

Market Overview

Nut butters prepared from crushed almonds include almond butter. It has a taste all its own, although it is textured like peanut butter. It can be spread on bread or crackers, mixed into breakfast smoothies, served as a fruit or vegetable dip, or added as an ingredient or seasoning to a variety of recipes. Because almonds are high in fiber, protein, healthy fats, vitamins, and minerals, almond butter is also recognized for its nutritional profile. A recent study showed that almonds strengthen the gut microbiome by increasing butyrate levels. Butyrate controls inflammation, relieves gastrointestinal discomfort, and treats conditions such as irritable bowel syndrome by preventing germs and bacteria from entering the bloodstream (IBS). Nuts have cardioprotective and blood sugar regulating properties. A thorough meta-analysis of observational data found a negative association between nut intake and heart disease. Nuts also have a positive effect on fasting insulin and HOMA-IR, but do not affect fasting blood glucose levels.

Report Coverage

This research report categorizes the market for the global almond butter market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global almond butter market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global almond butter market.

Driving Factors

Almond butter has various other nutrients that promote heart health and lower the risk of future cardiovascular disease. Omega-3 fatty acids help prevent irregular heartbeats. Vitamin E may help reduce plaque development in the arteries. Furthermore, developing dairy butter-based allergies and increased concern for animal welfare have contributed to veganism's growing appeal. In addition to being vegan, the number of vegetarians is a major factor driving the growth of the almond butter business. Because almond butter is hydrating, nourishing, and naturally soothing, it is a vital massage ingredient. It also complements essential oils well. An increase in the demand for organic cosmetics and skin-care products is an important driver contributing to the worldwide market's expected growth. Moisturizer and cream manufacturers require vitamins A, B, and E to increase emollience and make them richer. The incorporation of these vitamins in almond butter is expected to accelerate market expansion.

Restraining Factors

Almond butter production is heavily based on raw material availability, and fluctuations in almond crop productivity can have an impact on almond price and supply. Almond butter limitations caused by a lack of raw materials tend to raise prices and limit revenue growth. The high cost of raw materials and production equipment might make almond butter manufacture pricey. As a result, almond butter production may become less viable, limiting the number of firms that may enter the market.

Market Segmentation

The global almond butter market share is classified into nature, product type, and distribution channel.

• The organic segment is expected to grow at the fastest pace in the global almond butter market during the forecast period. 

Based on the nature, the global almond butter market is divided into organic and conventional. Among these, the organic segment is expected to grow at the fastest pace in the global almond butter market during the forecast period. As a result, demand for organic vegan foods is expected to grow in emerging markets, creating new export opportunities for almond butter. As consumer awareness grows, they gravitate toward organic and non-GMO products. Furthermore, they believe food should be organic and have an awareness of the ingredients utilized in commercial items.

• The regular segment is expected to grow at the fastest pace in the global almond butter market during the forecast period.  

Based on the product type, the global almond butter market is divided into regular, and flavored. Among these, the regular segment is expected to grow at the fastest pace in the global almond butter market during the forecast period. Consumers generally have a strong tendency for the creamy and genuine taste of almonds with no added flavors, which allows this segment to maintain its dominant position. Pure almond butter's versatility is also contributing to its increased sales. The fact that it is widely used in baking applications contributes to its market share. This product's healthy fat composition makes it a popular choice among health-conscious buyers globally.

• The B2B segment is expected to hold the largest share of the global almond butter market during the forecast period. 

Based on the distribution channels, the global almond butter market is divided into B2C and B2B. Among these, the B2B segment is expected to hold the largest share of the global almond butter market during the forecast period. The increased usage of almond butter in the food and beverage processing industry, such as dips, sauces, dressings, and soups, among other applications, is driving the expansion of the B2B market. In addition, the demand for almond butter-based cosmetics is driving the segment's rise. Because of its diverse applications, manufacturers' increasing investment in inventing and producing unique confectionery foods has resulted in increased market demand for almond butter.

Regional Segment Analysis of the Global Almond Butter Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global almond butter market over the predicted timeframe.

North America is anticipated to hold the largest share of the global almond butter market over the predicted timeframe. Consumers in this region consume a lot of almond butter, and its production is increasing, which contributes to North America's large market share. The presence of major almond butter makers in this region, as well as the growing popularity of almond butter's medicinal properties, are driving market expansion. Increasing awareness of health and veganism's appeal are also driving almond butter sales. The U.S. and Canada are the biggest markets.

Asia Pacific is expected to grow at the fastest pace in the global almond butter market during the forecast period. The region has a large population, accounting for over 56% of the global population. Rising almond butter consumption and skincare industry usage in nations like India and China are expected to drive regional growth. Furthermore, higher expenditure in the food sector by several important players is expected to drive growth in this region's target market. Furthermore, rising interest in organic and non-GMO butter is expected to boost market expansion in the coming years.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global almond butter along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Treehouse Almonds
• Petrow Food Group
• Barry Callebaut AG
• Big Tree Organic Farms
• Harris Woolf Almonds
• Rapunzel Naturkost
• All Organic Treasures GMBH
• Tapia Foods
• Olam International Ltd.
• Napa Nuts
• Justin's
• Blue Diamond Almonds
• Yumbutter
• Dastony
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2023, the top almond marketer and processor in the world, along with Brightseed, a bioactives company and Global Innovator recognized by the World Economic Forum, have joined forces to explore the undiscovered health benefits of nonpareil California almonds. The outcome of this cooperation will influence Blue Diamond's health advancements and initiatives, such as educating consumers about the connection between almond consumption and various health advantages.

• In November 2022, Justin's, LLC and Applegate Farms, LLC have revealed a partnership with Conscious Alliance, a non-profit that combats hunger in US communities. The collaboration strives to offer nutritious, eco-friendly food to individuals facing food insecurity through Conscious Alliance's food rescue and distribution initiatives.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global almond butter market based on the below-mentioned segments:

Global Almond Butter Market, By Nature

• Organic
• Conventional

Global Almond Butter Market, By Product Type

• Regular
• Flavored

Global Almond Butter Market, By Distribution Channel

• B2C
• B2B

Global Almond Butter Market, By Region

• North America
  • US
  • Canada
  • Mexico

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa