The Latin America, Middle East and Africa Almond Butter Market would witness market growth of 10.2% CAGR during the forecast period (2022-2028).
The almonds butter market is anticipated to develop due to the increased demand for almond content in various food & beverage applications, including spreads & toppings, drinks, and confectionery. The increasing preference for nut butter over other conventional goods results from customers' increased focus on health-oriented diets worldwide. Additionally, the affordable price tag coupled with the high nutritional content of these products propels their use in the packaged food & beverage business.
One of the key elements influencing consumer product uptake is the convenience these items provide due to their long shelf lives. Furthermore, the demand for vegan food products has prompted a flood of capital investors to put money into companies that produce vegan cuisine. As a result, producers of vegan cuisine are looking for financial support to grow their businesses and serve a global audience.
The cosmetics & beauty products industry is one of the most active and expanding in South America. Most Latina women know the markers of physical attractiveness in their culture. The three largest cosmetics markets in Latin America are Colombia, Brazil, and Chile. In Latin America, consumers have a keen interest in cosmetics and personal care. They are brand-savvy and more interested than ever in personal hygiene and cosmetics. Social media networks are the best resource for learning about personal care & cosmetics products. The Middle East is known for spending money on cosmetics. Grooming and care are highly valued in this society. Arab women's perceptions of their beauty rituals are changing because the region has some of the world's highest per capita beauty spending rates.
The Brazil market dominated the LAMEA Almond Butter Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $19.6 million by 2028. The Argentina market is experiencing a CAGR of 10.7% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 9.9% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into B2B and B2C. Based on B2B Type, the market is segmented into Food & Beverage Processing Industry, HoReCa and Personal Care & Cosmetic Industry. Based on B2C Type, the market is segmented into Hypermarkets & Supermarkets, Convenience Stores, Online and Others. Based on Nature, the market is segmented into Conventional and Organic. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Almond Butter Market is Projected to reach USD 1.1 Billion by 2028, at a CAGR of 7.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hormel Foods Corporation, Hallstar, The Hain Celestial Group, Inc., Barney Butter, Nutty Novelties, 8th Avenue Food & Provisions, Cache Creek Foods, Nuts 'N More, Once Again Nut Butter and SOPHIM.
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