The North America Almond Butter Market would witness market growth of 6.8% CAGR during the forecast period (2022-2028).
The nut is described as almond butter, which can be boiled or roasted. To prevent degradation and oil separation, almond butter should be refrigerated as soon as it is opened. As an alternative to other spreads, almond butter can fill chocolate, ice cream parlor, oat bars, and bread cooking. The majority of almond butter is made in California. This is so because this region produces the majority of the raw almonds. The market for almond butter is expanding as more consumers choose a healthy lifestyle and look for food sources that are high in nutrition.
Ingredients from almonds are used in different food products and provide a variety of nutritional advantages, including vitamins, proteins, carbs, fiber, lipids, and minerals. The added benefit of almond butter suggests the rise of the almond butter market. Almond butter may be used in a wide range of food products, making it a popular choice among consumers concerned about their health and providing improved growth potential for almond butter production. Also, the area is quickly adopting new lifestyles and increasing its consumption of bakery snacks and dairy products, which can aid companies that manufacture & sell ingredients in the almond butter market.
Even though the meat has traditionally been seen as a significant component of the Canadian diet, Canadians have grown increasingly aware of their food choices and meat consumption. Red meat consumption among Canadians is notably declining. In a recent poll, Canadian women over 55 were found to have the highest likelihood of avoiding beef or other red meats in their diet. Together with other causes, veganism in Canada may be to blame for the country's declining milk consumption. Veganism also has a noticeable impact on the dairy business. Given all this, the almond butter market is anticipated to support market expansion in the following years.
The US market dominated the North America Almond Butter Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $229.2 million by 2028. The Canada market is poised to grow at a CAGR of 9.2% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 8.3% 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 U.S., Mexico, Canada, and Rest of North America.
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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