Global Peanut Butter Market Size
| Study Period | 2020 - 2030 |
| Market Size (2025) | USD 7.22 Billion |
| Market Size (2030) | USD 10.09 Billion |
| CAGR (2025 - 2030) | 6.92% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Global Peanut Butter Market Analysis
The Global Peanut Butter Market size is estimated at USD 7.22 billion in 2025, and is expected to reach USD 10.09 billion by 2030, at a CAGR of 6.92% during the forecast period (2025-2030).
As obesity rates climb and urbanization spreads, a younger generation, with rising disposable incomes, is increasingly opting for healthier breakfasts and snacks. This trend is driving up the value of the global peanut butter market. With a growing demand for healthy and convenient food, peanut butter is swiftly establishing itself as a preferred choice in various global markets. Celebrated for its smooth and crunchy textures and distinct nutty flavor, peanut butter has become a household staple, gracing everything from sandwiches to desserts. For instance, data from the US Department of Agriculture reveals that in the fiscal year 2022, India consumed around 1.6 million metric tons of peanut meal, primarily for human consumption, setting it apart from other oilseed protein meals more commonly used in animal feed.
Moreover, the rise of plant-based diets and the clean eating trend has solidified peanut butter's appeal among health-conscious consumers. Concurrently, market players are introducing products that cater to these preferences, often highlighting added health benefits. For instance, in January 2023, WOW Life Science launched a new line of peanut butter infused with superfoods in India, a move backed by thorough customer research and expert consultations. The brand introduced two variants: one packed with super seeds like chia, pumpkin, watermelon, and sunflower, and the other featuring sattu, or roasted chana powder. Thanks to these superfood additions, WOW Life Science's peanut butter is now richer in protein and nutrients, boasting Omega 3, Vitamin E, and magnesium. Such health-focused product introductions are set to further accelerate the market's growth in the years ahead.
Global Peanut Butter Market Trends
Crunchy Peanut Butter Has Been Gaining Significant Popularity
Initially, creamy peanut butter held the title of the favorite, but crunchy peanut butter soon carved out its niche as a brand novelty. The growing allure of crunchy peanut butter stems from its robust texture, satisfying crunch, elevated fiber content, and lower saturated fat levels. On the other hand, proponents of creamy peanut butter praise its smooth taste and adaptability, pointing out its unconventional uses, from a spackling agent to a makeshift denture adhesive in a pinch. These dynamics have not only fueled global peanut butter consumption, particularly the crunchy variant, but have also spurred market growth. This trend is underscored by countries like Canada, Mexico, South Korea, Saudi Arabia, and Japan significantly boosting their peanut butter imports. For instance, data from the U.S. Department of Commerce highlights that in 2022, Canada imported peanut butter valued at USD 73.45 million, while Mexico's imports reached USD 46.53 million.
Moreover, a worldwide uptick in health awareness is driving the demand for organic and natural peanut butter. Celebrated for its absence of pesticides, synthetic fertilizers, and GMOs, organic peanut butter is viewed as a more nutritious and less chemically treated alternative. In light of this, industry leaders are rolling out crunchy versions of their offerings, spotlighting natural and sugar-free features to capture a wider market. For instance, in March 2024, Whole Earth launched its "Whole Earth Protein Crunch Peanut Butter," highlighting its natural ingredients and a unique no-added-sugar recipe, with roasted peanuts kept in their skins. Such moves are set to amplify the growth trajectory of the crunchy peanut butter segment in the years ahead.
North America Accounts for a Major Market Share
North America, driven by its insatiable appetite for peanut butter, has emerged as the market leader. Peanut butter's versatility shines as it graces desserts, sauces, smoothies, granola bars, and even charcuterie boards. The National Peanut Board's revelation underscores this widespread appeal that a remarkable 94% of American households keep at least one jar on hand. North America's dominance is further cemented by its robust peanut production and a growing awareness of the nut's benefits. Highlighting the industry's vitality, StatCan, in June 2024, identified five micro-scale roasted nut and peanut butter manufacturers in Canada, each operating with a modest team of one to four. In contrast, two larger establishments boasted a workforce between 200 and 499.
Factors like easy accessibility, a higher disposable income, and a well-developed retail sector fuel North America's peanut butter demand. Regional consumers increasingly favor products crafted from local ingredients, drawn by their lower carb counts and high protein content. Responding to this trend, manufacturers are rolling out peanut butter products that spotlight local ingredients and tout keto-friendly benefits. For instance, in August 2022, GOOD GOOD Brand launched its peanut butter spread in Canada, branding it as 99% sugar-free and completely free from added sugars. The brand proudly notes that its lower carb count is thanks to peanuts sourced directly from North America, with a particular emphasis on the U.S. These trends are set to further amplify the market's growth.
Global Peanut Butter Industry Overview
The market studied is highly competitive. This is due to the presence of domestic and international players in this sector. The industry's major players are The J.M. Smucker Company, Unilever, Procter & Gamble, Nestlé, and Hormel Foods Corporation. Key players are focusing on product development and product innovation to meet the consumer's needs by offering a variety of tastes and product quality to maintain premiumization. Some of the major players use mergers and acquisitions as their key strategy. The strategy to follow mergers and acquisitions by these top players is to sustain and secure a leading position in the industry. This will enable the companies to maintain dominance over other players, and the companies can remain a strong competition for other players in the market.
Global Peanut Butter Market Leaders
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The J.M. Smucker Company
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Procter & Gamble
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Unilever
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Hormel Foods Corporation
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Nestle
- *Disclaimer: Major Players sorted in no particular order
Global Peanut Butter Market News
- May 2024: In a bold move, Jif has introduced its first major flavor innovation in nearly ten years: the Jif Peanut Butter & Chocolate Flavored Spread. This latest creation aims to harmoniously meld Jif's signature creamy peanut butter essence with a touch of chocolate sweetness. Jif emphasizes that the spread features a thick, smooth texture for effortless application and proudly highlights its 50% reduced sugar content compared to the leading hazelnut spread infused with cocoa.
- April 2024: In India, FitFeast has launched its White Chocolate Peanut Butter, targeting fitness buffs and those with a more laid-back lifestyle. The company asserts that its White Chocolate Peanut Butter is sweetened naturally with Eucalyptus honey, celebrated as the world's purest honey. Furthermore, the product boasts a protein-rich profile and healthy fats, both of which aid in weight loss.
- March 2023: Apis India, a key player in India's organized honey trade, has launched a new line of Peanut Butter, seeking to enhance its health-centric product portfolio. The company touts its peanut butter as being made from natural ingredients, devoid of trans fats, gluten-free, and rich in antioxidants.
Global Peanut Butter Industry Segmentation
Peanut butter is a food paste or spread made from ground, dry-roasted peanuts. The global peanut butter market is segmented based on type, distribution channel, and geography. By type, the market is segmented into creamy, crunchy, and others. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, specialty stores, online retailers, and others. Similarly, by geography, the market analyses major regions including North America, Europe, Asia-Pacific, South America, and Middle East, and Africa. The market sizing has been done in value terms in USD for all the abovementioned segments.
| Type | Creamy | ||
| Crunchy | |||
| Others | |||
| Distribution Channel | Supermarkets/Hypermarkets | ||
| Convenience Stores | |||
| Specialty Stores | |||
| Online Retailers | |||
| Others | |||
| Geography | North America | United States | |
| Canada | |||
| Mexico | |||
| Rest of North America | |||
| Europe | Germany | ||
| United Kingdom | |||
| Sweden | |||
| France | |||
| Spain | |||
| Italy | |||
| Rest of Europe | |||
| Asia-Pacific | China | ||
| India | |||
| Japan | |||
| Australia | |||
| Rest of Asia-Pacific | |||
| South America | Brazil | ||
| Argentina | |||
| Rest of South America | |||
| Middle East & Africa | South Africa | ||
| United Arab Emirates | |||
| Rest of Middle East & Africa | |||
Global Peanut Butter Market Research FAQs
How big is the Global Peanut Butter Market?
The Global Peanut Butter Market size is expected to reach USD 7.22 billion in 2025 and grow at a CAGR of 6.92% to reach USD 10.09 billion by 2030.
What is the current Global Peanut Butter Market size?
In 2025, the Global Peanut Butter Market size is expected to reach USD 7.22 billion.
Who are the key players in Global Peanut Butter Market?
The J.M. Smucker Company, Procter & Gamble, Unilever, Hormel Foods Corporation and Nestle are the major companies operating in the Global Peanut Butter Market.
Which is the fastest growing region in Global Peanut Butter Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Global Peanut Butter Market?
In 2025, the North America accounts for the largest market share in Global Peanut Butter Market.
What years does this Global Peanut Butter Market cover, and what was the market size in 2024?
In 2024, the Global Peanut Butter Market size was estimated at USD 6.72 billion. The report covers the Global Peanut Butter Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Global Peanut Butter Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Global Peanut Butter Industry Report
Statistics for the 2025 Global Peanut Butter market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Peanut Butter analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
