Global Peanut Butter Market Size, Share 2025-2034

Global Peanut Butter Market: Overview

According to Custom Market Insights (CMI), The Global Peanut Butter Market  was valued at USD 8.51 Billion in the year 2025 and it is expected to grow to USD 15.52 Billion by the year 2034 growing at a compound annual growth rate of 6.88% during the forecast period 2025 and 2034.

Peanut butter is a staple in many households and is used in a variety of applications, including as a spread, ingredient in baking, and a key component in various snacks and sauces.

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Peanut Butter Market: Growth Drivers

• Health and Nutrition: Peanut butter is recognized as a nutritious source of plant-based protein, healthy fats, and essential nutrients. Consumers seeking health-conscious food options are turning to peanut butter.

• Versatile Applications:: Peanut butters versatility is evident in its use across various culinary applications, from classic PB&J sandwiches to protein-packed smoothies and savory dishes, making it a kitchen essential.

• Global Consumption:: Peanut butter enjoys a global presence and is consumed in various forms, adapted to regional tastes and preferences, from creamy spreads to crunchy variations.

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Peanut Butter Market: Regional Analysis

The United States is one of the largest markets for peanut butter globally. Peanut butter is a staple in American households, and it is widely used in sandwiches, baking, and as a snack. The market has seen a shift toward natural and organic peanut butter products, driven by health-conscious consumers. The peanut butter market in Europe has experienced significant growth, with the United Kingdom, Germany, and France being key markets. European consumers have shown interest in natural and organic peanut butter varieties, as well as innovative flavors and formats. China and India have seen rising demand for peanut butter due to a growing middle class, urbanization, and increased exposure to Western food trends. Local brands and international players are expanding their presence in these markets, offering various product variations to cater to consumer preferences. Peanut butter is a relatively niche market in Latin America compared to other regions. However, countries like Mexico and Brazil have shown potential for growth. The market is characterized by a mix of imported and locally-produced peanut butter products. The Middle East, particularly the UAE and Saudi Arabia, has a growing market for peanut butter, driven by a desire for convenient and nutritious food options. South Africa is another emerging market with a focus on natural and organic peanut butter products. Australia and New Zealand have seen steady growth in the peanut butter market. Consumers in these countries are becoming increasingly health-conscious and seek healthier peanut butter options.

Peanut Butter Market: COVID-19 Analysis

Lockdowns and restaurant closures led to a surge in home cooking. Peanut butter, a versatile ingredient, became a go-to option for creating homemade meals and snacks. The pandemic heightened the appeal of comfort foods. Peanut butter, often associated with nostalgia and comfort, experienced increased consumption. With consumers prioritizing both nutrition and convenience, peanut butters shelf-stable, long-lasting, and nutrient-rich qualities made it a practical choice. The pandemic emphasized the importance of sustainability and eco-conscious consumer choices. Peanut butter brands have responded by adopting sustainable practices and packaging. As health consciousness grew during the pandemic, peanut butter was recognized as a source of plant-based protein and healthy fats, contributing to its continued popularity. Consumers sought familiar and trusted brands during uncertain times, leading to increased loyalty to established peanut butter brands. There was a noticeable shift towards supporting local and regional products. Some consumers sought out peanut butter brands that sourced peanuts locally. Flavor innovations, such as spiced or specialty peanut butter blends, gained traction as consumers explored diverse taste experiences while cooking at home.

Key Players:

• The J.M. Smucker Company
• Hormel Foods Corporation
• Kraft Heinz Company
• Conagra Brands, Inc.
• Unilever
• Procter & Gamble Co.
• Boulder Brands
• Santa Cruz Natural Incorporated
• Peanut Butter & Co.
• Once Again Nut Butter
• Others

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The global Peanut Butter Market is segmented as follows:

By Type

• Smooth Peanut Butter
• Crunchy Peanut Butter
• Organic Peanut Butter

By Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail

By Application

• Bakery Products
• Snacks
• Spreads and Sauces

On the basis of Geography

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America

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