Global Sugar-Free Peanut Butter Market Size: Projected to grow at a CAGR of 5.9% Revealed by Reed Intelligence

The global Sugar Free Peanut Butter Market is expected to grow at a CAGR of 5.9% from 2023 to 2031. The market is being pushed by the rising prevalence of diabetes and obesity, the rising demand for healthy and low-calorie food products, and the increased acceptance of sugar-free eating plans.

 | Source: Reed Intelligence Reed Intelligence

New York, United States, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Sugar substitutes, such as artificial sweeteners or sugar alcohols. It is a popular choice for consumers who are looking for a healthy and low-calorie alternative to regular peanut butter.

The increasing demand for healthy and low-calorie food products is one of the key drivers of the sugar-free peanut butter market. Consumers are increasingly aware of the health risks associated with consuming too much sugar, and they are looking for ways to reduce their sugar intake. Sugar-free peanut butter is a good option for consumers who want to enjoy the taste of peanut butter without the added sugar.

The rising prevalence of diabetes and obesity is another key driver of the sugar-free peanut butter market. Diabetes is a chronic disease that affects the way the body metabolizes sugar. Obesity is a condition in which the body stores excess fat. Both diabetes and obesity can be managed by following a healthy diet, and sugar-free peanut butter is a good option for people with these conditions.


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Market Dynamics

Consumers are searching for strategies to cut back on their sugar intake as they become more aware of the health dangers linked to excessive sugar consumption. Customers who wish to enjoy the taste of peanut butter without the additional sugar have a wonderful choice in sugar-free peanut butter.

Diabetes is a long-term condition that alters how the body processes sugar. The body retains extra fat when a person is obese. Following a balanced diet can help persons with diabetes and obesity, and sugar-free peanut butter is a smart choice for those who have these problems.

People are turning more and more to sugar-free diets as a means of losing weight and enhancing their health. For those who are on a sugar-free diet, sugar-free peanut butter is a fantastic alternative because it offers the same nutrition and flavor as regular peanut butter without the sugar.

Report Scope

Report MetricDetails
Compound Annual Growth Rate (CAGR)5.9%
Forecast Period2023-2031
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments CoveredSegmentation by Type
  • Smooth
  • Coarse-grained
Segmentation by Application
  • Online Sales
  • Offline Sales
Geographies Covered
  • North America
  • Europe
  • APAC
  • Middle East and Africa
  • LATAM
Market Drivers
  • Health Awareness Among Masses
  • Rising Demand For Plant-Based Foods
Market Opportunities

 
  • Penetration into developing market
  • Innovation and Product Development

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Smooth peanut butter, crunchy peanut butter, and powdered peanut butter are all included in the market's type segmentation. The most widely used variety of sugar-free peanut butter is smooth, followed by crunchy. The market for powdered peanut butter is expanding, and analysts predict that it will expand more quickly than the other two divisions.

Supermarkets/hypermarkets, convenience stores, internet retailers, and others are included in the market's distribution channel segmentation. Convenience stores are the second-largest distribution channel for sugar-free peanut butter behind supermarkets and hypermarkets. Online retailers are a rising source of sugar-free peanut butter and are predicted to expand more quickly than the other two.

Regional Analysis

North America is the region with the greatest market for sugar-free peanut butter. The rising demand for nutritious and low-sugar food items is what is fueling the market's expansion in North America. Many of the region's consumers are concerned about their health and are seeking for ways to cut back on their sugar intake. A strong economy and a high level of disposable income in the area also encourage customers to spend more on healthy meals.

Europe is the second-largest market for sugar-free peanut butter. The market in Europe is expanding as a result of the rising demand for peanut butter and the creation of new sugar-free peanut butter products. The consumption of peanut butter has a long history in the area, and its ubiquity is expanding. In addition, producers are creating new sugar-free peanut butter items that will appeal to European customers more.

Asia Pacific is the third-largest market for sugar-free peanut butter. The expanding middle class and rising health consciousness in the Asia Pacific are the main factors driving the market's expansion. The middle class is expanding quickly, and the area has a sizable and expanding population. Because of the rise in disposable income, customers are able to spend more on healthy meals. The demand for the product is also being fueled by the region's growing awareness of the health advantages of peanut butter.

Key Highlights For The Sugar-Free Peanut Butter Market:

  • From 2022 to 2027, the Sugar-Free Peanut Butter Market Size is anticipated to expand at a CAGR of 5.9%.
  • The largest market for sugar-free peanut butter is in North America, followed by Europe and Asia Pacific.
  • The market is expanding as a result of rising consumer demand for nutritious and low-sugar food items, the popularity of peanut butter, and the creation of new sugar-free peanut butter products.
  • Jif, Skippy, Peter Pan, Justin's, and Nuts 'N More are among of the dominant companies operating in the market.
  • Due to growing knowledge of the health advantages of peanut butter and the introduction of new sugar-free peanut butter products, the market is anticipated to expand more quickly in the upcoming years.

Competitive Landscape

  • HUNTS
  • HORMEL
  • SKIPPY
  • JIF
  • WAITROSE
  • TAOYUANJIANMIN
  • WANGZHIHE
  • HAPPY JARS
  • MOTHER NUTRI FOODS, ETC.

Sugar-Free Peanut Butter Market Segmentations

Segmentation by Type

  • Smooth
  • Coarse-grained

Segmentation by Application

  • Online Sales
  • Offline Sales

Segment by Region

  • North America
  • Europe
  • APAC
  • Middle East and Africa
  • LATAM

Table of Contents

  1. Executive Summary
    1. Introduction
  2. Market Introduction
    1. Market Definition
    2. Scope of the Study
    3. Market Structure
  3. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  4. Market Factor Analysis
    1. Value Chain Analysis: Sugar Free Peanut Butter Market
    2. Porters Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Dynamics
    1. Drivers
    2. Restraints
    3. Opportunities
  6. Recent Trends Analysis
  7. Impact of COVID-19 on Sugar Free Peanut Butter Market
    1. Pre and Post Covid -19 Market Scenario Analysis
    2. Market Recovery Timeline and Challenge
    3. Measures Taken by Top Players
  8. Regulatory Landscape
  9. Sugar Free Peanut Butter Market, Segmentation by Type
    1. Introduction
      1. Market Size and Forecast, Segmentation by Type
    2. Smooth
      1. Market Size and Forecast, By Region
    3. Coarse-grained
      1. Market Size and Forecast, By Region
  10. Sugar Free Peanut Butter Market, Segmentation by Application
    1. Introduction
      1. Market Size and Forecast, Segmentation by Application
    2. Online Sales
      1. Market Size and Forecast, By Region
    3. Offline Sales
      1. Market Size and Forecast, By Region
  11. Regional Overview
    1. Introduction
      1. Market Size and Forecast
    2. North America
      1. Market Size and Forecast
        1. Segmentation by Type
          1. Smooth
          2. Coarse-grained
        2. Segmentation by Application
          1. Online Sales
          2. Offline Sales
      2. U.S.
        1. Segmentation by Type
          1. Smooth
          2. Coarse-grained
        2. Segmentation by Application
          1. Online Sales
          2. Offline Sales
      3. Canada
    3. Europe
      1. Market Size and Forecast
        1. Segmentation by Type
          1. Smooth
          2. Coarse-grained
        2. Segmentation by Application
          1. Online Sales
          2. Offline Sales
      2. U.K.
        1. Segmentation by Type
          1. Smooth
          2. Coarse-grained
        2. Segmentation by Application
          1. Online Sales
          2. Offline Sales
      3. Germany
      4. France
      5. Spain
      6. Italy
      7. Russia
      8. Nordic
      9. Benelux
      10. Rest of Europe
    4. APAC
      1. Market Size and Forecast
        1. Segmentation by Type
          1. Smooth
          2. Coarse-grained
        2. Segmentation by Application
          1. Online Sales
          2. Offline Sales
      2. China
        1. Segmentation by Type
          1. Smooth
          2. Coarse-grained
        2. Segmentation by Application
          1. Online Sales
          2. Offline Sales
      3. Korea
      4. Japan
      5. India
      6. Australia
      7. Singapore
      8. Taiwan
      9. South East Asia
      10. Rest of Asia-Pacific
    5. Middle East and Africa
      1. Market Size and Forecast
        1. Segmentation by Type
          1. Smooth
          2. Coarse-grained
        2. Segmentation by Application
          1. Online Sales
          2. Offline Sales
      2. UAE
        1. Segmentation by Type
          1. Smooth
          2. Coarse-grained
        2. Segmentation by Application
          1. Online Sales
          2. Offline Sales
      3. Turky
      4. Saudi Arabia
      5. South Africa
      6. Egypt
      7. Nigeria
      8. Rest of MEA
    6. LATAM
      1. Market Size and Forecast
        1. Segmentation by Type
          1. Smooth
          2. Coarse-grained
        2. Segmentation by Application
          1. Online Sales
          2. Offline Sales
      2. Brazil
        1. Segmentation by Type
          1. Smooth
          2. Coarse-grained
        2. Segmentation by Application
          1. Online Sales
          2. Offline Sales
      3. Mexico
      4. Argentina
      5. Chile
      6. Colombia
      7. Rest of LATAM
  12. Competitive Landscape, 2022
    1. Introduction
    2. Sugar Free Peanut Butter Market Share Analysis, 2022 (%)
      1. Market Share Analysis, 2022
      2. Competition Ranking, 2022
      3. Key Developments & Growth Strategies
        1. Merger & Acquisition
        2. Product Launch
        3. Expansion
      4. Consolidated SWOT Analysis of Key Players
  13. Company Profile
    1. HUNTS
      1. Business Overview
      2. Financial Data
      3. Key Product Categories
      4. Recent Developments
    2. HORMEL
    3. SKIPPY
    4. JIF
    5. WAITROSE
    6. TAOYUANJIANMIN
    7. WANGZHIHE
    8. HAPPY JARS
    9. MOTHER NUTRI FOODS, ETC.


Table of Content and Figure @ https://reedintelligence.com/market-analysis/global-sugar-free-peanut-butter-market/toc 


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Tags

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