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Nut Butter Bar Market Segmented By Vanilla Almond butter, Peanut butter, Coconut Cashew butter, Hazelnut butter, Chocolate Flavour
According to the latest research by Persistence Market Research, the nut butter bar market is set to have a steady growth during 2021-2031. Demand for nut butter bars is expected to increase in the food & beverage industry. The health-consciousness among the consumers is one of the driving factors behind the growth of the nut butter bar market.
With the large number of companies offering various flavours and coming up with new product development in the nut butter bar segment, there are wide opportunities for the key players.
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The increasing preference for healthy and nutritionally beneficial products in the market is driving the nut butter bar market across the globe. One factor which is driving the growth of the nut butter bar market is the increasing popularity of on-the-go breakfasts.
These nut butter bars are also consumed in between meals. The acceptance of nut butter bars not only for breakfast but for lunch and as snacks item has increased the demand for nut butter bars. Nut butter bars also give a more prolonged release of energy.
The nut butter bars are customized according to the region in which they are served, by the manufacturers. The nut butter bars are not only nutritious and safe for health but are also appetizing, which makes the nut butter bars an all-time eating option.
Nut butter bar makers are also innovating and coming up with new variations to increase the market share by adding new protein-rich ingredients such as nuts, puffed rice, oats, and others. The conversion of a nut butter bar from a snack to a food item that can be eaten at any time of the day has increased the market growth of nut butter bars.
The increase in the purchasing power parity is also expected to drive the market growth of nut butter bars in snacks. The growing use of different types of nuts like hazelnuts, almonds, and cashew in snacks bar owing to the good source of vitamins, fibers, and minerals is anticipated to increase the product demand. The increase in the spending capacity of customers along with the restless lifestyle of consumers would increase the nut butter bar market.
These nut butter bars are popular among athletes, sportsman and young adults as it gives longer release of energy. These nut butter bars are high in proteins and vitamins and help in appetite suppression, weight management, and improved digestive health. The demand for these products is, therefore, gaining attraction among the athletes.
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Get a Customized VersionThe COVID-19 pandemic severely impacted the end-use industries of the nut butter bar market. Hence, there has been a significant drop in the demand for nut butter bars across the globe. Though, the online shops are the ones that are helping this nut butter bar industry to stay afloat in this pandemic situation.
The disruption in the supply chain has also impacted the market due to which there is a delay in the operations and an imbalance in supply and demand. However, change in lifestyle, increasing health awareness and people's interest in buying nutritional bars from an online retail store are some of the factors due to which there is a steady growth in the nut butter bar market.
In North America, U.S. has the largest market share of the nutritional bar. One major reason for holding the largest market share in the North American consumers increasing preference for convenient and on-the-go meal options. Furthermore, cereals and nutritional bars are among the most popular snacks item in that region. The increase in the popularity of on-the-go grab meals and the change in snack eating culture is the reason for driving the growth in this region.
Major players in North America also utilizes new product innovation and focuses on new product launches. The high presence of manufacturers and suppliers in North America is another reason for an increase in the market share of the nut butter bar market as the availability of nut butter bars is increased due to the high presence of suppliers and manufacturers.
Thus, the nut butter bar business is a lucrative business opportunity for key players in the U.S. marketplace for both production and distribution. The exports of the product from the U.S. are maximum in Spain, India, China, and Germany. Moreover, developing nations could mean good market growth.
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The market growth of the nut butter bar market in the Asia Pacific region is anticipated to grow at a very fast pace, which includes India and China as the major market shareholder. The factors which will drive the growth of the nut butter market in the Asia Pacific are the high rate of urbanization and increasing population.
The middle-class population of this region prefers consuming nut butter bars often and this is anticipated to have a positive impact on the market growth of nut butter bars.
The increase in the rise of health consciousness and changing lifestyle among the people is another factor for increasing the market growth of nut butter bars. Aggregating pressure on urban consumers to keep up with the work-life balance is supplementing the need for ready-to-eat snacks items.
This, in turn, is anticipated to further improve the regional product demand. Development in the distribution networks of nut butter bars is also expected to boost the market over the forecast period. The increase in the spending capability of the consumers in this region is anticipated to affect the growth positively.
Some of the leading manufacturers and suppliers of nut butter bars include
By Flavour
By Distribution channel
By Region
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
