Peanut Butter Market To Grow Substantially At A CAGR Of 7.50% From 2023 To 2032
According to Custom Market Insights (CMI), The Global Peanut Butter Market Size was valued at USD 5.56 billion in 2021 and is estimated to reach USD 7.89 billion by the end of 2030 at a CAGR of approximately 7.5% during the forecast period 2022-2030. Peanut is an essential crop that is grown around the world and is most dominantly used for the production of oil, butter, flour, snack products, and among others. Peanut butter is a fine and crunchy paste made it from the ground or roasted peanut. It contains essential ingredients such as sweeteners, salts, emulsifiers, and others and it involves 45% of oil and 25% of proteins. It is widely consumed across the globe. Regional Snapshots . Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America is the dominant region in the peanut butter market and accounted for 51.25% of the total market share during the forecast period. According to data revealed by National Peanut Boar...