The global peanut butter market is expected to grow significantly over the next decade, with its value projected to increase from USD 5.68 billion in 2025 to USD 8.33 billion by 2035. This growth reflects a steady CAGR of 3.9% during the forecast period.

Analyzing Top Countries Producing and Supplying Peanut Butter

This statistic shows the types of peanut butter eaten most often in the United States in 2014. The data has been calculated by Statista based on the U.S. Census data and Simmons National Consumer Survey (NHCS). According to this statistic, 205.35 million Americans consumed creamy peanut butter in 2014.

This statistic shows the number of jars of Reese's peanut butter eaten within one month in the United States in 2014. The data has been calculated by Statista based on the U.S. Census data and Simmons National Consumer Survey (NHCS). According to this statistic, 3.64 million Americans consumed more than 1 jar in 2014.

Global Peanut Butter Market Report is Segmented by Type (Creamy, Crunchy, and Others); by Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Retailers, and Others); and by Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers the Market Size in Value Terms in USD for all the Abovementioned Segments.

The Global Peanut Butter Market has valued at USD6.01Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.42% through 2028.

The global peanut butter market was valued to reach a market size of USD 4.84 Billion in 2024. The industry is expected to grow at a CAGR of 5.10% during the forecast period of 2025-2034. Rising consumer preference for healthy, plant-based snacks is driving the peanut butter market, thus aiding the market growth to attain a valuation of USD 7.96 Billion by 2034.

The forecast for the global Peanut Butter market predicts substantial growth, with market size projected to soar to USD 7.37 Billion by 2033, a significant increase from the USD 5 Billion recorded in 2024. This expansion reflects an impressive compound annual growth rate (CAGR) of 4.41% anticipated between 2025 and 2033.

The Global Peanut Butter market size to cross USD 7.37 Billion by 2033. [htt

The peanut butter market size was over USD 6.74 billion in 2024 and is anticipated to cross USD 15.47 billion by 2037, growing at more than 6.6% CAGR during the forecast period i.e., between 2025-2037. North America industry is set to hold largest revenue share by 2037, as peanut butter is considered as a staple food for breakfast in the region.

Peanut Butter market will be growing at a CAGR of 5.47% during 2025 to 2033.

Explore the expected growth in the global market for peanut butter and groundnuts, with forecasted increases in consumption and market volume over the next six years.

Global peanut butter market is expected to grow at a CAGR of 4.6% and is anticipated to reach around USD 4.8 billion by 2026. The nutritional benefits associated with the consumption of peanut butter are driving the global peanut butter market.

Learn about the global peanut butter market, including key factors driving growth, regional market trends, and the future outlook for this popular spread.

Peanut Butter Market Outlook

According to our latest research, the global peanut butter market size was valued at USD 6.12 billion in 2024, demonstrating robust expansion driven by rising health consciousness and shifting dietary preferences. The market is expected to grow at a CAGR of 5.8% from 2025 to 2033, reaching a projected value of USD 10.24 billion by 2033. This growth is primarily fueled by increasing demand for convenient, protein-rich food products, and the expanding popularity of plant-based diets across diverse consumer segments.

One of the most significant growth factors for the peanut butter market is the global shift towards healthier eating habits and the rising awareness about the nutritional benefits of peanuts. Peanut butter is increasingly recognized as a rich source of protein, healthy fats, vitamins, and minerals, making it a preferred choice for health-conscious consumers, athletes, and those seeking plant-based protein alternatives. The growing prevalence of lifestyle-related diseases, such as obesity and diabetes, has further driven consumers to opt for products with cleaner labels and lower sugar content, attributes commonly associated with premium and organic peanut butter variants. Additionally, the trend towards veganism and vegetarianism has amplified the demand for plant-based spreads, positioning peanut butter as a versatile and nutritious staple in modern diets.

Another pivotal driver shaping the peanut butter market is the innovation in product offerings and packaging. Manufacturers are increasingly investing in research and development to introduce new flavors, formulations, and packaging formats that cater to evolving consumer preferences. The emergence of flavored peanut butters, reduced-fat and sugar-free options, and fortified variants with added nutrients has widened the consumer base and enhanced market appeal. Furthermore, advancements in packaging technologies, such as resealable jars and convenient single-serve pouches, have improved product shelf life and portability, making peanut butter an ideal choice for on-the-go consumption. These innovations not only boost brand differentiation but also foster greater consumer engagement and loyalty.

The expansion of distribution channels, particularly the rise of e-commerce and online retail platforms, has significantly contributed to the market’s growth. With the proliferation of digital marketplaces, consumers now have easier access to a diverse range of peanut butter products, including niche organic and specialty brands that may not be widely available through traditional retail outlets. Online platforms enable brands to reach new demographics, conduct targeted marketing campaigns, and offer personalized promotions, thereby enhancing market penetration. Additionally, the growing presence of supermarkets, hypermarkets, and convenience stores in emerging markets has facilitated broader product availability and increased consumer exposure to both global and local peanut butter brands.

Regionally, North America continues to dominate the peanut butter market, accounting for the largest share due to high consumption rates, established distribution networks, and strong brand presence. However, the Asia Pacific region is witnessing the fastest growth, driven by increasing urbanization, rising disposable incomes, and growing awareness of the health benefits associated with peanut butter. Europe and Latin America are also experiencing steady growth, supported by changing dietary patterns and the introduction of innovative products tailored to local tastes. The Middle East and Africa, while representing a smaller share, are emerging as promising markets due to expanding retail infrastructure and increasing health consciousness among consumers.

Product Type Analysis

The peanut butter market is segmented by product type into crunchy peanut butter, smooth peanut butter, powdered peanut butter, and others. Among these, smooth peanut butter remains the most popular choice globally, favored for its cream

Peanut Butter Market size was valued at USD 6.47 Billion in 2023 and is projected to reach USD 10.66 Billion by 2030, growing at a CAGR of 7.10% during the forecast period 2024-2030.

Global Peanut Butter Market Drivers

The market drivers for the Peanut Butter Market can be influenced by various factors. These may include:

Health and Nutrition Trends: Because peanut butter has a high protein level, good fats, and vitamins, it is thought to be a nutritious food product. Demand for peanut butter is driven by rising consumer knowledge of its health benefits, which include its ability to help with weight management, muscular growth, and heart health. Growing Customer Demand for Plant-Based Protein: Plant-based diets and vegetarian/vegan lifestyles are becoming more and more popular, and peanut butter is a great source of plant-based protein. The market for peanut butter is expanding as a result of the increased demand—fueled by ethical, environmental, and health concerns—for plant-based protein substitutes. Convenience and Versatility: A versatile food ingredient, peanut butter can be utilized in a wide range of culinary applications, such as smoothies, sandwiches, snacks, sauces, and desserts. Customers looking for quick and simple meal options frequently choose it because of its simplicity and variety. Marketing and Product Innovation: Manufacturers can attract customers and boost sales in the peanut butter industry by implementing effective marketing methods such as product diversification, taste improvements, and packaging advancements. Different customer tastes and trends are catered to by a variety of peanut butter varieties, including crunchy, creamy, organic, natural, and flavored varieties. Growth in Online Retail Channels: Consumers now have easier access to a broader selection of peanut butter products thanks to the expansion of e-commerce platforms and online grocery shops. The peanut butter industry is expanding due in part to the ease of online buying and the availability of home delivery options, particularly for busy metropolitan customers. Snacking and Consumption While on the Go: Because of its portability, lengthy shelf life, and filling qualities, peanut butter is a popular option for snacking and consumption while on the go. Sales of peanut butter and snack products containing peanut butter are driven by the rising desire for quick and wholesome food options. Globalization and Cultural Influences: The demand for peanut butter is rising in areas where it was not previously consumed, demonstrating its popularity beyond its usual markets. The market for peanut butter is growing as a result of globalization and cultural influences, such as the adoption of Western diets and the appeal of cuisines that include peanuts. Accessibility and Affordability: Compared to other protein sources, peanut butter is a reasonably priced food item, making it affordable for a broad spectrum of customers with varying income levels. The market is expanding because to its accessibility and low cost, which can be found at grocery shops, convenience stores, and internet retailers. Growing Demand in Emerging nations: The Peanut Butter Market has a lot of room to grow in emerging nations due to factors like changing dietary choices, rising disposable incomes, and expanding populations. The demand for peanut butter in these areas is driven by rising urbanization, diets becoming more westernized, and the uptake of convenience items. Well-being and Health Consciousness: Demand for peanut butter prepared from premium ingredients without added sugars, preservatives, or other additives is rising as consumers grow more health-conscious and look for natural and minimally processed goods. The market is expanding for producers who meet this demand with natural and clean-label peanut butter goods.

Hi Oleic Peanut Butter Market Outlook

The global market size for Hi Oleic Peanut Butter was valued at approximately USD 1.8 billion in 2023 and is projected to reach around USD 3.3 billion by 2032, exhibiting a robust CAGR of 7.1% during the forecast period. The growth of this market is primarily driven by increasing consumer awareness about the health benefits of hi oleic peanuts, which contain higher levels of monounsaturated fats compared to regular peanuts.

One of the primary growth factors for the hi oleic peanut butter market is the rising health consciousness among consumers. People are increasingly seeking healthier food options, and hi oleic peanut butter, with its heart-healthy fats and nutritional benefits, fits well into this trend. The higher content of monounsaturated fats in hi oleic peanuts is known to help reduce bad cholesterol levels and lower the risk of heart diseases, making it a preferred choice for health-conscious individuals.

Another significant growth driver is the increasing demand for plant-based protein sources. As more consumers adopt vegetarian and vegan diets, the need for nutritious and plant-based protein options has surged. Hi oleic peanut butter, being rich in protein and other essential nutrients, serves as an excellent alternative to animal-based protein sources. This shift in dietary preferences has fueled the demand for hi oleic peanut butter globally.

The growing trend of clean label and natural products is also propelling the market. Consumers are becoming more aware of the ingredients in their food and prefer products with minimal processing and natural ingredients. Hi oleic peanut butter, often free from hydrogenated oils, artificial additives, and preservatives, aligns with the clean label movement. This preference for natural and simple ingredient lists has contributed significantly to the market's expansion.

Nut Butters, including hi oleic peanut butter, have seen a surge in popularity as consumers become more health-conscious and seek nutrient-dense alternatives to traditional spreads. The versatility of nut butters, which can be used in a variety of culinary applications from smoothies to baking, makes them a staple in many households. They offer a rich source of protein and healthy fats, appealing to those following plant-based diets or looking to reduce their intake of animal products. The demand for nut butters is further driven by the clean label movement, as consumers prefer products with minimal ingredients and no artificial additives.

Regionally, North America holds a substantial share of the hi oleic peanut butter market, driven by high health awareness and a well-established peanut butter industry. The Asia Pacific region is expected to witness the highest growth rate during the forecast period, fueled by increasing disposable incomes, westernization of diets, and rising health awareness. Europe also presents lucrative opportunities due to the growing trend of healthy snacking and the rising popularity of plant-based diets.

Product Type Analysis

The hi oleic peanut butter market is segmented by product type into smooth, crunchy, and others. Each segment caters to different consumer preferences and usage patterns. Smooth hi oleic peanut butter is favored by consumers who prefer a creamy texture and easy spreadability, making it a popular choice for sandwiches and as a spread on various foods. The smooth segment holds a significant share of the market due to its widespread acceptance and versatility in culinary applications.

Crunchy hi oleic peanut butter, on the other hand, appeals to those who enjoy a bit of texture and crunch in their spreads. The added peanut pieces in crunchy peanut butter provide a different sensory experience, making it a preferred option for snacks and baking. This segment is growing steadily as consumers seek variety in their peanut butter choices. The unique texture of crunchy peanut butter also makes it an attractive ingredient in various recipes, contributing to its demand.

The ‘others’ category includes flavored and specialty hi oleic peanut butter variants. These products cater to niche markets and adventurous consumers who enjoy unique and innovative flavors. Options like chocolate, honey, and spicy peanut butter fall under this segment. Though currently a smaller portion of the market, the others category is witnessing growth as companies experiment with new flavors and c

Peanut Butter Market compound annual growth rate CAGR of 7.3%, has been estimated to make approximately USD 15.2 Billion by 2035

Get key insights on Market Research Intellect's Natural Peanut Butter Market Report: valued at USD 4.5 billion in 2024, set to grow steadily to USD 7.2 billion by 2033, recording a CAGR of 6.5%.Examine opportunities driven by end-user demand, R&D progress, and competitive strategies.

This statistic shows the market share of the leading peanut butter brands in the United States in 2017, based on sales. For the 52-week period ended on January 22, 2017, ConAgra Foods accounted for approximately *** percent of the U.S. peanut butter market.

Jif was the leading peanut butter brand in the United States in 2017 by a wide margin. The brand controlled over ** percent of the market in that year, triple that of Skippy, the next largest brand. This market share translates into sales of over *** million U.S. dollars in 2017, compared to *** million dollars for Skippy.

The Jif brand

The Jif peanut butter brand originally started life in 1958 after Proctor and Gamble bought Big Top peanut butter from W.T. Young Foods, Inc., rebranded the spread and reformulated the recipe. In 2001, the brand was sold to The J.M Smucker Company.

Peanut butter market landscape

Sales of Jif represent nearly a third of total peanut butter sales in the United States. In 2017, the industry had sales of over *** billion dollars. The J.M. Smucker Company, which owns Jif, enjoyed a **** percent share of the overall peanut butter market, mostly owing to Jif, but also other peanut butter brands under their control.