Global
Walnut Butter Market Introduction:
Walnut
Butter is a vegetarian source of omega-3 fatty acids in addition to
nutrition such as fiber, protein vitamins, and minerals. Global
walnut butter market is expected to gain significant basis points in
global butter market over the forecast period, owing to the presence
of omega-3 fatty acids which act effectively in lower the risk of
depression, high blood pressure, stroke, cancer, diabetes, and other
heart diseases. North America and Europe are dominating the global
walnut butter market, attributed to high demand for dairy-free food
products across the region.
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Global
Walnut Butter Market Segmentation:
The
global walnut butter market is segmented on the basis of packaging,
distribution channel, product type, and region. Based on packaging
type, global walnut butter market is sub-segmented into pouches,
jars, cans, and others. Among these jars, the segment is expected to
contribute for the substantial revenue share in global walnut butter
market over the forecast period. Pouches segment is followed by jars
segment in the global walnut butter market. Based on distribution
channel, the global walnut butter market segmented as convenient
stores, hypermarkets/supermarket, and online retail. Among which,
hypermarkets/supermarket, the segment is expected to contribute for
major revenue share whereas, the online retail segment is expected to
expand at a significant CAGR in the global walnut butter market,
attributed to increasing adoption of e-Commerce across the globe. On
the basis of product type, the global walnut butter market is
segmented as plane walnut butter and flavored walnut butter, wherein
flavored walnut butter has significant revenue share and is expected
to register significant CAGR over the forecast period.
Global
Walnut Butter Market Regional Outlook:
Based
on the geographies, the global walnut butter market is split into
North America, Latin America, Europe, Asia-Pacific, and the Middle
East & Africa. Among the regions, North America is expected to
dominate the global walnut butter market, owing to high demand for
healthy and non-dairy food products across the region. Europe is
followed by North America and is expected to expand at a significant
growth rate in walnut butter market, owing to increasing health
awareness among consumers across the regions. Asia-Pacific accounts
for relatively high volume share and is expected to expand at a
significant growth rate in global walnut butter market, owing to easy
availability of raw material across the region. Overall, the outlook
for the global walnut butter market will have a positive growth over
the forecast period, the rapid rate of urbanization, rapidly growing
population, and changing consumer lifestyle across the globe being
a counterfeiting factor.
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Global
Walnut Butter Market Dynamics:
The
characteristics of walnut butter including antioxidant,
anti-inflammatory, promote cognitive function, dairy-free, and
heart-healthy attracts health-conscious people which are fueling the
global walnut butter market. The growth of the global walnut butter
market is also driven by increasing health consciousness among
consumers, increasing demand for dairy-free products, and growing
demand for high nutrition and less fat containing food and beverages.
Macroeconomic factors fueling the global walnut butter market include
growing economy, changing lifestyle, the rapid rate of urbanization,
and increasing domestic income. However, the high price of walnuts
restrains the demand for global walnut butter market. Some of the
factors trending the global walnut butter market include mergers &
acquisitions between walnut butter market players and walnut
suppliers and high investment in the food industry. Companies operate
in the walnut butter market can increase its share through backward
integration i.e. collaboration with walnut suppliers, and offering
organic and gluten-free products in the market.
Global
Walnut Butter Market Player:
Few
players in the global walnut butter market include Nut-Tritious
Foods, Premier Organics Inc., Novelle Natural Foods LLC, Sun &
Seed Ltd, Life of Riley Foods, Carley Corporation, Old Dog Ranch,
Stonewall Kitchen, LLC, Wilderness Poets, and Kalot Superfood
company.
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