GCC Peanut Butter Market: Market Size, Share, Trends, Industry Analysis, Application Analysis, Growth and Forecast, 2022-2027” provides a deep and thorough evaluation of the GCC peanut butter market based on its segments including type, end-use, and region. The report tracks the latest industry trends and analyses their overall impact on the market. It also evaluates the market dynamics, which cover the key demand and price indicators, and studies the market on the basis of the SWOT and Porter’s Five Forces models.
Historical Year: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027
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The increasing prevalence of obesity, which is encouraging consumers to consume healthier snacks and breakfast options, is one of the primary factors fueling the GCC peanut butter market. Apart from this, the rising awareness among individuals towards the benefits of consuming plant-based proteins is further catalyzing the market growth.
In line with this, the emerging popularity of numerous variants, such as honey roasted, natural, creamy, reduced-fat, etc., is acting as another significant growth-inducing factor. Moreover, the escalating requirement for peanut butter in confectioneries and bakeries for preparing cupcakes, cookies, pies, muffins, biscuits, cakes, frosting, rolls, brownies, etc., is also positively influencing the regional market.
Besides this, the growing demand for peanut butter among fitness enthusiasts, owing to its enhanced protein content and advantages over conventional butter, is expected to propel the GCC peanut butter market during the forecasted period.
Note: Our analysts are continuously monitoring the influence of the COVID-19 pandemic on the market. This insightful information is included in the report to improve the efficiency, resilience and overall performance of businesses.
GCC Peanut Butter Market Industry Trends and Drivers:
The escalating demand for low-calorie and healthy food products, on account of rising consumer health concerns towards the high prevalence of heart diseases, diabetes, obesity, etc., is primarily driving the GCC peanut butter market. Moreover, the growing utilization of peanut butter as a substitute for milk butter in preparing cookies, cupcakes, pies, biscuits, muffins, cakes, stuffed celery, frosting, peanut butter rolls, brownies, etc., is further catalyzing the market growth.
Besides this, the widespread product adoption as an emulsifier in salad dressings, vegetable sauces, soups, cornbread, meatloaf, etc., is acting as another significant growth-inducing factor. Additionally, the growing consumption of sweet spreads, such as peanut butter, which assist in managing stress, maintaining weight, and providing vitamins, is also augmenting the regional market. Furthermore, the introduction of several creamy, crunchy, and honey roasted product variants without any preservatives or artificial ingredients is anticipated to fuel the GCC peanut butter market over the forecasted period.
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GCC Peanut Butter Market Segmentation:
The market is segmented on the basis of type, end-use, and region.
- End use
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The report also provides insights on the competitive landscape of the peanut butter market with the leading players profiled in the report.
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