Global Walnut-Based Spread Market Size To Exceed USD 1.72 Billion By 2033 | CAGR of 7.56%
Category: Food & BeveragesGlobal Walnut-Based Spread Market Size To Exceed USD 1.72 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Walnut-Based Spread Market Size is Expected to Grow from USD 0.83 Billion in 2023 to USD 1.72 Billion by 2033, at a CAGR of 7.56% during the forecast period 2023-2033.
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Browse key industry insights spread across 245 pages with 110 Market data tables and figures & charts from the report on the "Global Walnut-Based Spread Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Organic Walnut-Based Spread, Conventional Walnut-Based Spread, Low Sugar Walnut-Based Spread, Flavored Walnut-Based Spread), By formulation Type (Smooth, Crunchy, Blended), By Distribution Channel (Online Retail, Supermarkets, Specialty Stores, Health Food Stores), By End User (Households, Food Service Providers, Bakeries, Cafes and Restaurants) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/walnut-based-spread-market
The walnut-based spread market is the industry segment that encompasses the manufacturing, distribution, and consumption of walnut spreads. The spreads are usually made by mixing ground walnuts with other substances such as oils, sweeteners, or flavorings to make them spreadable. Walnut spreads tend to be positioned as healthier substitutes for conventional spreads due to its high nutritional content, such as healthy fats, protein, and antioxidants. Moreover, the industry for walnut-based spreads is witnessing a stunning rise in demand based on increasing consumer health awareness. Walnuts are high in omega-3 fatty acids, which are good for heart health. With consumers getting more health-oriented, they are going for walnut-based spreads as a healthier substitute for conventional spreads such as butter or peanut butter. Manufacturers are broadening the scope of walnut-based spread options to include varying flavors and preparations such as chocolate flavor, honey flavor, and spiced options. This diversification attracts more customers and encourages more consumers to consume these spreads as part of their diet. However, walnuts are comparatively costlier than other nuts, and this can raise the cost of production of walnut-based spreads. This increased cost may make these products less affordable to some people, particularly in price-sensitive markets.
The conventional walnut-based spread segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product type, the walnut-based spread market is divided into organic walnut-based spread, conventional walnut-based spread, low sugar walnut-based spread, and flavored walnut-based spread. Among these, the conventional walnut-based spread segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to conventional walnut-based spreads generally having a simpler, more traditional recipe accepted by a considerably wider consumer base. Also, traditional walnut-based spreads are typically less expensive than low-sugar, organic, or premium-flavored varieties.
The smooth segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the formulation type, the walnut-based spread market is divided into smooth, crunchy, and blended. Among these, the smooth segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven due to consumer appreciation for smooth textures that complement a wide range of uses, from spreads on bread to ingredients in recipes. Smooth spreads are typically more popular because they are easier to spread and maintain a consistent texture, thereby being more versatile for a wide range of uses.
The supermarkets segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the walnut-based spread market is divided into online retail, supermarkets, specialty stores, and health food stores. Among these, the supermarkets segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is due to supermarkets stocking a variety of walnut-based spreads ranging from regular to organic, low-sugar, or flavored ones. Supermarkets commonly provide discounts, loyalty schemes, or buy-one-get-one-free, which encourages customers to buy walnut-based spreads. These promotional discounts attract cost-conscious consumers.
The household segment accounted for the majority share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the end user, the walnut-based spread market is divided into households, food service providers, bakeries, cafes, and restaurants. Among these, the household segment accounted for the majority share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The growth is attributed to walnut spreads are primarily used in households as part of regular or weekly meal schedules. Walnut spreads are multi-purpose and can be applied in numerous ways in a home, such as on toast as a spread, smoothies, baking, or recipes.
North America is expected to hold the majority share of the global walnut-based spread market during the forecast period.
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North America is expected to hold the majority share of the global walnut-based spread market during the forecast period. North American consumers are increasingly focusing on healthy eating, and walnut-based spreads fit into this trend well based on the health advantages of walnuts, including healthy fats and antioxidants. Higher consumer interest in healthier alternatives to traditional spreads like peanut butter has contributed to the strong demand for walnut-based spreads in the region.
Asia Pacific is anticipated to grow at the fastest pace in the global walnut-based spread market during the forecast period. The APAC region is witnessing a growth due to health-aware consumers, especially in nations such as China, Japan, India, and South Korea. Rising incomes and urbanization in emerging economies such as India and Southeast Asia, consumers are opting for healthier and more varied foods, which are fueling the demand for superior products such as walnut-based spreads.
Major vendors in the global walnut-based spread market are Nuts 'N More, Meridian Foods, Nut Butter International, Artisana Organics, Kraft Heinz, Manna Organics, NuttZo, Nuts to You Nut Butter, Wild Friends Foods, Justin's Nut Butter, Screamin' Nuts, PB2 Foods Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In December 2024[sg1] , Spoon Roasters launched a nut butter with a distinct flavor profile by blending English walnuts, organic maple syrup, and spices like nutmeg and cinnamon.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the walnut-based spread market based on the below-mentioned segments:
Global Walnut-Based Spread Market, By Product Type
- Organic Walnut-Based Spread
- Conventional Walnut-Based Spread
- Low Sugar Walnut-Based Spread
- Flavored Walnut-Based Spread
Global Walnut-Based Spread Market, By Formulation Type
- Smooth
- Crunchy
- Blended
Global Walnut-Based Spread Market, By Distribution Channel
- Online Retail
- Supermarkets
- Specialty Stores
- Health Food Stores
Global Walnut-Based Spread Market, By End User
- Households
- Food Service Providers
- Bakeries
- Cafes and Restaurants
Global Walnut-Based Spread Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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