Covid-19 Impact on Nut Butters Market

Market Overview

Nut Butters can be prepared using several nuts such as almond, peanuts, cashews, seeds (pumpkins, sesame, ETC). Nut butters. Among all the varieties, peanut butter is most widely used. However, growing incidences of peanut allergy, consumers have shifted to other alternatives owing to rising awareness level about the product availability. In addition, nut butter contains essential nutrients such as fiber, protein, vitamins and minerals, and healthy fats, among others. These healthy benefits of nut butters are likely to give a push to market growth. The product can help in improving cholesterol level, aid in weight loss, and can help in stabilizing blood sugar level.

Increasing awareness regarding health benefits of nut benefits is fueling the demand for the product owing to which the market for nut butters is growing at a striking rate globally.

Key Players

The key players profiled in Global Covid-19 Impact on Nut Butters Market Report include Vermont Peanut Butter (USA), NUTTZO Co (USA), Hormel Foods (USA), Funky Nut Company (UK), FUTTER’S Nut Butters (USA), KREMA Nut Co (USA), Bliss Nut Butters (USA), Betsy’s Best (USA), Barney Butter (USA) and Saratoga Peanut Butter Co (USA), and The JM Smucker Company (USA) among many others.

Owing to growing health and wellness trend and increasing consumers’ awareness about nut butters, the key manufacturers are investing in research and development for the launch of novel product. They have been diversifying their product portfolio by offering “free-from” and organic nut butters. In addition, the products are being made available in different flavors to attract consumers’ attention. The key manufacturers are also opting for strategic acquisition to expand geographical reach and strengthen product portfolio. For instance, KELLOG Co, acquired RXBAR which is planning to nut butters to capitalize on the growing demand. Customizing product as per local taste and preferences and keeping with the changing consumers preferences will support manufacturers in augmenting their profit margin.

Industry Segments

Global Covid-19 Impact on Nut Butters Market is segmented into Source, Packaging, Application and Region

On the Basis of Source- Edible Nuts, Oilseeds, Vegetable Extracts and others

On the Basis of Packaging- Squeeze Packs, Jars, and others

On the Basis of Application- Table Purpose, Bakery Products, Confectioneries, Snacks and others

On the Basis of Region- North America, Europe, Asia-Pacific and ROW

NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

Covid-19 Impact on Probiotic Market | Industry Demand

Market Analysis

Global Covid-19 Impact on Probiotic Market is increasing due to growing health awareness worldwide, rising population and disposable income has boosted the demand for Probiotic in recent years. The market in Asia Pacific is growing steadily. Health awareness and gut related disorders have prompted the growth of probiotics in the daily diet of individuals. The sector is driven in a major way by the demand directed from the food & beverage and pharmaceutical sectors. Probiotics have also emerged as a potential functional food or nutraceuticals. Health benefits gained out of probiotics consumption are the main drivers to the development of this segment. Growth of the nutraceuticals market has also provided an impetus for the increased demand of this sector. Preference for natural products that improve health and provide vitality are being increasingly demanded by consumers who have heightened sense of health awareness.

The health benefits of probiotics have been instrumental to the growth of the market. The renewed focus on having a healthy die and maintaining fitness, along with the increased awareness about the products, are among the key factors for growth of the industry. The need to strengthen the immune system is also one of the benefits of probiotics which is important to the development of this industry. Increasing spending power and awareness levels are expected to buoy the growth of the market through the forecast period.

Key Players

The major contenders that are a part of the Covid-19 Impact on Probiotic Market Globally are LALLEMAND Lifeway Foods, Nestlé, China-Biotics, BIOGAIA, Danisco, Danone, Nebraska Cultures, Yakult, Arla Foods, Mother Dairy Fruit & Vegetable Pvt, and Chr. Hansen holding.

Competitors who are a part of the industry have devised their corporate strategy blueprint in a way that that can bring the best outcomes for development in the current scenario, while also simultaneously delivering customer value unfailingly. The ability to sustain their competitive edge is one of the main causes fuelling their efforts in this period. The scope for development in the industry appears to be promising through the forecast period. The rising interest for diversification in the industry, has indirectly allowed the players to utilize many prospects available in the industry. This scenario has created opportunities for portfolio improvements along with diversification in the sector, which has improved the scenario for market competitors tremendously in this industry. The organizations in this industry are also trying to enhance and maintain financial liquidity that can be crucial to invest in growth opportunities as and when they become available.

Industry Updates

April 2018 PERKII has announced a national distribution partnership with an Australia based leader in retail cold-chain distribution, MANASSEN Foods Australia (MFA). The move is expected to be a significant step to fast-tracking the progressive growth of the world’s first encapsulated probiotic beverage. MFA has established itself as one of Australia’s top independent grocery distributors and importers, providing a single solution for brand owners across the globe and domestically. MFA also has a working relationship with all Australia’s corporate retailers and service over 5,000 retail outlets in the nation. The partnership began in April 2018 with their original 350ml probiotic water range, which comprised of a trial with Woolworths Grocery in particular Victoria and NSW stores.

Segments

The market for probiotics globally is segmented into the segments of end-use, application and type. The bacterial type segmentation comprises of Bifidobacterium, streptococcus, lactobacillus and others such as yeast, spore formers and other probiotic bacteria. While on the basis of application, the market is divided into food and beverages, dietary supplements and animal feed. Furthermore, the segmentation on the basis of end use consists of human probiotics and animal probiotics.

Regional Analysis

The Industry for probiotics is covers regions such as Europe, Asia Pacific, North America, Middle East and Africa. The Asia-Pacific regions leads the international market for probiotics with the largest market share, responsible for a high revenue rate and is estimated to grow exceptionally well by 2025. The North American industry is anticipated to see significant growth and is touted to turn out to be one of the notable markets for probiotics and will grow at an unparalleled CAGR per cent and a complimenting revenue level by 2025. The European market for probiotics is expected to develop at an incomparable CAGR rate in the forecast period.

NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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