Peanut butter is a creamy and soft brown colored paste made using roasted peanuts. It is commonly used as a sandwich spread and dip. It is also used in biscuits, cakes, and cookies. Peanut butter is highly nutritious as it contains high amount of vitamin B3 that helps to lower the risk of Alzheimer and other neurological decreases. It also used to reduce the excess fat of the body. Consumption of peanut butter helps individuals to maintain bones strong, and lowers chances of diabetes and heart deceases.

Increasing awareness regarding nutritional benefits of consumption of peanut butter is expected to boost the demand of the same and drives the growth of the global peanut butter market. Fluctuating and irregular supply of peanuts as a raw material and the availability of alternative nutritional nut butters in the market, expected to hamper the growth of the target market in the near future.

The global peanut butter market report has been segmented on the basis of product type, distribution channel, and region. On the basis of product type, the market is segmented into natural, creamy, crunchy and chunky, low fat, and flavored. Flavored segment is further sub-segmented into honey, chocolate, and others. Creamy segment dominates the global market in terms of revenue, owing to an increasing preference for creamy peanut butter among individuals. On the basis of distribution channels, the market is segmented into supermarkets and hypermarkets, retailer stores, convenience stores, and online stores. Currently, supermarket and hypermarket segment dominates the global market in terms of revenue, owing to the availability of different types of peanut butter.

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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is expected to dominate the global market in terms of revenue over the forecast period, owing the presence of major production companies in this region. The market in Asia Pacific is expected to witness lucrative growth in terms of revenue, due to the increasing popularity of convenient food in the region.

Key players operating in the global peanut butter market include The Procter & Gamble Company, Unilever N.V., The J.M. Smucker Company, Hormel Foods Corporation, Boulder Brands Inc., Kraft Canada Inc., Algood Food Company, Inc., Monsanto Company, ConAgra Foods, Inc., and The Hershey Company.