Peanut Butter Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Creamy, Crunchy/Chunky, Old Fashioned/Natural, Reduced Fat, Honey Roasted), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Stores, Others), and Region Forecast 2020-2031

Peanut Butter Market size was valued at US$ 7.2 billion in 2023. It is expected to reach a value of US$ 11.4 billion by 2029, growing at a CAGR of 7.3%  from 2024-2030. The global market provides a detailed overview of the market, which has been segmented by type, and distribution channel. By type, the peanut butter market has been segmented into Creamy, Crunchy/Chunky, Old Fashioned/Natural, Reduced Fat, and Honey Roasted. The crunchy/chunky segment is likely the most significant and fastest-growing in terms of type. Based on the distribution channel, peanut butter is segmented into Supermarkets/Hypermarkets, Convenience Stores, Online Stores, and Others. According to precision business insights, the supermarkets/hypermarkets segment is predicted to register the fastest growth rate during the forecast period.  

Peanut Butter Market Key Developments:  

In September 2021, Chobani entered into the peanut butter aisle with Chobani Ends Child Hunger Peanut Butter flavored nutrient spreads in a historic partnership with Edesia Nutrition. Chobani is a non-profit organization dedicated to ending childhood hunger. A specific line of Peanut Butter Flavored Nutrient Spreads is available for newborns. It's designed to lessen the risk of choking connected with the American Academy of Pediatrics recommendation for early peanut introduction (AAP).