Nut Butters Market Size, Share & Trends, 2033

Nut Butters Market Overview

The Nut Butters Market size was valued at USD 3141.03 million in 2024 and is expected to reach USD 3966.04 million by 2033, growing at a CAGR of 2.3% from 2025 to 2033.

The global nut butters market reached approximately 1.2 billion pounds in retail sales volume during 2023, underscoring strong consumer preference for healthier, plant-based spreads. Peanut butter remained the largest segment, accounting for 45% of total volume (around 540 million pounds), while almond butter grew to nearly 25% share (about 300 million pounds). Cashew butter was around 10% (~120 million pounds), hazelnut spreads – excluding traditional chocolate–hazelnut – held roughly 8% (~96 million pounds), and other nut butters comprised the remaining 12%. In North America, 675 million pounds were sold in 2023, representing over 55% of global consumption. Europe followed with 300 million pounds, Asia‑Pacific with 150 million pounds, and Middle East & Africa combined at approximately 75 million pounds. Nearly 70% of global sales were in supermarkets and hypermarkets (~840 million pounds), followed by online stores (15%, 180 million pounds), convenience stores (10%, 120 million pounds), and specialty and regional channels (5%, 60 million pounds). Health and wellness trends drove per‑capita nut butter consumption to 3.2 pounds annually in the U.S. In contrast, Europe averaged 2.1 pounds, Asia‑Pacific only 0.9 pounds, and Middle East & Africa at 1.2 pounds—indicating significant growth potential in emergent markets. Ingredients list cleaner labels grew more popular: 65% of new nut butter launches in 2023 included fewer than five ingredients, and about 40% were labeled gluten-free and vegan. Organic variants represented 22% of total SKU launches in the year.

Key Findings

Driver: Growing consumer demand for protein-rich, plant-based, and clean-label food products.

Country/Region: North America with 675 million pounds of consumption.

Segment: Peanut butter, accounting for 45% of global nut butter volume.

Nut Butters Market Trends

The global nut butters market exhibited steady growth in 2023–2024, fueled by health trends, dietary diversification, and consumer demand for plant-based protein sources. Global nut butter consumption totaled approximately 1.2 billion pounds, as consumers sought alternatives to dairy-based spreads and processed snacks. Peanut butter remained dominant, particularly in North America, where annual per-capita consumption reached 3.2 pounds. Almond butter displayed strong growth momentum, especially in Europe and North America, driven by its perceived health benefits and high monounsaturated fat content. In Europe, almond butter sales increased by 14% from 2022, reaching approximately 120 million pounds in 2023.

Cashew butter grew as a premium segment, with consumption totaling 120 million pounds worldwide, spurred by plant-based dessert manufacturers and vegan recipe applications. Hazelnut butters, excluding chocolate spreads, accounted for 96 million pounds, supported by rising demand for spreads used in baking and desserts. Online retail sales continued gaining momentum, rising to 15% of total global sales (180 million pounds). Direct-to-consumer subscription models, often featuring personalized nut butter blends, gained traction. Brands offering customized nut butters saw reorder rates exceed 42%, highlighting consumer loyalty in the premium and specialty categories. Functional and fortified nut butters grew in popularity. In 2023, approximately 18% of new nut butter launches included added functional ingredients such as plant-based collagen, probiotics, or adaptogens. Protein-enhanced nut butters, with protein levels exceeding 10 grams per serving, reached sales of 80 million pounds globally. Sustainability trends impacted packaging and sourcing. Over 70% of new nut butter launches in 2023 used recyclable, glass, or compostable containers. Furthermore, 38% of brands sourcing almonds and cashews in North America and Europe made sustainability certifications such as Rainforest Alliance or Fairtrade part of their marketing claims. Growth in emerging markets was significant. In Asia-Pacific, nut butter consumption rose by 9% year-over-year, reaching 150 million pounds, driven by urban middle-class growth and increased adoption of Western dietary habits. Middle East & Africa saw growth rates surpassing 11%, especially in health-oriented retailers and specialty stores.

Nut Butters Market Dynamics

DRIVER

Growing consumer demand for protein-rich, plant-based, and clean-label food products

The shift towards health-conscious diets fueled increasing demand for nut butters, which provide high protein content, unsaturated fats, and micronutrients. In North America, nearly 78% of surveyed consumers indicated that nut butters are part of their regular snack or meal routine. Global sales of almond butter alone reached 300 million pounds, while new mixed nut butters expanded their share with 144 million pounds sold worldwide. As veganism and flexitarianism rise globally, plant-based protein sources like nut butters are gaining widespread appeal.

RESTRAINT

Supply chain fluctuations and raw nut cost volatility

Raw nut price volatility presents ongoing challenges for manufacturers. In 2023, almond prices fluctuated by 18%, while cashew prices varied by 22%, driven by unpredictable harvest yields, labor issues, and shipping costs. Smaller manufacturers faced margin compression as rising nut costs outpaced price increases feasible at retail. Limited global supply of premium-grade organic nuts added further constraints, affecting niche organic segments.

OPPORTUNITY

Expansion into emerging markets

Per-capita nut butter consumption in Asia-Pacific remains low at 0.9 pounds, compared to 3.2 pounds in North America. Rising middle-class disposable income, urbanization, and increased nutritional awareness create significant growth potential in emerging economies. In 2023, emerging markets accounted for 18% of global nut butter volume, a figure expected to grow as manufacturers localize production, invest in education campaigns, and expand distribution networks.

CHALLENGE

Increasing competition from alternative plant-based spreads

The nut butters market faces growing competition from seed-based butters (sunflower, pumpkin), fruit spreads, and yogurt-based alternatives. In 2023, sunflower seed butter sales rose by 22%, capturing a larger share among allergy-sensitive consumers. Retail shelf space competition has intensified, forcing brands to differentiate through premium offerings, clean labels, and functional fortification.

Nut Butters Market Segmentation

By Type

Peanut Butter: Represented 45% of global nut butter sales with 540 million pounds sold in 2023. Affordable, protein-dense, and highly popular, peanut butter dominates North American consumption, accounting for 72% of the region’s nut butter sales.
Almond Butter: Accounted for 25% of global volume (300 million pounds), driven by health perceptions and premium positioning. In Europe, almond butter grew by 14% year-over-year due to demand among fitness and wellness consumers.
Cashew Butter: Held a 10% share (120 million pounds), largely positioned as a luxury or specialty nut butter, particularly in plant-based dessert applications.
Hazelnut Butter: Contributed 8% (96 million pounds), often used in dessert spreads, baking, and gourmet applications.
Others: Represented 12% of total sales (144 million pounds), including pistachio, walnut, macadamia, sunflower blends, and exotic nut blends.

By Application

Supermarkets & Hypermarkets: Accounted for 70% of global nut butter sales (840 million pounds), driven by wide product assortments and consumer accessibility.
Convenience Stores: Managed 10% (120 million pounds), targeting impulse buyers and snack-on-the-go consumers.
Online Stores: Accounted for 15% (180 million pounds), fueled by customization, subscription services, and growing direct-to-consumer models.
Others: Specialty, health-food stores, and regional markets comprised 5% (60 million pounds), offering niche products and premium, handcrafted varieties.

Nut Butters Market Regional Outlook

North America

In North America, the nut butters market remained the largest globally, with total consumption reaching 675 million pounds in 2023. The United States accounted for the vast majority of this demand, with per-capita nut butter consumption averaging 3.2 pounds annually. Peanut butter dominated North American sales, representing approximately 72% of the region’s total nut butter consumption. However, almond butter also experienced strong growth, with sales increasing by 12% year-over-year, driven by growing demand for premium, protein-rich, and clean-label options. Organic and functional nut butters with added protein or adaptogens accounted for nearly 35% of North American new product launches.

Europe

In Europe, total nut butter consumption reached 300 million pounds in 2023. European consumers increasingly favored almond, cashew, and mixed nut butters, with almond butter growing at 14% year-over-year, particularly in countries like Germany, the UK, and France. Clean-label formulations were highly preferred in Europe, where approximately 68% of new product launches contained five or fewer ingredients. Sustainable packaging adoption also gained significant momentum, with over 70% of European nut butter brands shifting to recyclable glass jars or compostable containers.

Asia-Pacific

In Asia-Pacific, nut butter consumption reached 150 million pounds in 2023, showing rapid growth as plant-based diets gained traction among urban middle-class consumers. China’s almond butter imports doubled, reaching 48 million pounds. Domestic production hubs in India, Japan, and Southeast Asia expanded in response to rising demand for non-GMO and clean-label products. The region saw particularly strong growth in online retail channels, which accounted for 20% of nut butter sales in Asia-Pacific.

Middle East & Africa

In the Middle East & Africa, nut butter consumption totaled 75 million pounds in 2023. Countries such as the United Arab Emirates, Saudi Arabia, and South Africa led regional growth, driven by rising middle-class health awareness and expanded distribution into modern retail channels. Organic and specialty nut butters accounted for approximately 12% of total sales in the region, with supermarkets and hypermarkets dominating distribution.

List Of Nut Butters Companies

Justin's
Funky Nut Company
Futters Nut Butters
Vermont Peanut Butter
Nuttzo
Krema
Bliss Nut Butters
Betsy's Best
Barney Butter
Yopeanut

Justin's: Leading the premium nut butter category with approximately 14% of North American almond and mixed nut butter sales. Annual volume exceeded 42 million pounds in 2023.

Funky Nut Company: Held approximately 8% share in Europe’s specialty nut butter segment, producing over 24 million pounds annually across peanut, almond, and cashew formulations.

Investment Analysis and Opportunities

The nut butters market remains highly attractive for investment due to its steady growth trajectory, premiumization trends, and alignment with plant-based health movements. Global nut butter consumption exceeded 1.2 billion pounds in 2023, and investments continue expanding processing capacity, sustainability initiatives, and brand differentiation. Private equity investment in premium nut butter brands reached over $400 million in 2023, supporting expansion into new distribution channels and product lines. Niche brands focusing on organic, protein-fortified, and functional nut butters attracted investor attention for their strong direct-to-consumer growth, with average reorder rates of 42%. Investments in emerging markets remain a major growth frontier. With per-capita consumption at just 0.9 pounds in Asia-Pacific, local production facilities in India, China, and Southeast Asia expanded, supported by joint ventures with global brands. Regional production allows for cost control amid fluctuating global nut prices. Supply chain investments also focused on securing raw material availability. Strategic almond and cashew plantation investments expanded across California, Vietnam, and West Africa to ensure sustainable long-term supply. Certifications for ethical and sustainable sourcing increased from 22% in 2022 to 38% in 2023, appealing to ethically conscious consumers. Retail technology investments drove growth in online subscription models, with global direct-to-consumer nut butter subscription revenue exceeding $120 million in 2023. Personalized flavor blends, protein levels, and packaging customization enhanced consumer loyalty. Packaging innovations received investments as brands shifted towards glass jars, recyclable plastics, and compostable materials. In 2023, over 70% of new product launches used eco-friendly packaging formats, supported by retailer mandates and regulatory shifts toward sustainable packaging compliance.

New Product Development

The nut butters market witnessed significant innovation in 2023 and 2024, as manufacturers focused on differentiation, cleaner ingredients, functional enhancements, and packaging improvements. New product development became a critical strategy for both established players and emerging brands to capture consumer attention in an increasingly crowded market. One of the strongest trends in product development was the surge in functional fortification. In 2023, approximately 18% of all new nut butter launches included added ingredients such as plant-based protein, collagen, probiotics, omega-3 fatty acids, or adaptogenic herbs like ashwagandha and maca. Protein-fortified nut butters, with formulations offering 10 grams or more of protein per serving, sold over 80 million pounds globally. These fortified versions found particular success among fitness enthusiasts, athletes, and health-conscious consumers seeking added nutritional benefits. Clean-label formulations continued to dominate new product launches. Approximately 65% of nut butters introduced in 2023 contained five or fewer ingredients. Brands focused on simplifying ingredient lists, eliminating artificial preservatives, added sugars, palm oil, and emulsifiers. Non-GMO and gluten-free certifications became more common, with nearly 42% of new products displaying one or both of these claims on their labels. Flavor innovation became a major driver of new product launches, allowing brands to offer unique and premium options. Novel flavor combinations included turmeric almond butter, chili cashew butter, matcha-infused blends, cinnamon peanut butter, and chocolate hazelnut variations with reduced sugar. Approximately 14% of new SKUs introduced in 2023 featured exotic or gourmet flavor combinations aimed at attracting adventurous consumers and foodies. The rise of personalized subscription services created a new frontier for product customization. Direct-to-consumer models allowed consumers to design their own nut butter blends, selecting base nuts, protein levels, flavorings, and sweeteners. Subscription services for personalized nut butters reached 48 million pounds of global sales in 2023, with repeat order rates averaging 42% — demonstrating strong consumer loyalty to customized offerings. Packaging innovation also became a focal point for differentiation. Squeezable, on-the-go pouch formats grew by 22%, accounting for approximately 90 million pounds of global nut butter sales. These convenient, portable packaging formats appealed to busy consumers looking for healthy snacks that could easily fit into active lifestyles. Meanwhile, eco-friendly packaging remained a priority. Over 70% of new products launched in 2023 used recyclable glass jars, compostable containers, or lightweight packaging that reduced environmental impact. Sustainability certifications like Fairtrade and Rainforest Alliance also became increasingly common in new product launches, particularly in premium almond and cashew butter lines. In 2023, 38% of new products featured at least one sustainability or ethical sourcing certification, up from 22% the previous year. These ongoing innovations highlight how brands continue to elevate the nut butters market by combining health, functionality, personalization, and sustainability. The sector remains one of the most active spaces for product development within the broader plant-based food industry.

Five Recent Developments

Justin’s expanded its protein-fortified almond butter line by launching two new functional SKUs, contributing an additional 8 million pounds of sales.
Funky Nut Company opened its second processing facility in Europe, adding 15 million pounds of annual production capacity.
Nuttzo introduced adaptogenic nut butter blends incorporating ashwagandha and maca, with 2 million pounds sold in pilot launches.
Barney Butter developed recyclable squeeze packs that expanded distribution into 1,200 additional retail locations across North America.
Betsy's Best secured Fairtrade certification for its cashew butter product line, covering 4 million pounds of annual volume.

Report Coverage of Nut Butters Market

This comprehensive report offers a detailed analysis of the global nut butters market, covering total consumption volume, key segments, regional performance, emerging trends, competitive landscape, and investment opportunities. In 2023, global nut butter consumption reached approximately 1.2 billion pounds, driven by the rising popularity of plant-based protein sources and the increasing demand for clean-label, health-focused food products. By type, peanut butter remained the dominant category, accounting for 45% of global consumption with approximately 540 million pounds sold. Almond butter followed with 25% market share (300 million pounds), while cashew butter accounted for 10% (120 million pounds). Hazelnut butter contributed 8% (96 million pounds), and other nut butters, including pistachio, walnut, and mixed nut blends, collectively represented 12% (144 million pounds). In terms of application, supermarkets and hypermarkets remained the leading sales channel, handling 70% of total volume (840 million pounds), followed by online retail channels accounting for 15% (180 million pounds). Convenience stores contributed 10% (120 million pounds), while specialty stores and other retail channels made up the remaining 5% (60 million pounds). Geographically, North America led global consumption with 675 million pounds sold, driven primarily by the mature and health-conscious U.S. market. Europe consumed approximately 300 million pounds, while Asia-Pacific recorded significant growth, reaching 150 million pounds as demand for plant-based diets continued to expand. The Middle East & Africa represented 75 million pounds of total consumption, with rapid growth among urban middle-class consumers. This report profiles key players such as Justin’s and Funky Nut Company, which collectively held a significant share of global nut butter sales. Justin’s led the premium segment in North America with 42 million pounds of sales, while Funky Nut Company produced over 24 million pounds annually in Europe. The report also covers critical trends, including the surge in protein-fortified nut butters (accounting for 80 million pounds globally), increasing consumer preference for clean-label products (with 65% of launches containing fewer than five ingredients), and growing demand for sustainable packaging (used in over 70% of new product launches). Furthermore, it explores the expansion of direct-to-consumer subscription models, which generated 48 million pounds of customized nut butter sales in 2023. This report provides manufacturers, investors, distributors, and policymakers with a detailed understanding of the current state and future opportunities within the global nut butters market. It highlights evolving consumer preferences, technological innovations, regional demand patterns, and sustainability advancements that are shaping this dynamic industry.