The growing demand for plant-based and vegan food options and rising popularity of peanut butter as a protein source are driving the growth of the Peanut Butter Market at a CAGR of 6.67% during the forecast period 2025 to 2035

Market Research Future (MRFR) has published a cooked research report on the “Global Peanut Butter Market” that contains the information from 2019 to 2035.

The Global Peanut Butter Market is estimated to register a CAGR of 6.67 % during the forecast period of 2025 to 2035.

MRFR recognizes the following companies as the key players in the Global Peanut Butter Market — Hormel Foods Corporation, J.M. Smucker Company, Dr Oetker, The Hershey Company, Kraft Heinz, Kellogg Company, Mars, Inc., Unilever Plc, Associated British Foods plc, Conagra Brands, Inc. and others.

The Global Peanut Butter Market accounted for registering a CAGR of 6.67 % during the forecast period and is estimated to reach USD 15.37 billion by 2035.

The growing demand for plant-based and vegan food options has been one of the key drivers for the global peanut butter market. This shift in consumer preferences towards plant-based diets can be attributed to multiple factors, including increasing awareness of health and environmental concerns, as well as ethical considerations related to animal welfare. Over the past few years, there has been a significant rise in the adoption of plant-based lifestyles, especially among younger generations who are more conscious about their food choices. As a result, plant-based foods, including peanut butter, are increasingly being sought after as healthier and more sustainable alternatives to traditional animal-based products.

Peanut butter, with its high protein content, nutritional benefits, and versatility, fits seamlessly into plant-based diets. The increasing popularity of plant-based and vegan diets has caused a surge in demand for peanut butter as a protein source that is both affordable and easily accessible. Unlike animal-based proteins, peanuts are a plant-based source of protein, which appeals to vegans and individuals who prefer to minimize their consumption of animal-derived products. Additionally, peanut butter is rich in essential nutrients such as healthy fats, vitamins, and minerals, making it an attractive option for those looking to maintain a balanced and nutrient-dense diet without relying on animal-based foods.

Furthermore, this trend has been further fueled by the growing consumer demand for plant-based products that are clean, natural, and minimally processed. Peanut butter, especially in its organic or natural variants, has become a staple for many health-conscious consumers. The idea of consuming a simple, whole-food product that is rich in nutrients without any artificial additives or preservatives resonates strongly with individuals seeking a more natural approach to their diets. This has prompted peanut butter manufacturers to innovate and create new variations of the product, catering to the increasing demand for vegan-friendly, non-GMO, and organic options. With the rise of vegan and plant-based food movements, many consumers now see peanut butter as an essential food item in their pantry, providing a healthy and ethical alternative to other spreads that contain animal-based ingredients.

The impact of this growing demand for plant-based and vegan options is not limited to just individual consumers. The food industry has responded by incorporating more plant-based ingredients into their offerings, including peanut butter. The growing presence of plant-based food options in supermarkets, restaurants, cafes, and online retail platforms has made it easier for consumers to access these products. Moreover, as awareness about the environmental impact of animal agriculture grows, many consumers are choosing plant-based products as a more sustainable option. Peanuts, as a crop, have a relatively low environmental footprint compared to animal-based products, which require significant resources such as water, land, and feed. This environmental benefit is another factor that drives the preference for plant-based options like peanut butter, aligning with the increasing trend of sustainable and environmentally conscious eating habits.

Segmental Analysis

The Global Peanut Butter Market has been segmented based on Texture, by Claim, by Nature, by End-Use, by Distribution Channel.

Based on Texture, this segment includes Creamy, Crunchy, Powdered. The Crunchy segment dominated the global market in 2024, while the Powdered segment is projected to be the fastest–growing segment during the forecast period. Crunchy peanut butter offers a coarser texture with visible peanut chunks, appealing to consumers who prefer a more textured mouthfeel and nutty bite. It is often perceived as a less processed option compared to creamy peanut butter and is favored by individuals looking for a richer, more intense peanut flavor. The chunkier composition also adds a sensory element that is often sought after in snacks and sandwiches. While it is less common in regions like Asia-Pacific and Latin America, it maintains a strong foothold in North America and some parts of Europe.

Based on Claim, this segment includes Low Sodium, No Sugar, Reduced Fat. The No Sugar segment dominated the global market in 2024, while it is projected to be the fastest–growing segment during the forecast period. No sugar peanut butter, also referred to as sugar-free or unsweetened peanut butter, is developed for consumers looking to limit or eliminate added sugars from their diet. This segment is particularly appealing to people managing diabetes, obesity, or those following low-carb or ketogenic diets. In these variants, manufacturers avoid adding sweeteners like cane sugar, high fructose corn syrup, or molasses, and instead emphasize the natural sweetness derived from the peanuts themselves. Some brands might use natural sugar substitutes like stevia or erythritol, though purists prefer completely unsweetened versions.

Based on Nature, this segment includes Organic and Regular. The Regular segment dominated the global market in 2024, while the Organic segment is projected to be the fastest–growing segment during the forecast period. Regular peanut butter dominates the global peanut butter market in terms of volume and value. It is made using conventionally grown peanuts and may contain additional ingredients such as salt, sugar, hydrogenated oils, and stabilizers to enhance shelf life, texture, and taste. This type of peanut butter is widely available across mainstream retail outlets and is particularly favored for its affordability and consistent flavor profile. It includes both creamy and crunchy varieties, and in many regions, it serves as a staple pantry item.

Based on End-Use, this segment includes Direct Consumption & Culinary Purpose, Bakery & Confectionery, Dips & Spreads, Sweet & Savory Snacks, Others. The Direct Consumption & Culinary Purpose segment dominated the global market in 2024, while the Sweet & Savory Snacks segment is projected to be the fastest–growing segment during the forecast period. Peanut butter's use in direct consumption remains one of the most dominant segments in the global market. Consumers across North America, Europe, and emerging Asian economies often consume it as a standalone spread on bread, toast, or crackers. The high protein content and satiety offered by peanut butter have made it a preferred option for health-conscious consumers, athletes, and children. Its use as a convenient breakfast or snack item aligns well with the growing trend toward high-protein, plant-based foods.

Based on Distribution Channel, this segment includes Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online. The Supermarkets/Hypermarkets segment dominated the global market in 2024, while the Online segment is projected to be the fastest–growing segment during the forecast period. Supermarkets and hypermarkets are the most dominant distribution channels for peanut butter globally, primarily due to their widespread reach and the convenience of a one-stop shopping experience. These large-format retail outlets provide a broad assortment of food and grocery products, including multiple brands and variants of peanut butter under one roof. Their wide shelf space allows both global and regional manufacturers to showcase a variety of peanut butter options, ranging from conventional and natural to flavored, low-sodium, or sugar-free types. Consumers also benefit from competitive pricing, promotional discounts, and product bundling, making this channel highly attractive for regular grocery shoppers.

Regional Analysis

Geographically, the Global Peanut Butter Market has been segmented into North America, Europe, Asia-Pacific, South America, Middle East & Africa.

Major demand factors driving the Asia Pacific market are the growing demand for plant-based and vegan food options and rising popularity of peanut butter as a protein source. The Asia Pacific peanut butter market has undergone significant transformation in recent years, primarily driven by rising health consciousness, urbanization, and increasing acceptance of Western eating habits across diverse consumer demographics. Traditionally, peanut butter was not a staple in many Asian diets. However, evolving lifestyles and dietary shifts, especially in urban areas of countries like China, India, Japan, South Korea, Indonesia, and Australia, have created a fertile ground for peanut butter to become more mainstream. This change is closely tied to the rising demand for convenient, protein-rich food options, particularly among middle-class and millennial consumers who seek nutritious yet tasty alternatives to traditional breakfast and snack foods. With rising disposable incomes, there is growing adoption of spreads that are perceived as healthy and premium, such as peanut butter with low sugar, added nutrients, and natural or organic ingredients.

The North America peanut butter market is a mature but steadily evolving segment within the broader spreads and snack foods industry. Driven largely by the U.S., which accounts for a dominant share of both production and consumption, the market is influenced by changing consumer preferences, dietary trends, and innovations in product formulation. Traditionally, peanut butter has been positioned as a household staple, valued for its protein content, affordability, and long shelf life. However, consumer demand has expanded beyond traditional creamy and crunchy varieties to include organic, natural, and no-stir options, as well as versions with added functional ingredients such as flaxseed, chia, and probiotics.

The European peanut butter market has grown steadily over the past decade, propelled by a shift in consumer preferences toward plant-based proteins and healthier alternatives to traditional spreads. While peanut butter was once considered a niche or foreign product in several European countries, its perception has changed significantly, driven by rising health awareness, evolving dietary habits, and increased influence from American and global food trends. Today, peanut butter is not only a staple in health and fitness circles but is also finding growing acceptance in mainstream households, particularly among millennials and Gen Z consumers who are more inclined toward natural, high-protein, and versatile food products.

The South American peanut butter market is experiencing steady growth, driven by increasing consumer awareness regarding the nutritional benefits of peanut butter and the rising demand for convenient, healthy snacks. The market is characterized by a preference for natural and organic products as consumers become more health conscious. The region’s diverse socio-economic landscape plays a crucial role in shaping consumption patterns, with more affluent countries like Brazil, Argentina, and Chile showing a higher demand for premium and organic variants of peanut butter. Meanwhile, other nations, such as Colombia and Peru, are still in the early stages of adopting peanut butter as a regular food item, resulting in a more gradual market penetration.

The Middle East and Africa (MEA) peanut butter market is experiencing significant growth, driven by both changing dietary preferences and the increasing demand for protein-rich snacks. Over the past decade, the region has seen a gradual shift toward more health-conscious food choices, with peanut butter becoming a popular option for consumers seeking healthier alternatives to traditional spreads. The MEA market for peanut butter is characterized by a diverse consumer base, with variations in preferences influenced by cultural practices, dietary habits, and economic conditions across different countries. Additionally, the growing popularity of Western food trends, including the rise of smoothies, protein bars, and nut-based snacks, has created new opportunities for peanut butter in various product formulations.

Key Findings of the Study

• The Global Peanut Butter Market is expected to reach USD 15.37 billion by 2035, at a CAGR of 6.67% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market.


• Based on the Texture, the Crunchy segment was attributed to holding the largest market in 2024.


• Hormel Foods Corporation, J.M. Smucker Company, Dr Oetker, The Hershey Company, Kraft Heinz, Kellogg Company, Mars, Inc., Unilever Plc, Associated British Foods plc, Conagra Brands, Inc. are some of the players in the market.