Market Trends of Almond-based Spreads Industry
This section covers the major market trends shaping the Almond-based Spreads Market according to our research experts:
Consumer Inclination Toward Healthy Food
An increase in consumer desire for healthy food options and shifting food consumption habits are the main factors driving the global demand for almond-based spreads. The rising concern of lifestyle disorders, such as obesity, diabetes, and cardiovascular diseases, is influencing consumer shift toward a plant-based diet. Thus, the growing consumer preference for vegan foods is the key factor promoting the adoption of almond-based spreads as a substitute for animal-based spreads, such as butter and mayonnaise.
Further, the growing number of vegan and vegetarian consumers due to the rising popularity of dairy-free and meat-free meals is anticipated to drive the sales of almond-based spreads during the forecast period. Adding on, these consumers perceive nuts as a great protein alternative, creating a huge opportunity for nut-based products, such as almond-based spreads. Moreover, changing consumer lifestyle choices, such as organic, low-calorie, and keto-friendly diets, are influencing manufacturers to innovate their product offerings. For instance, in October 2021, Maison des Noix, a Japanese brand of nut butter, launched a new line of nut spreads, including almond butter, cashew butter, and pumpkin seed butter. All products are JAS and EU-certified organic and without any added oils, sugars, or additives.
North America Holds the Largest Share
Factors such as hectic lifestyles, the increasing working women population, and lack of time to prepare foods are augmenting the demand for quick breakfast options. The high nutritional benefits of almond-based spread over other nut-based spreads, in terms of fiber, mineral, and vitamin content, have driven the demand for almond-based spreads across the region. There has been a rising demand for sugar-reduced spreads among health-conscious and diabetic consumers. Thus, brands such as Jus' Amazin, The Butternut Co., Pintola, and d alive are offering unsweetened almond butter spreads.
Additionally, the increasingly health-conscious population engaged in sports, exercise, and outdoor activities subsequently increases the consumption of nutrient-rich food, such as almond-based spreads. According to the Physical Activity Council, the number of participants in physical activity in the United States was 232.6 million in 2021. These health and fitness enthusiasts prefer products such as almond-based spreads as they are packed with proteins and healthy fats.
