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India Peanut Butter Market Assessment, By Product Type [Creamy/Smooth, Crunchy/Chunky, Natural/Organic], By Packaging [Pet Containers, Glass Bottles/Jars], By Pack Size [100g - 350g, 351g - 1000g, More than 1000g], By End-Users [Households, Hotels/Restaurants/Cafes, Bakeries/Cake Shops, Others], By Distribution Channel [Online; Offline-Supermarkets/Hypermarkets, Convenience/Departmental Stores, Brand Kiosks, Others], By Region, Opportunities, and Forecast, FY2016-FY2030F
Market Report I 2024-04-19 I 85 Pages I Market Xcel - Markets and Data
The India Peanut Butter Market is expected to generate double digit CAGR of 11.21% during the forecast period between FY2023 and FY2030. The Indian peanut butter market will grow much faster than the global peanut butter market which was valued at about USD 6.03 billion in 2022 and will grow at a CAGR of 5.83% during the forecast period. This growth of Indian market will be driven by the changing taste preferences for dairy products among the Gen Z and Millennials class of consumers, increasing consumption of 'on-the-go' bakery products, rising levels of urbanisation and significant change in food consumption habits among the younger generation in India. Furthermore, growing health consciousness among the Indian population is also driving the peanut butter market's growth.
A staple commodity farmed all over the world, peanuts are commercially utilised to make oil, butter, flour, confections and snack foods. Among the most popular food spreads manufactured from these is peanut butter, which is created by dry-roasting and crushing peanuts. Peanut butter is energy-rich product and it also provide zinc, magnesium, potassium, and vitamin E, along with fibre, protein and unsaturated fats.
In India, the demand for peanut butter is being driven by the rising demand for high-protein food products and health consciousness among young and millennials. Consumers are more worried than ever about the health conditions like high blood pressure and heart chronic disease which in-turn is driving demand for healthy food such as peanut butter.
Production Process of Peanut Butter
The production process of Peanut Butter starts with peanuts being dry roasted then peeling of the nuts and removing the outer covers and then with the traditional method, grinding process is done. Mixing properly and then final step is the filling of the peanut butter into different jars and other packaging materials.
Nutritional Benefits of Peanut Butter
Peanut butter is a food product with many nutritional benefits. It contains plenty of fibre, vitamins, minerals, protein and fat. The vitamin E content of peanut butter is essential for correcting vision and muscular alignment. It also works as antioxidant, has the power to fight against joint inflammation and cancer. The market for peanut butter will grow as more consumers are preferring healthy and nutritional good.
Rise in 'Food on the Go' Consumption
Increase in expendable income and new food consumption trends such as having 'Food on the Go' is driving growth of peanut butter market. The younger generation in India is increasingly lacking cooking skills and due to higher level of digital literacy; makes them look for easily accessible, nutrient-dense dietary products available in the market. This has been linked to the rising "Food on the Go" trend and increase in consumption of Bakery and Fast Food products where often peanut butter is used.
Government Norms
A FSSAI licence is required for the establishment of food processing unit. Additionally, MSME and GST registration, an IEC code for exporting finished goods, local government approval for shops and establishments, a fire and safety registration, and, if relevant, registration for ESI, PF and labour regulations will be necessary. Entrepreneurs need to get in touch with the state's Pollution Control Board, if necessary.
Impact of COVID-19 on Indian Peanut Butter Market
The market for peanut butter in India had been adversely affected as the Indian government imposed one of the most strictest lockdown in mid-2020 to curb the spread of coronavirus. The lockdown led to supply chain disruption and temporary shutdown of food processing units due to which the peanut butter market experienced a modest decrease. However, in 2021 and 2022, the market posed a smart recovery and regained its share. Similar growth trend is anticipated to continue in the forthcoming years owing to various factors such as healthy living and a controlled diet in India.
In this report, India Peanut Butter Market has been segmented into following categories:
1. India Peanut Butter Market, By Product Type
1.1. Creamy/Smooth
1.2. Crunchy/Chunky
1.3. Natural/Organic
2. India Peanut Butter Market, By Packaging
2.1. Pet Containers
2.2. Glass Bottles/Jars
3. India Peanut Butter Market, By Pack Size
3.1. 100g - 350g
3.2. 351g - 1000g
3.3. More than 1000g
4. India Peanut Butter Market, By End-Users
4.1. Households
4.2. Hotels/Restaurants/Cafes
4.3. Bakeries/Cake Shops
4.4. Others
5. India Peanut Butter Market, Distribution Channel
5.1. Online
5.2. Offline
5.2.1. Supermarkets/Hypermarkets
5.2.2. Convenience/Departmental Stores
5.2.3. Brand Kiosks
5.2.4. Others
6. India Peanut Butter Market, By Region
6.1. East
6.2. West and Central
6.3. North
6.4. South
Key Players Competitive Landscape and Outlook
The market is characterised by the presence of a few significant small-to medium-sized local companies in addition to major players. The key players are expanding their presence in the market as the awareness and consumption for the product is increasing. The major organized sector players hope to grow their market share as end consumers are more accessible for them due to their strong distribution network across India.
Alpino Health Foods are specialist in the peanut butter industry and has lately increased the variety of peanut butters and healthy spreads it offers. AgroTech Foods Limited announced that it has started local production of "Sundrop Peanut Butter" at its new manufacturing facility in Gujarat.
Key Players operating in Indian Peanut Butter Market
1. DAS FoodTech Pvt. Ltd. (Pintola)
2. Houz Of Nature Pvt. Ltd (The Whole Truth/OneGreen)
3. Universal Corporation Ltd. (DiSano)
4. Alpino Health Foods Private Limited
5. Sundrop Foods India Private Limited
6. Dr Oetker India Private Limited
7. Melting Pot Concepts Private Limited (AS-IT-IS Nutrition)
8. The Butternut Co.
9. Tanvi Fitness Private Limited (MYFITNESS)
10. Ferrero India Pvt Ltd (Nutella)
Why You Should Buy This Report
Market Xcel reports are based on qualitative and quantitative data collected through 'on-ground' primary research interventions. Based on our in-depth research, our reports can also provide granular city/state level market size data. The report includes deeper actionable insights provided by the industry experts & Key Opinion Leaders thus offering cutting-edge business solutions. The forecast data included in the report is based on 'Drivers based forecasting' technique ensuring accurate decoding of the future.
1. Research Methodology
2. Product Overview
3. Impact of Covid-19 on India Peanut Butter Market
4. Executive Summary
5. Voice of Consumer
5.1. Sources of Product Knowledge
5.2. Factors Considered in Purchase Decision
5.2.1. Brand
5.2.2. Product Type
5.2.3. Taste
5.2.4. Price
5.2.5. Quantity
5.2.6. Quantity w.r.t Price
5.2.7. Packaging
5.2.8. Shelf Life
5.2.9. Health and Nutritional Benefits
5.3. Brand Awareness and Loyalty
5.4. Frequency of Purchase
5.5. Channel of Purchase
5.6. Views on Influencer Marketing
6. India Peanut Butter Market Outlook FY2016-FY2030F
6.1. Market Size and Forecast
6.1.1. By Value
6.1.2. By Volume
6.2. Market Size and Forecast
6.2.1. By Product Type
6.2.1.1. Creamy/Smooth
6.2.1.2. Crunchy/Chunky
6.2.1.3. Natural/Organic
6.2.2. By Packaging
6.2.2.1. Pet Containers
6.2.2.2. Glass Bottles/Jars
6.2.3. By Pack Size
6.2.3.1. 100g - 350g
6.2.3.2. 351g - 1000g
6.2.3.3. More than 1000g
6.2.4. By End-Users
6.2.4.1. Households
6.2.4.2. Hotels/Restaurants/Cafes
6.2.4.3. Bakeries/Cake Shops
6.2.4.4. Others
6.2.5. Distribution Channel
6.2.5.1. Online
6.2.5.2. Offline
6.2.5.2.1. Supermarkets/Hypermarkets
6.2.5.2.2. Convenience/Departmental Stores
6.2.5.2.3. Brand Kiosks
6.2.5.2.4. Others
6.2.6. By Region
6.2.6.1. East
6.2.6.2. West and Central
6.2.6.3. North
6.2.6.4. South
7. Pricing Analysis for Key Five Market Players
8. India Peanut Butter Market Mapping, FY2022
8.1. By Product Type
8.2. By Packaging
8.3. By Pack Size
8.4. By End-Users
8.5. By Distribution Channel
8.6. By Region
9. Macro-Business Environmental Scope
9.1. Value Chain Analysis
9.2. Supply Demand Analysis
9.3. Import Export Analysis
9.4. PESTEL Analysis
9.4.1. Political Factors
9.4.2. Economic Factors
9.4.3. Social Factors
9.4.4. Technology Factors
9.4.5. Environmental Factors
9.4.6. Legal Factors
9.5. Porter's Five Force Analysis
10. Market Dynamics
10.1. Trends and Developments
10.2. Growth Drivers
10.3. Growth Inhibitors
11. Case Studies (Best Practices Adopted by Major Players of Peanut Butter Market - Upto Three)
12. Key Players Landscape
12.1. SWOT Analysis for Key Five Market Leaders
12.2. Competition Matrix of Top Five Market Leaders
12.3. Market Revenue Analysis of Top Five Market Leaders (in %, 2022)
12.4. Mergers & Acquisitions (If Applicable)
12.5. Patent Analysis (If Applicable)
13. Key Players Outlook
13.1. DAS FoodTech Pvt. Ltd. (Pintola)
13.1.1. Company Details
13.1.2. Key Management Personnel
13.1.3. Products & Services
13.1.4. Financials (As Reported)
13.1.5. Key Market Focus & Geographical Presence
13.1.6. Recent Developments
13.2. Houz Of Nature Pvt. Ltd (The Whole Truth/OneGreen)
13.3. Universal Corporation Ltd. (DiSano)
13.4. Alpino Health Foods Private Limited
13.5. Sundrop Foods India Private Limited
13.6. Dr Oetker India Private Limited
13.7. Melting Pot Concepts Private Limited (AS-IT-IS Nutrition)
13.8. The Butternut Co.
13.9. Tanvi Fitness Private Limited (MYFITNESS)
13.10. Ferrero India Pvt Ltd (Nutella)
*Companies mentioned above DO NOT hold any order as per market share and can be changed as per the information available during research work
14. Strategic Recommendations
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