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

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.

Indian Peanut Butter Market Assessment, Opportunities and Forecast, 2016-2030F: Report Scope

"India Peanut Butter Market Assessment, Opportunities and Forecast, FY2016-FY2030F,” is a comprehensive report by Market Xcel, providing in-depth analysis and assessment of peanut butter market in India, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19 impact, opportunities and forecast between FY2023 and FY2030. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

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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  

·         DAS FoodTech Pvt. Ltd. (Pintola)

·         Houz Of Nature Pvt. Ltd (The Whole Truth/OneGreen)

·         Universal Corporation Ltd. (DiSano)

·         Alpino Health Foods Private Limited

·         Sundrop Foods India Private Limited

·         Dr Oetker India Private Limited

·         Melting Pot Concepts Private Limited (AS-IT-IS Nutrition)

·         The Butternut Co.

·         Tanvi Fitness Private Limited (MYFITNESS)

·         Ferrero India Pvt Ltd (Nutella)

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