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Market Research Report · Study period 2021-2031 Published: October 2026

Global Peanut Butter Market 2021–2031: Size, Share, Trends and Forecast

The global peanut butter market reached USD 6.34 billion in 2025 and is forecast to attain USD 8.55 billion by 2031, expanding at a CAGR of 5.1%. North America remains the largest regional market, while Asia-Pacific is generating the strongest incremental demand through urban retail expansion, rising protein consumption and rapid adoption in India and Southeast Asia. Conventional smooth peanut butter retains the volume core, but natural formulations, portable packaging and online channels are growing materially faster. The report quantifies value, volume, pricing, channel economics and company positioning across five regions and 25 country markets.

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Global Peanut Butter Market 2021–2031: Size, Share, Trends and Forecast — report cover

Market size & forecast

Market value · USD billion
Historical Forecast
Source: shev.io Research.
Report highlights
Market size (2025)USD 6.3 bn
Forecast (2031)USD 8.6 bn
CAGR (2025–2031)5.1%
Largest regionNorth America · 42%
Fastest-growingAsia-Pacific · 7.1%
ConcentrationModerate
PublishedOctober 2026

Key findings

▪︎Global peanut butter sales reached USD 6.34 billion in 2025 and will increase to USD 8.55 billion by 2031.
▪︎Global peanut production was projected at 51.78 million metric tons for 2025/26 by the USDA Foreign Agricultural Service, providing a broad raw-material base for processors.
▪︎Peanut butter accounts for more than 60% of peanuts consumed for food in the United States, according to the USDA Economic Research Service.
▪︎U.S. peanut butter consumption in 2024/25 stood 6% above the preceding ten-year average.
▪︎U.S. peanut production reached a record 6.5 billion pounds in 2024/25, 25% above the 2014/15 level.
▪︎Natural, organic and functional formulations collectively generated 38.0% of 2025 market value and are increasing their share of premium grocery assortments.
▪︎Jars retained 78.0% of market value in 2025, while squeeze packs and pouches are forecast to expand at a 9.0% CAGR.
▪︎Asia-Pacific represented 28.0% of 2025 revenue and will grow at a 7.1% CAGR through 2031.
▪︎Online retail is the fastest-growing route to market, advancing at a 9.6% CAGR as specialist brands use subscriptions, marketplaces and direct-to-consumer bundles.

Key report takeaways

✓︎Premium growth is shifting from basic creamy-versus-crunchy differentiation toward short ingredient lists, organic certification, protein positioning and flavor innovation.
✓︎North America supplies the largest profit pool, but Asia-Pacific will contribute the greatest percentage growth through 2031.
✓︎Portable squeeze packs and portion cups create incremental snacking occasions and command higher realized prices per kilogram than family jars.
✓︎Private label is intensifying price competition in conventional products, making brand equity, texture consistency and shelf visibility decisive.
✓︎Aflatoxin control, allergen segregation and traceability remain essential market-access capabilities for exporters and contract manufacturers.
✓︎Successful challengers combine premium formulation with concentrated digital distribution before expanding into supermarkets and club stores.
✓︎Manufacturers with diversified peanut origins, flexible pack lines and disciplined hedging are best positioned to protect margins during crop-price volatility.

Peanut Butter Market Segmentation by Formulation, Texture, Packaging and Channel

By Formulation

Conventional formulations remain the volume anchor because they deliver stable texture, familiar sweetness and competitive pricing. Natural and organic products are gaining shelf space as shoppers prioritize short ingredient lists and premium sourcing. Functional and flavored products will grow at 9.0% as brands add protein, reduced-sugar credentials, cocoa and regional flavors.

Conventional sweetened and stabilizedNaturalOrganicFunctional and flavored
By Texture

Smooth texture leads because it spreads consistently, works across sandwiches and recipes, and is readily processed into portion packs. Crunchy products retain a loyal adult consumer base and command strong visibility in mature grocery markets. Whipped, extra-crunchy and blended textures are smaller but benefit from premium differentiation.

SmoothCrunchyWhipped, extra-crunchy and other
By Packaging

Rigid plastic and glass jars dominate family consumption because they balance cost, shelf stability and portion flexibility. Squeeze packs reduce mess and support direct application to fruit, crackers and meals. Portion cups and sachets are expanding in travel, foodservice, schools and snack kits, while bulk packs remain tied to institutional and industrial demand.

Plastic and glass jarsSqueeze packs and pouchesSingle-serve cups and sachetsBulk tubs and drums
By Distribution Channel

Large-format grocery remains the principal channel because shelf visibility and promotions drive household replenishment. Club and mass merchants perform strongly in family sizes and multipacks, while convenience outlets favor portable products. Online retail is expanding through marketplaces, subscriptions and direct-to-consumer bundles; foodservice and industrial channels provide dependable bulk volume.

Supermarkets and hypermarketsMass merchants and club storesConvenience and specialty retailOnline retailFoodservice and institutionalIndustrial food manufacturing

Peanut Butter Market Regional Analysis and Country Outlook

North America generated 42.0% of global revenue in 2025, supported by deep household penetration, established sandwich and snacking occasions, and broad availability across grocery, mass, club and online channels. The United States anchors the region through high per-capita usage and large-scale domestic peanut processing, while Canada supports premium natural products and differentiated launches such as SKIPPY strawberry stripe.

Asia-Pacific is the fastest-growing region at a 7.1% CAGR. India combines domestic peanut availability with accelerating branded-spread adoption, while China, Indonesia and Thailand are attracting localized products, smaller pack sizes and modern-retail distribution. Australia remains a mature regional market with strong local brands, but premium natural products and provenance claims continue to support value growth.

Europe is developing through premium natural, palm-oil-free and organic propositions, led by the United Kingdom, Germany, France and the Netherlands. Latin America benefits from urban supermarket penetration and affordable protein positioning, while Middle East and Africa growth is concentrated in Gulf retail, South African grocery and selected institutional-nutrition applications.

Projected CAGR by region
North America4.2%
Europe4.8%
Asia-Pacific7.1%
Latin America5.5%
Middle East and Africa6.2%
Projected CAGR, 2021-2031. Source: shev.io Research.

Peanut Butter Market Competitive Landscape and Company Share

The market is moderately concentrated: the five largest suppliers account for an estimated 38.0% of global value, but concentration varies sharply by country. The J.M. Smucker Co. and Hormel Foods hold powerful North American positions through Jif and SKIPPY, while Post Holdings competes through Peter Pan and Kraft Heinz remains important in selected national markets.

Regional leaders retain defensible positions through local taste, sourcing and distribution advantages. Bega is prominent in Australia, Sundrop Brands and digital-native specialists compete in India, and premium brands including Pip & Nut, Pic's and Once Again build differentiation around texture, ingredient simplicity and provenance.

Portfolio strategy is moving toward portable formats, flavored extensions and focused ownership structures. Jif refreshed its brand architecture in 2026, Hormel and Forward Consumer Partners established Justin's as a standalone business in 2025, and SKIPPY expanded its international footprint through localized launches in Canada and Indonesia.

Each company profile covers:

Business overviewProduct & brand portfolioEstimated revenue and capacityRecent developmentsStrategy & outlook

Peanut Butter Market Forecast and Growth Opportunities to 2031

The market will add USD 2.21 billion between 2025 and 2031. Volume growth will remain steady, while premium formulation, convenience packaging and emerging-market mix lift value faster than tonnage. Asia-Pacific will deliver the strongest regional CAGR, but North America will remain the largest absolute revenue pool.

The central forecast assumes stable global peanut availability, continued expansion of modern grocery and online channels, and disciplined price realization. Upside will come from accelerated adoption in India and Southeast Asia, broader institutional nutrition use and successful protein-focused innovation; downside pressure will arise from crop shocks, severe retail trade-down and tighter allergen restrictions.

Winning suppliers will operate flexible production lines across jars, pouches and portion packs, maintain validated aflatoxin and allergen controls, and tailor recipes to local sweetness and texture preferences. Brand investment must connect peanut butter with snacking, fitness and cooking rather than relying exclusively on the traditional sandwich occasion.

➤︎High-protein, reduced-sugar and fortified formulations
➤︎Single-serve cups, sachets and squeezable packs
➤︎Localization of flavors for Asian and Middle Eastern consumers
➤︎Institutional nutrition and humanitarian-food applications
➤︎Premium natural brands in underpenetrated urban markets
➤︎Private-label manufacturing for discount and club retailers

Regulation and taxation

Excise, labelling and distribution rules shape where and how the market competes. The regimes that matter most here:

§︎The U.S. Food and Drug Administration regulates peanut butter through the standard of identity in 21 CFR 164.150 and requires peanuts to be declared as a major food allergen under federal labeling law.
§︎Commission Regulation (EU) 2023/915 establishes maximum contaminant levels, including aflatoxin controls applicable to groundnuts and products derived from them.
§︎The UK Food Standards Agency requires the 14 regulated allergens, including peanuts, to be emphasized in ingredient lists; prepacked-for-direct-sale foods have required full ingredient and allergen labeling since 1 October 2021.
§︎The Canadian Food Inspection Agency requires peanuts to be identified by their prescribed source name in the ingredient list, a Contains statement, or both.
§︎Organic claims in the United States require compliance with the USDA National Organic Program, while equivalent certified supply-chain controls apply in the European Union and other regulated organic markets.
§︎Exporters face destination-specific sampling, traceability, contaminant and language requirements, making lot-level testing and documented supplier approval central to market access.

Recent industry developments

Q3 2026
The J.M. Smucker Co. unveiled Jif's first major visual identity refresh in more than 30 years, with updated packaging scheduled to begin shipping in October 2026 and Jif To Go repositioned as Jif Dippers.
Q2 2026
Hormel Foods launched SKIPPY strawberry stripe in Costco Canada West, returning the brand to Canadian peanut butter spreads for the first time since 2017.
Q4 2025
Hormel Foods and Forward Consumer Partners completed a transaction establishing Justin's as a standalone company owned 51% by Forward and 49% by Hormel Foods.
Q4 2025
SKIPPY launched its Where There's a Jar, There's Joy campaign across television, social media and digital platforms.
Q1 2025
Sundrop Brands completed its acquisition of Del Monte Foods Private Limited in India, broadening its spreads and packaged-food distribution platform.
Q2 2024
Jif launched Peanut Butter & Chocolate Flavored Spread in jars and portable cups, its largest flavor innovation in nearly a decade.
Q2 2024
SKIPPY returned to Canada after a seven-year absence through five peanut-butter-inspired snacking products, beginning with Crispy Thin Potato Cookies.
Q1 2024
Hormel Foods announced SKIPPY peanut butter wafer cones and mini ball snacks for Indonesia through its partnership with Garudafood.

Report scope

Market definition. The market comprises branded and private-label peanut butter and peanut-based spreads sold to households, foodservice operators and industrial food manufacturers. Products include stabilized conventional peanut butter, natural and organic formulations, smooth and crunchy textures, flavored or fortified spreads, retail jars, squeeze packs, portion cups, sachets and bulk foodservice formats. Market value is measured at the manufacturer selling-price level, excluding downstream retail margins and taxes.

What you get
✓︎PDF market report
✓︎Excel workbook containing all market-size and forecast tables
✓︎Five-region and 25-country forecast database
✓︎Segment share and CAGR matrices
✓︎Competitive benchmarking workbook
✓︎Company profile compendium
✓︎Regulatory and market-access checklist
✓︎One analyst briefing session
Out of scope
—Whole and processed peanuts sold as snacks
—Peanut oil, flour, meal and defatted peanut powder sold separately
—Finished confectionery, bakery products and frozen sandwiches containing peanut butter
—Tree-nut, seed and mixed-nut spreads without peanut as the principal ingredient
—Pet food and animal-feed applications
—Informal household production not entering commercial channels

Table of contents

1 Introduction and Market Scope
1.1 Peanut Butter Market Definition
1.2 Product Scope and Exclusions
1.3 Units, Currency and Study Period
2 Research Methodology
2.1 Secondary Research Programme
2.2 Primary Interview Programme
2.3 Bottom-Up Market Sizing
2.4 Forecast Model and Quality Control
3 Executive Summary
3.1 Market Size and Growth Outlook
3.2 Segment and Regional Highlights
3.3 Competitive and Investment Takeaways
4 Peanut Butter Market Trends and Dynamics
4.1 Market Drivers
4.2 Market Restraints
4.3 Growth Opportunities
4.4 Porter's Five Forces Analysis
5 Market Size and Forecast by Formulation
5.1 Conventional Sweetened and Stabilized
5.2 Natural
5.3 Organic
5.4 Functional and Flavored
6 Market Size and Forecast by Texture
6.1 Smooth
6.2 Crunchy
6.3 Whipped, Extra-Crunchy and Other
7 Market Size and Forecast by Packaging
7.1 Plastic and Glass Jars
7.2 Squeeze Packs and Pouches
7.3 Single-Serve Cups and Sachets
7.4 Bulk Tubs and Drums
8 Market Size and Forecast by Distribution Channel
8.1 Supermarkets and Hypermarkets
8.2 Mass Merchants and Club Stores
8.3 Convenience and Specialty Retail
8.4 Online Retail
8.5 Foodservice and Institutional
8.6 Industrial Food Manufacturing
9 Peanut Butter Market Regional and Country Analysis
9.1 North America
9.1.1 United States
9.1.2 Canada
9.1.3 Mexico
9.2 Europe
9.2.1 United Kingdom
9.2.2 Germany
9.2.3 France
9.2.4 Netherlands
9.2.5 Spain
9.2.6 Italy
9.2.7 Rest of Europe
9.3 Asia-Pacific
9.3.1 China
9.3.2 India
9.3.3 Japan
9.3.4 Australia
9.3.5 South Korea
9.3.6 Indonesia
9.3.7 Thailand
9.3.8 Rest of Asia-Pacific
9.4 Latin America
9.4.1 Brazil
9.4.2 Argentina
9.4.3 Chile
9.4.4 Rest of Latin America
9.5 Middle East and Africa
9.5.1 South Africa
9.5.2 Saudi Arabia
9.5.3 United Arab Emirates
9.5.4 Nigeria
9.5.5 Rest of Middle East and Africa
10 Competitive Landscape and Company Share
10.1 Market Concentration and Company Shares
10.2 Brand, Pricing and Distribution Benchmarking
10.3 The J.M. Smucker Co.
10.4 Hormel Foods Corporation
10.5 Post Holdings, Inc.
10.6 The Kraft Heinz Company
10.7 Bega Cheese Limited
10.8 Sundrop Brands Limited
10.9 Pip & Nut Ltd.
10.10 Pic's Peanut Butter Ltd.
10.11 Once Again Nut Butter Collective, Inc.
10.12 Alpino Health Foods Private Limited
11 Regulation, Allergen Control and Supply Risk
11.1 Standards of Identity and Product Labeling
11.2 Aflatoxin and Food-Safety Controls
11.3 Trade, Traceability and Organic Certification
12 Forecast Scenarios and Growth Opportunities
12.1 Baseline, Upside and Downside Forecasts
12.2 Product and Packaging Opportunities
12.3 Regional and Channel Priorities
12.4 Strategic Recommendations
List of figures (19)
Global Peanut Butter Value and Volume Index, 2021-2025
Primary Interviews by Company Tier
Primary Interviews by Region and Seniority
Global Peanut Butter Market Size Forecast, 2021-2031
Revenue Growth Contribution by Region, 2025-2031
Directional CAGR Impact of Market Drivers and Restraints
Porter's Five Forces Impact Profile
Peanut Butter Market Share by Formulation, 2025
Peanut Butter Market Share by Texture, 2025
Peanut Butter Market Share by Packaging, 2025
Peanut Butter Market Share by Distribution Channel, 2025
Peanut Butter Market Share by Geography, 2025
Regional Peanut Butter Market Share, 2025
Regional Peanut Butter Market CAGR, 2025-2031
Global Peanut Butter Company Market Share, 2025
Competitive Positioning by Geographic Reach and Premium Mix
Regulatory Burden by Market-Access Requirement
Baseline, Upside and Downside Market Forecast, 2025-2031
Opportunity Attractiveness by Segment and Region
List of tables (41)
Peanut Butter Market Definition, Inclusions and Exclusions
Historical Global Market Value, Volume and Average Selling Price, 2021-2025
Market-Sizing Variables, Units and Validation Sources
Forecast Scenario Assumptions and Sensitivity Ranges
Global Market Snapshot: Value, Volume, CAGR and Concentration
Leading and Fastest-Growing Segments, 2025-2031
Driver Impact by Geography and Forecast Horizon
Restraint Impact by Geography and Forecast Horizon
Peanut Butter Market Porter's Five Forces Assessment
Market Value and Forecast by Formulation, 2021-2031
Market Volume and Average Price by Formulation, 2021-2031
Market Value and Forecast by Texture, 2021-2031
Market Volume and Average Price by Texture, 2021-2031
Market Value and Forecast by Packaging, 2021-2031
Market Volume and Average Price by Packaging, 2021-2031
Market Value and Forecast by Distribution Channel, 2021-2031
Market Volume by Distribution Channel, 2021-2031
Market Value and Forecast by Geography, 2021-2031
Market Volume and Average Price by Geography, 2021-2031
North America Market by Country: United States, Canada and Mexico
Europe Market by Country: United Kingdom, Germany, France, Netherlands, Spain and Italy
Asia-Pacific Market by Country: China, India, Japan, Australia, South Korea, Indonesia and Thailand
Latin America Market by Country: Brazil, Argentina and Chile
Middle East and Africa Market by Country: South Africa, Saudi Arabia, United Arab Emirates and Nigeria
Country Growth, Per-Capita Demand and Price-Tier Ranking
Estimated Company Market Shares and Competitive Positioning, 2025
The J.M. Smucker Co. Company Profile
Hormel Foods Corporation Company Profile
Post Holdings, Inc. Company Profile
The Kraft Heinz Company Company Profile
Bega Cheese Limited Company Profile
Sundrop Brands Limited Company Profile
Pip & Nut Ltd. Company Profile
Pic's Peanut Butter Ltd. Company Profile
Once Again Nut Butter Collective, Inc. Company Profile
Alpino Health Foods Private Limited Company Profile
Peanut Butter Regulations by Major Market and Authority
Aflatoxin, Allergen, Labeling and Traceability Control Checklist
Market Forecast by Scenario, 2025-2031
Priority Growth Opportunities by Addressable Value and Time Horizon
Strategic Action Matrix for Brands, Processors and Investors

Peanut Butter Market Research Methodology

The study combines producer and brand revenue analysis, retail assortment audits, trade-flow assessment, peanut supply statistics, pricing research and structured primary interviews. Historical data were normalized to manufacturer selling prices and reconciled across products, channels and countries.

Market sizing

The bottom-up model aggregates branded, private-label, foodservice and industrial sales from producer volumes, pack architecture and realized prices. Results are reconciled against household consumption, retail turnover, trade and available peanut-processing data.

Forecast basis

Forecasts incorporate population, income, modern-retail penetration, product adoption, channel mix, peanut availability, pricing, innovation and regulatory change. Baseline, upside and downside cases test crop costs, emerging-market adoption and premiumization.

Validation

All datasets pass source triangulation, interview validation, segment-reconciliation and senior-economist review.

Primary research programme

Interviews validated formulation boundaries, manufacturer selling prices, private-label penetration, channel margins, pack-size ladders, industrial demand and regional adoption. They also established the commercial effect of aflatoxin controls, allergen segregation, promotional intensity and raw-peanut procurement cycles.

By company tier
Top tier38%
Mid tier35%
Smaller players27%
By seniority
C-level / founders29%
Functional / unit leaders43%
Managers / specialists28%
By region
Americas41%
EMEA26%
Asia-Pacific33%
Participants interviewed
Peanut butter brand ownersPrivate-label and contract manufacturersPeanut shellers, blanchers and ingredient processorsPackaging suppliersImporters and distributorsSupermarket and e-commerce category buyersFoodservice and institutional procurement leadersBakery, confectionery and nutrition-product manufacturersFood-safety and quality specialists
Secondary sources
Tier 1
Official government & intergovernmental statistics
Tier 2
Industry associations & regulators
Tier 3
Company filings & business press
National statistics offices, agriculture ministries and customs authoritiesUSDA, FAOSTAT and UN Comtrade agricultural and trade databasesFood-safety, labeling and tax authoritiesPeanut grower, processor and food-industry associationsCompany annual reports, investor disclosures and product portfoliosRetail assortment, pricing and packaging audits

Frequently asked questions

How large is the global peanut butter market?

The market reached USD 6.34 billion in 2025.

What is the forecast value of the peanut butter market in 2031?

Global market value will reach USD 8.55 billion by 2031.

What CAGR will the peanut butter market record?

The market will expand at a 5.1% CAGR between 2025 and 2031.

Which region has the largest peanut butter market share?

North America led the market with 42.0% of global value in 2025, supported by high household penetration and extensive retail availability.

Which region is growing fastest?

Asia-Pacific is the fastest-growing region, with a forecast CAGR of 7.1% through 2031.

Which peanut butter formulation leads the market?

Conventional sweetened and stabilized products led with 62.0% of 2025 market value. Natural, organic and functional products are gaining share at faster growth rates.

Which packaging format is expanding fastest?

Squeeze packs and pouches will grow at a 9.0% CAGR as brands target portable, mess-free snacking and direct-application occasions.

Who are the leading peanut butter companies?

Leading participants include The J.M. Smucker Co., Hormel Foods, Post Holdings, Kraft Heinz, Bega Cheese, Sundrop Brands, Pip & Nut, Pic's and Once Again Nut Butter.

What products are included in the market definition?

The scope includes commercial peanut butter and peanut-based spreads sold in jars, pouches, portion packs and bulk formats through retail, foodservice and industrial channels.

How important is peanut supply to the forecast?

Global peanut production was projected at 51.78 million metric tons in 2025/26. Edible-grade availability, crop quality and price transmission directly influence peanut butter margins and promotional activity.

How do allergen rules affect the market?

Peanut is a major regulated allergen in the United States, Canada, the United Kingdom and European Union. Manufacturers require prominent labeling, validated segregation, sanitation controls and documented traceability.

Where are the strongest investment opportunities?

The strongest opportunities are natural and functional formulations, portable packaging, online distribution, Indian and Southeast Asian expansion, and private-label manufacturing.

Have a question about this report?

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DO
David Okafor
Analyste de l'agroalimentaire, shev.io Research
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