Walnut-based Spreads Market

Walnut-based Spreads Market Analysis

The Walnut-based Spreads Market is expected to register a CAGR of 5.6% during the forecast period.

The significant health benefits of walnut-based spreads, which are also a great source of protein, amino acids, lipids, and fatty acids drive the market growth globally. Walnut-based spreads are becoming more popular as a result of people's growing health consciousness. Consuming walnuts can reduce the risk of developing serious conditions like cancer, diabetes, and coronary heart disease. Additionally, the vegetarian and vegan population considers walnuts as one of the best superfoods due to their rich content of protein, fiber, essential fats, vitamins, and minerals. Thus the growing popularity of vegan lifestyles is also uplifting the demand for walnut-based spreads.

Moreover, walnut spreads have widespread acceptance in regional eateries, traditional foods, and savory dishes. The adaptability of walnuts as an ingredient has improved in recent years due to the rising international trading of walnuts as a commodity. Thus, rising consumer demand for tastier and higher-quality products as well as the emergence of new products in a variety of flavors is likely to support the expansion of the walnut-based spread market during the forecast period.

Walnut-based Spreads Market Trends

Rising Preference for Vegan Spreads

The market for walnut-based spreads is anticipated to expand due to factors such as an increase in the popularity of vegan spreads, rising demand for alternative proteins, and the expanding importance of essential fats in a regular diet. Several medical studies have proved the benefits of walnuts in heart health improvement due to their effectiveness in decreasing blood cholesterol levels to below 5%. Further, walnut-based spreads contain antioxidants, which are essential for healthy skin and smooth immune functions. Being the source of the greatest amount of antioxidants, walnut-based spreads can reduce the risk of developing age-related diseases as antioxidants are crucial for improving brain function. The rising demand for organic spreads, due to the increased health consciousness across the world, resulted in a large number of brands introducing organic versions of walnut-based spreads. For instance, Corky's Nuts, a California-based company, offers a raw organic walnut butter spread, which is USDA organic and CCOF organic certified. Other companies offering organic walnut spreads across the world include Blue Mountain Organics, Living Tree Community Foods, Nates, Old Dog Ranch, Artisana Organics, and Planet Organic.

Europe Holds Significant Market Share

The inclination of consumers toward plant-based and dairy-free dietary patterns is one of the major drivers of the walnut-based spreads market in Europe. Additionally, consumers show a preference for butter made with natural ingredients and without the use of additives or unnecessary sugar or salt. The trend of healthy eating, with the rise in vegan culture, has led to the growing demand for nut snacking, nut spreads, and nut milk as a replacement, escalating the whole consumption of nuts in different formats such as walnut spreads. European consumers are preferring walnut-butters due to their nutrition-rich profile and versatility as they can be consumed as a standalone spread or dip, or as a filler in confections, snack bars, or cookies. In addition, it can be used as an add-on ingredient in desserts, soups, sandwiches, smoothies, entrees, and oatmeal. Thus, widespread acceptance among potential consumers and the rising inclination towards plant-based dairy alternatives to overcome obesity prevalence are anticipated to boost the demand for walnut-based spreads in Europe over the forecast period.

Walnut-based Spreads Industry Overview

The major players in the market are adopting business strategies, like product innovation, mergers, acquisitions, partnerships, and production and geographical expansions to strengthen the market position. Artisana organics, Crazy go nuts, The Nutty Gourmet Inc, Walnutter, and Nutcessity Ltd are among the major players. Furthermore, key brands are experimenting with diversified flavors to acquire an untapped consumer base. For instance, Wellnut Farms, a U.S.-based company offers walnut butter in two different flavors including maple and salted caramel, for which the company won Sofi Silver Award from the Specialty Food Association in 2019.

Walnut-based Spreads Market Leaders

Walnut-based Spreads Market News

• In August 2020, The Nutty Gourmet launched a new line of nut butter. Four different kinds of walnut butter are included in the new lineup: a traditional roasted variety, a sea salt variety, a honey variety, and a maple cinnamon variety. The remaining two nut butter are salted pistachio butter and pecan butter with a praline flavor.
• In June 2020, Nutcessity launched a new keto, low-sugar, caffeinated coffee, and walnut nut butter. The coffee and walnut spread only contains 9.4% carbohydrates and 3.5% natural sugars and is perfect on crispbread, porridge, fruit, or in a morning smoothie.
• In April 2020, Nutty Gourmet donated the UC Davis Medical Center more than 6,000 jars of nut butter to sustain staff members throughout the COVID-19 pandemic. The company donated Jars of Pecan Praline Butter and Honey Walnut Butter.