UK spreads group Pip & Nut has is launching a new cashew butter nut butter this month.
The nationwide launch of cashew nut butter aims to capitalise on growing demand in the UK for nut butters, the company said. According to data cited by Pip & Nut, the category is growing by 14% year-on-year.
Alongside the new variety, Pip & Nut will also be introducing a series of limited edition products. The first of these will be a crunchy maple peanut butter spread. This will be available throughout the UK for nine months and will then be replaced with a new limited edition product in February. Pip & Nut said this strategy will enable it to remain at the “forefront” of the nut category.
The products will launch in Sainsbury’s, Ocado, Wholefoods, Selfridges and a raft of independents nationwide as well as Irish supermarket chain Dunnes.
Founder Pippa Murray commented: “We know people are always on the look out for healthy products, which are free from refined sugar, that are naturally high in protein and healthy fats but most importantly still taste great.”
Murray revealed Pip & Nut has seen sales grow by 500% with revenue now expected to reach GBP3.3m (US$4.8m) in the firm’s first full year of trading.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData