Inside America’s $2 billion peanut butter industry

Peanut butter is a $2 billion dollar industry in the U.S. and has continued to increase profits yearly as purchases grow and prices rise, though peanut butter’s price has remained low. Peanut butter has has a 90% household penetration rate, meaning it is seen in most American households. With that legacy, it’s a delicate balance for top brands to innovate while still being consistent with expectations. Three brands hold the top market share — Jif, Skippy and Peter Pan.