Ferrero launches a Nutella spread with peanuts to fuel US growth

Ferrero is launching a version of its iconic Nutella spread that includes peanuts, the first taste innovation for the 61-year-old brand, Food Dive reported.

Nutella Peanut, which will debut next spring, combines the creaminess of the iconic cocoa hazelnut spread with roasted peanuts. It was created for the peanut-hungry North American market where consumers crave the legume. The product will play a significant role in helping the Italian-based Ferrero further build its presence in the U.S.

The new spread took five years to create and “really shows the focus that [the company has for] this area and for the growth that they want to see in this market,” Seth Gonzalez, senior director of marketing at Ferrero, said in an interview.

Similar to Nutella, Gonzalez said the product is not being viewed as a competitor to peanut butter.

U.S. peanut consumption has soared during the last two decades, peaking during the COVID-19 pandemic, according to USDA data cited by The Peanut Institute.

Nearly 60% of peanuts go toward peanut butter, with 17% for candy and 2% as an ingredient. USDA noted in 2022 that peanuts are responsible for 65% of all U.S. nut consumption, with each person consuming 8 pounds annually.

Ferrero plans to produce Nutella Peanut in a facility in Illinois where it makes other products with peanuts, including Butterfinger and Baby Ruth. The company is currently spending $75 million to develop the infrastructure needed for the product.

Executives are optimistic Nutella Peanut will provide additional momentum for the already strong brand. Nutella sales have nearly doubled since 2020, Gonzalez said.

Depending on consumer reception, Ferrero could eventually offer Nutella Peanut in different formats. In recent years, the company prioritized introducing its traditional hazelnut spread into products such as biscuits and crunchy wafers, as well as portable options like Nutella & Go, which allow consumers to dip snacks into the spread.