Global Market Study on Spreads (2019-2028) - Marked Preference for ‘Healthier’ Bases
- Rep Id : XPLREP3896
- Published On : July, 2019
- No. of Pages : 278
- Category : Food
The global spreads market is estimated to be valued at ~US$ 23 Bn by the end of 2019, with a healthy growth projection at 5% CAGR through 2028. The premiumization trend has increased the demand for spreads all across the globe, fueling the consumer perception for high-quality and value-added products that promise improved health benefits. Consumers are willing to pay premium price for products offering obvious health benefits – the only prerequisite being the promise of a unique offering that meets their basic dietary and health needs, along with a sensory indulgence.
Chocolate-based Spreads and Honey Spreads to Gain Traction
- Chocolate spreads are anticipated to witness maximum growth opportunity over the forecast period with a significant CAGR growth. Nutella, offered by Ferrero S.p.A, is one of the most popular chocolate spread brands among consumers.
- Honey’s recognized health halo includes numerous health benefits. Increasing demographics of health- and wellness-conscious consumers are providing strong market prospects for honey spreads over the forecast period.
- Consumers have started embracing nut-based spreads as a healthier alternative to conventional spreads as these are high in protein, provide an instant energy boost, and mainly satisfy their hunger requirements instantly. Besides, consumers are using nut- and seed-based spreads as a healthy ingredient in smoothies, cake toppings, ice-cream toppings, and other breakfast products, which is another factor boosting the demand for the nut-based spreads among consumers.
- Market growth of jams and preserve spreads is likely to be hampered by the rising awareness among consumers regarding the sugar level present in these products. Consumers are more aware and educated about the negative health effects of high sugar consumption and related health risks and diseases such as obesity and diabetes. Prevailing health concerns are expected to remain especially high among millennials and baby boomers, which is anticipated to affect the demand for jams and preserves over the forecast period.
The Trend of ‘Organic’ Continues to Influence New Launches
- Manufactures and big players participating in the global spreads market are continuously updating their inventories with new product lines and launching innovative spread products to cater to the changing consumer eating habits and demands. Continuous product launches are anticipated to proliferate the growth of the spreads market over the forecast period.
- For instance, in 2018, VEGO Good Food GmbH, launched Vego Chocolate spread in the United Kingdom market to cater to the growing demand for dairy-free, vegan products. The chocolate spread offered by the company is made using raw cane sugar, sunflower oil, hazelnuts, cocoa powder, lecithins (sunflower), shea butter, and extracted vanilla.
- In 2016, MacFarms, LLC, a manufacturer of Macadamia and its products, launched the smooth edition of Australia’s first choc-macadamia spread Macabella.
- The organic segment in the global spreads market is anticipated to witness lucrative growth over the forecast year owing to the increasing consumer demand for healthier and organic products. Manufacturers of spreads are thus, updating their inventories with organic products to cater to the changing consumer trends and altering consumption patterns. Besides, manufacturers are avoiding the use of genetically-modified food products attributing to the growing consumer concerns towards the health adversities of genetically-modified food products.
Spreads Market: Competitive Strategies
- The growing health and wellness trend among consumers, and the rising prevalence of lifestyle-related diseases and other health risks due to improper dietary intake and insufficient nutrition, are escalating the demand for low-calorie, low-fat, and healthy spreads over the forecast years.
- Expansion Approach: Strengthening partnerships in high growth regions and expanding product offerings across the global market through acquisitions and joint ventures.
- Product Innovation and Launches: Strengthening research and development capabilities to offer new and innovative products and flavors for different categories of spreads.
Europe and North America Leading the Way in Spreads Market
Due to the increasing health consciousness and the ability to spend on premium and specialty food products, North America and Europe are prominent regions in the spreads market. Besides, the concentration of big players in these regions is providing strong prospects for spreads in these regions.
APEJ (Asia Pacific excluding Japan) is expected to register a prominent growth rate for the spreads market over the forecast period. The region is anticipated to have growing demand for nut-based and chocolate-based spreads due to increasing per capita spending of the consumers. Besides, the increasing health consciousness among consumers is giving rise to honey-based spreads in the region.
XploreMR has published a new study on the global spreads market, providing forecast of the revenue growth for the period 2019 to 2028. The report enumerates valuable insights to enable readers to make winning business decisions for the future growth of their businesses. The report sheds light on significant factors that are constantly shaping the growth of the spreads market, untapped opportunities for manufacturers, trends and developments, and other insights across various key segments. Macroeconomic factors that are directly or indirectly affecting the growth of the global spreads market are also incorporated in the report.
The spreads market has been bifurcated on the basis of product type, end use, distribution channel, nature, and region. Each of these segments are analyzed to provide readers a holistic view of the industry.
Key Questions Answered
- What will be the size of the spreads market in 2028?
- Which region will remain most lucrative for the spreads market growth?
- Which source is most preferred for spreads? What was its market size in 2019?
- What is the market share comparison between different distribution channels in the spreads market?
- What will be the growth rate of organic spreads in 2021?
- What will be the volume sales of spreads for different regions in 2024?
Key indicators associated with the spreads market have been evaluated thoroughly in the report. The study highlights vital market dynamics such as key drivers, challenges and trends, along with potential opportunities in the spreads market. A comprehensive study on the supply chain of the spreads market has also been encompassed in the report.
Other key aspects laid down in the spreads market include cost breakdown, pricing strategy of the leading market players, and raw product cost breakdown. Furthermore, forecast factors and forecast scenario of the spreads market have been encompassed in the report to understand future prospects of the market.
A comprehensive evaluation and forecast on the spreads market have been provided on the basis of product type, end use, distribution channel, nature, and region. The report also renders imperative numbers such as historical and forecast size of various segments of the spreads market.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments have been delivered in the report. The spreads market has been analyzed at both regional and country levels.
The spreads market report provides an exhaustive evaluation on the structure of the spreads market, in tandem with a dashboard view of all the leading companies profiled in the report. A company share analysis on the spreads market players has also been presented in the report, apart from the footprint matrix on the profiled market players. The report depicts the presence of manufacturers of spreads by leveraging an intensity map.
Key companies profiled in the spreads market report include
- Nestlé S.A.
- The Kraft Heinz Company
- Conagra Brands, Inc.
- Pioneer Food Group Ltd
- The Hershey Company
- Strauss Group Ltd.
- The J. M. Smucker Company
- Hormel Foods Corporation
- General Mills Inc.
- Atlantic Grupa d.d.
- Dr. Oetker GmbH
- Ferrero S.p.A.
A realistic methodology along with a holistic approach makes the base for the incisive insights provided in the spreads market for the study evaluation period. The XploreMR report comprises of detailed information on the growth prospects of the spreads industry along with riveting insights into the forecast assessment of the market.
Extensive primary and secondary research have been employed to garner incisive insights into the forecast study of the spreads market. The report on the spreads market has further gone through a cross-validation by the in-house professionals to make the spreads market report one-of-its-kind with the highest credibility.