Sweet spreads are added to food products to enhance its flavour or texture. They are available is a variety of flavour including chocolate, berries, nuts, seeds, among others.
Recently, there has been a rise in popularity of the vegan trend. As a result, dairy-alternative sweet spreads such as peanut butter, almond spread, coconut spread and hazelnut spread have gained substantial recognition. This has enabled to propel the demand for sweet spreads that are produced using plant-based ingredients. Furthermore, with the rise in healthy eating habits, there has been a rise in demand for food products, which are regarded to be “clean”, “free from” and “natural”. Manufacturers are thereby designing products adhering to these consumer expectations. This is anticipated to further drive the growth of the sweet spread market.
However, the use of preservatives and artificial sweeteners in sweet spreads can potentially hinder the sweet spread market growth. This is because consumers are gradually becoming health conscious and informed about the ingredients in their food products.
On the contrary, there has been a considerable rise in the demand for functional sweet spreads that offer nutritional benefits such as dietary fibers and antioxidant properties and are also low-calorie and natural. This can be regarded an opportunity by sweet spread manufacturers for the expansion of their consumer and market base.
The sweet spread market segment comprises of product type, packaging, distribution channel, and region. Depending on product type, the market is categorized into chocolate spread, jam jelly & preserves, nut butter and others. By packaging, it is bifurcated into glass and plastic. According to distribution channel, it is classified into supermarket & hypermarket, grocery & convenience store, online retail and others. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
By product type, the jams, jelly & preserves sweet spread category was the dominant segment in 2020 with 47.1% share. This is attributed to the fact that has a wide product offering as compared to other sweet spreads and is hence largely consumed. In addition, with the rise in trend of snackification among millennials consumer, the demand for jams, jellies and preserves has gained higher traction. However, the others segment is anticipated to grow at a faster rate during the sweet spread market forecast period, owing to the rising popularity of seed-based spreads due to its high protein and good fat content. These factors essentially contribute to the growing health consciousness among consumers.
On the basis of packaging, the glass category was the dominant segment in 2020 with 64.6% share in the market. This is due to consumers perception towards glass as a premium, non-toxic and reusable material. However, the plastic segment is anticipated to grow at a faster rate during the sweet spread market forecast period. This is because plastic containers are lightweight, durable, and are more suitable for transportation than glass.
As per distribution channel, the supermarket & hypermarket segment accounted for the maximum share in the sweet spread market in 2020. This is attributed to the fact that supermarkets & hypermarkets provide high visibility and attractive assortment of spread products to consumers. This enables them to discover new variety and understand the labels and differentiate better among products. Furthermore, supermarket chains are one of the frequently visited stores for purchasing grocery items. Hence, this factor is expected to boost the sales of sweet spread in the market. However, the online segment is anticipated to grow at a faster rate during the sweet spread market forecast period, owing to rising convenience for consumers and wider consumer reach due to brand websites.
Region wise, Europe was the prominent region in 2020 due to tremendous popularity and substantial consumption of sweet spreads in the region. In addition, this region is one of the largest producers and consumers of sweet spread and its products. Consumption of spreads in countries like Germany, France and U.K. is very high as compared to other countries of the world. Wide range of application in bakery and dessert, which are the leading markets in Europe, is a prime factor contributing to the sweet spread market growth. However, Asia-Pacific is expected to witness a significant CAGR, owing to the factors such as increasing applications in food products, rising demand for sweet spread products from young consumers, and consumer focus towards quality and safe, natural products and those with natural ingredients.
The key players profiled in this report include ConAgra Foods Inc., Duerr& Sons, Pioneer Foods, Unilever Group, Ferrero Group, Mondelez International, Dabur India Limited, Hormel Foods, Andros, and HERSHEY’S.
Recently, there has been a rise in popularity of the vegan trend. As a result, dairy-alternative sweet spreads such as peanut butter, almond spread, coconut spread and hazelnut spread have gained substantial recognition. This has enabled to propel the demand for sweet spreads that are produced using plant-based ingredients. Furthermore, with the rise in healthy eating habits, there has been a rise in demand for food products, which are regarded to be “clean”, “free from” and “natural”. Manufacturers are thereby designing products adhering to these consumer expectations. This is anticipated to further drive the growth of the sweet spread market.
However, the use of preservatives and artificial sweeteners in sweet spreads can potentially hinder the sweet spread market growth. This is because consumers are gradually becoming health conscious and informed about the ingredients in their food products.
On the contrary, there has been a considerable rise in the demand for functional sweet spreads that offer nutritional benefits such as dietary fibers and antioxidant properties and are also low-calorie and natural. This can be regarded an opportunity by sweet spread manufacturers for the expansion of their consumer and market base.
The sweet spread market segment comprises of product type, packaging, distribution channel, and region. Depending on product type, the market is categorized into chocolate spread, jam jelly & preserves, nut butter and others. By packaging, it is bifurcated into glass and plastic. According to distribution channel, it is classified into supermarket & hypermarket, grocery & convenience store, online retail and others. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
By product type, the jams, jelly & preserves sweet spread category was the dominant segment in 2020 with 47.1% share. This is attributed to the fact that has a wide product offering as compared to other sweet spreads and is hence largely consumed. In addition, with the rise in trend of snackification among millennials consumer, the demand for jams, jellies and preserves has gained higher traction. However, the others segment is anticipated to grow at a faster rate during the sweet spread market forecast period, owing to the rising popularity of seed-based spreads due to its high protein and good fat content. These factors essentially contribute to the growing health consciousness among consumers.
On the basis of packaging, the glass category was the dominant segment in 2020 with 64.6% share in the market. This is due to consumers perception towards glass as a premium, non-toxic and reusable material. However, the plastic segment is anticipated to grow at a faster rate during the sweet spread market forecast period. This is because plastic containers are lightweight, durable, and are more suitable for transportation than glass.
As per distribution channel, the supermarket & hypermarket segment accounted for the maximum share in the sweet spread market in 2020. This is attributed to the fact that supermarkets & hypermarkets provide high visibility and attractive assortment of spread products to consumers. This enables them to discover new variety and understand the labels and differentiate better among products. Furthermore, supermarket chains are one of the frequently visited stores for purchasing grocery items. Hence, this factor is expected to boost the sales of sweet spread in the market. However, the online segment is anticipated to grow at a faster rate during the sweet spread market forecast period, owing to rising convenience for consumers and wider consumer reach due to brand websites.
Region wise, Europe was the prominent region in 2020 due to tremendous popularity and substantial consumption of sweet spreads in the region. In addition, this region is one of the largest producers and consumers of sweet spread and its products. Consumption of spreads in countries like Germany, France and U.K. is very high as compared to other countries of the world. Wide range of application in bakery and dessert, which are the leading markets in Europe, is a prime factor contributing to the sweet spread market growth. However, Asia-Pacific is expected to witness a significant CAGR, owing to the factors such as increasing applications in food products, rising demand for sweet spread products from young consumers, and consumer focus towards quality and safe, natural products and those with natural ingredients.
The key players profiled in this report include ConAgra Foods Inc., Duerr& Sons, Pioneer Foods, Unilever Group, Ferrero Group, Mondelez International, Dabur India Limited, Hormel Foods, Andros, and HERSHEY’S.
KEY MARKET benefits for stakeholders
- The study provides an in-depth analysis of the global sweet spread market, with current and future trends to explain the imminent investment pockets in the market.
- Current and future trends are outlined in the report to determine the overall market attractiveness and single out profitable trends to gain a stronger foothold in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis of the current market and estimation for the same from 2020 to 2030 is provided to showcase the financial competency of the market.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights the business practices followed by the leading market players across various regions.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SWEET SPREAD MARKET, BY PRODUCT TYPE
CHAPTER 5: SWEET SPREAD MARKET, PACKAGING
CHAPTER 6: SWEET SPREAD MARKET, DISTRIBUTION CHANNEL
CHAPTER 7: SWEET SPREAD MARKET, BY REGION
CHAPTER 8: COMPETITION LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- ConAgra Foods Inc.
- Duerr& Sons
- Pioneer Foods
- Unilever Group
- Ferrero Group
- Mondelez International
- Dabur India Limited
- Hormel Foods
- Andros
- HERSHEY’S
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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