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The spreads market size is forecast to increase by USD 7.52 billion at a CAGR of 4.2% between 2023 and 2028. The market is experiencing significant growth due to several key trends. First, the increasing preference for on-the-go consumption has led to an increase in demand for convenient and portable spreads such as nut butters and fruit preserves. Second, the growing popularity of e-commerce channels has made it easier for consumers to access a wide range of spreads from the comfort of their homes. Additionally, health-conscious consumers are turning to natural and organic spreads made with ingredients like Bread, Oatmeal, Baked goods, Nutty, Fruity, Chocolatey, Spiced Cashew Butter, Roasted cashews, Coconut oil, Coconut sugar, and Maple syrup, as they offer health benefits over traditional spreads. These trends are expected to continue driving the growth of the market in the coming years.
From nutty and fruity to chocolatey and spiced, these delectable toppings elevate your baked goods to new heights. First, let's explore the nutty side of spreads. Roasted cashews, with their rich and creamy texture, make a fantastic base for a scrumptious spread. Combine them with a touch of coconut oil, coconut sugar, and a hint of sea salt for a simple yet delicious creation. For a more complex flavor profile, try spiced cashew butter, infused with warm spices like cinnamon and cardamom. Next, let's delve into the fruity realm. Fresh strawberries, chia seeds, and a dash of lemon juice create a delightful, tangy spread that's perfect for those seeking a lighter option. For a more decadent experience, blend roasted hazelnuts with cocoa powder, maple syrup, and a hint of vanilla to create a velvety chocolatey hazelnut spread. Now, let's not forget about the fruity-nutty hybrids. Combine roasted cashews with dried fruits like raisins, apricots, or figs for a nutty, fruity spread that's both sweet and savory. For a more exotic twist, add a pinch of ground ginger, a squeeze of lemon juice, and a touch of lemon zest to create a zesty, fruity spread that's sure to delight your taste buds. Lastly, let's explore the chocolatey side of spreads. A classic favorite, chocolatey spreads are a must-have in every kitchen. To make your own, blend roasted hazelnuts with cocoa powder, a drizzle of honey, and a pinch of flaky sea salt for a rich, decadent spread that's irresistible on toast or as a dip for fruits. To create these spreads at home, all you need is a food processor or high-speed blender, a glass jar to store your creation, and a few simple ingredients. So, go ahead and unleash your inner chef, and let the magic of spreads transform your daily bread into a gourmet delight.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The offline segment is estimated to witness significant growth during the forecast period. The market encompasses various categories, including nutty, fruity, and chocolatey options, found in department stores, supermarkets, hypermarkets, convenience stores, and restaurants. Major retailers have dedicated sections for these spreads. companies employ marketing tactics, like branding through in-store signages and price discounts on product packaging, to attract customers.
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The offline segment was the largest segment and was valued at USD 18.83 billion in 2018. Traditional retailers like Walmart and Walgreens have long offered a diverse assortment of butter, fruit, and chocolate spreads on their shelves. Operators in this sector base their presence on factors such as geographical reach, ease of production and inventory management, and efficient transportation methods. Coconut oil, coconut sugar, maple syrup, and roasted cashews are common ingredients used in the production of nutty spreads, while fruit spreads may include oatmeal as a thickener. Hence, such factors are fuelling the growth of this segment during the forecast period.
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APAC is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The European market showcases a significant expansion, with key players offering a diverse range of spreads such as Lemon juice and zest, Chocolatey Hazelnut Spread made with Roasted hazelnuts, Cocoa powder, Flaky sea salt, Almond extract, and Dark chocolate chips. The market growth is primarily fueled by the burgeoning bread market, as consumers in the UK, France, Germany, and Italy favor sandwiches and crackers with various spreads. The trend of busy lifestyles leading to increased consumption of takeaway foods and beverages further boosts market growth.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increase in on-the-go consumption is notably driving market growth. Urbanization has brought about notable shifts in consumer lifestyles and eating habits worldwide. The consumption of processed food products, including spreads for sandwiches, has seen a marked increase due to their convenience and consistent taste. These convenient food items save time and effort for consumers, making them a popular choice.
Additionally, the variety of spreads available caters to diverse preferences, such as health-conscious individuals opting for peanut butter spreads. The growing number of working individuals globally has further fueled the demand for easy meal options. For instance, mint chutney made from fresh mint leaves, coriander, green chilies, lime juice, and spices, or a tangy chutney made from hazelnut spread, offers a quick and irresistible addition to breakfast sandwiches. The flexibility and affordability of spreads have made them an indispensable part of modern diets. Thus, such factors are driving the growth of the market during the forecast period.
Growing popularity of e-commerce channels is the key trend in the market. The increase in e-commerce platforms has significantly boosted the market for healthy and flavorful spreads. Consumers now have easy access to a wide range of spreads, including creamy hummus made from chickpeas, crunchy peanut butter, chocolaty nutella, and savory spreads like garlic and tahini. Olive oil and lemon spreads are also popular choices.
E-commerce's global expansion, driven by the proliferation of smartphones, has enabled customers to purchase these spreads from regional and international brands. Major online retailers like Amazon and eBay offer a vast selection of spreads, providing personalized shopping assistance and product recommendations. This convenience and ease of access have made spreads a staple in many households. Thus, such trends will shape the growth of the market during the forecast period.
Health impacts of spreads is the major challenge that affects the growth of the market. Individuals leading hectic lifestyles often opt for quick breakfast options, such as drive-thru meals, which may include various spreads like Hazelnut Chocolate Spread or Peanut Butter. While these options save time, some spreads, such as cheese and butter, contain high levels of saturated fats that can negatively impact heart health.
Toasted bread with a warm, crisp texture pairs perfectly with these spreads. However, it's essential to practice moderation to maintain a balanced diet. Excessive consumption of high-fat spreads can lead to health issues like high blood pressure and heart diseases. Therefore, consider incorporating nutritious spreads, such as those made with natural ingredients, into your morning routine for a healthy start to the day. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Andros SNC: The company offers spreads such as Bonne Maman that has no high fructose corn syrup, no additives or preservatives and is gluten-free.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is a vibrant and ever-evolving landscape, brimming with an irresistible array of flavors and textures. From nutty and fruity to chocolatey and spiced, these versatile spreads add warmth and crispness to our daily lives, transforming simple meals into memorable experiences. Baked goods enthusiasts delight in the rich, nutty aroma of roasted cashews and the subtle sweetness of coconut sugar, as they whip up batches of delectable oatmeal bread. With a food processor or high-speed blender, they easily create nutty cashew butter or velvety chocolatey hazelnut spread, perfect for a quick and healthy breakfast spread or a decadent dessert.
Fresh fruits, such as strawberries, chia seeds, and a hint of cardamom, come together to create tangy chutneys, adding a sweet and tangy dimension to toasted bread. Spiced cashew butter, infused with a blend of ground ginger, cinnamon, and a pinch of sea salt, adds warmth to the palate. For those seeking a savory twist, consider the bold flavors of mint chutney, made from fresh mint leaves, coriander, green chilies, and lime juice, or the rich, creamy hummus, made from chickpeas, garlic, tahini, olive oil, and a squeeze of lemon. Whatever your preference, the market offers a world of irresistible, mouthwatering options, from nutty and fruity to chocolatey and savory, all waiting to be savored.
Market Scope |
|
Report Coverage |
Details |
Page number |
138 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.2% |
Market growth 2024-2028 |
USD 7.52 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.9 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 31% |
Key countries |
US, UK, Germany, China, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Andros SNC, Artisana Organics, B and G Foods Inc., Bakbel, Barry Callebaut AG, Conagra Brands Inc., Euro-American Brands LLC, Ferrero International S.A., Hormel Foods Corp., Kewpie Corp., Land O lakes Inc., Nestle SA, Sioux Honey Association Crop., The Hain Celestial Group Inc., The Hershey Co., The J.M Smucker Co., The Kraft Heinz Co., Upfield BV, Ventura Foods LLC, and Wilkin and Sons Ltd. |
Market dynamics |
Parent market analysis, market report , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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