Industry Background:
Chocolate spreads are referred to as a sweet chocolate flavored pastes which are majorly spread on bread, toasts, pancakes and other grain products. These spreads have become a most integral part of the breakfast and evening suppers. Resurging interest in home baking and cooking have increased the frequent consumption of sweet spreads across the globe. The market of the chocolate spread is increasing due to the rising consumption of chocolate spread over a piece of bread for the breakfast, and children are more inclined towards it. But the nutritional value of the chocolate can lower the market value, as also sugar content is more in some of the chocolate spread.
According to AMA, the market for Chocolate Spread is expected to register a CAGR of 4.2% during the forecast period to 2026. This growth is primarily driven by Increasing Consumption Of Chocolate Spreads As A Part Of A Breakfast Meal and Expenditure Power Among The Consumers In Purchasing These Products For Themselves And Indulging In New Products.
Globally, a noticeable market trend is evident Industry Players Are Offering Consumers Innovative And A Method Of Using Sweet Spreads
. The Food Products sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Ferrero Rocher (Italy), The Hershey (United States), Hormel Foods (United States), The J.M. Smucker (United States), PASCHA (Canada), Dr.Oetker India (India), Young'S (United Kingdom) and Date Lady (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
Hindustan Unilever Limited decided to separate its spread business and acquired Kissan from the United Breweries Group so as to boost the sale of spread brands such as Flora
Hershey's has launched two new chocolate spreads. The spreads come in chocolate almond and chocolate hazelnut variants. It also launched three products aiming to spread 'Happiness and Goodness'. Hershey’s Spreads are available in two flavor variants, Cocoa and Cocoa with Almond
Market Drivers
- Increasing Consumption Of Chocolate Spreads As A Part Of A Breakfast Meal
- Expenditure Power Among The Consumers In Purchasing These Products For Themselves And Indulging In New Products
Market Trend
- Industry Players Are Offering Consumers Innovative And A Method Of Using Sweet Spreads
- The Asia Pacific Is Offering Are Market Growth Potential
Restraints
- Nutritional Breakdown Through Some Chocolate
- Extra Intake Of Sugar, Fats And Other Items Available In Chocolate Can Cause Damage To The Heart
Opportunities
Premiumisation of Nut and Chocolate-based Spreads
Challenges
Better Substitute Available In The Market and Higher Cost Range Associated With The Product
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Chocolate Spread Study Sheds Light on
The Chocolate Spread Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Chocolate Spread industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Chocolate Spread industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.