About Food Spread
A Food Spread is an additive on food dishes, which helps in enhancing the taste, texture or the flavor of the food. There are different types of food spreads which are widely used such as jams, jellies, fruit, and nut-based spreads, honey, syrups, and chocolate-based spreads. The United States is one of the largest consumers of sweet spreads as they prefer the traditional breakfast. The wide range of public that is interested in eating food spreads in breakfast is driving the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 3.42% |
The market is highly competitive with the presence of many large international as well as local players in Europe. To sustain themselves in the market, these manufacturers are coming up with innovative multifunctional products to meet the changing requirements of customers. Several new players are also expected to enter this market in the coming years because of low switching costs for buyers and low brand loyalty. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Food Spread market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
J.M. Smucker (United States), Kraft Foods (United States), Unilever (United Kingdom), Conagra Brands (United States), Sioux Honey (United States), National Grape Co-Operative (United States), B & G Foods (United States), Ferrero (Italy) and Hershey (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Freedom Foods (Australia) and Nestle (Switzerland).
Segmentation Overview
AMA Research has segmented the market of Global Food Spread market by Type (Honey, Nut and seed-based spreads, Fruit-based spreads and Chocolate based spreads), Application (Home use and Restaurant) and Region.
On the basis of geography, the market of Food Spread has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Supermarkets/Hypermarkets will boost the Food Spread market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Low-Calorie Spreads and Rising Launch of New Innovative Flavors, Such As Figs, Ginger, and Exotic Fruits
Market Growth Drivers:
High Demand for Food Spreads From North America and Rising Demand in Food & Beverage Industries
Challenges:
Availability of Different Substitutes Present in Market Such as Cereals and Issue Related to the Counterfeit Products
Restraints:
Consumer Shift from Traditional Meal-To-Snack Foods and High Cost of Raw Materials Such As Cocoa, Sugar, and Fruits
Opportunities:
Growing Acceptance of English Breakfast that Includes Sweet Spreads World Widely and Increasing Disposable Income Has also Resulted in Consumer’s Preferences for These Products
Market Leaders and their expansionary development strategies
In February 2024, Cargill and ENOUGH expand partnership to provide consumers with innovative, sustainable protein options. Cargill is an ideal partner to help ENOUGH achieve its aim to grow over one million tons of ABUNDA cumulatively by 2033. The company’s expertise as a food solutions leader and role at the heart of the food supply chain enables it to scale up new technologies in the alternative protein space as ENOUGH builds additional capacity.
In October 2023, iD Fresh Food has launched a new product called Twist and Spread Butterstick, designed to simplify the process of spreading butter, making it cleaner and more convenient for storage. The new product is a labour of love, and I am waiting to see how our consumers respond to it,” said PC Musthafa, CEO and co-founder of iD Fresh Food.
Key Target Audience
Food Spread Manufactures, Food Spread Distributors, Potential Investors, Up and Down Stream Vendors, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.