The global food spreads market is worth 15.6 billion USD. Food spreads are eatables that are used in modest quantities with main food to add flavor and texture. They are different from dips that are used in minimal amount with food like salsa dip.
Traditionally sweet spreads are an integral part American and European culture; they are part of every breakfast and evening snacking. Majority of consumers are of young age group. Savory spreads also allow for quick snacking usually preferred by elder consumers.
Lack of time owing to urban lifestyle calls for easy and convenient food solutions. Sales of food spreads depend heavily on breads. Spreads with health benefits, fortified with vitamins and minerals, added fruit are in demand. The rising health consciousness among consumers has given way to new low calorie spreads. The shift can be attributed to various factors such as the busy lifestyles and increasing reliance on food additions as primary nutrient source, the rising health awareness campaigns with strong governmental backing, and the increasing prominence of child diet and wellness. Considering the high volume consumption of food spreads in everyday meals, the importance of this trend is magnified. The trend is localized around the ingredients used, calorie and fat content, nutrient information, and taste or flavor.
Chocolate spread is the second most popular choice for spreads with its sales rising by 27% in the last 4 years. The chocolates spread market is worth more than 320 Million USD. With increasing economic pressure, people are looking to cook at home and spreads are an extremely viable option. Peanut butter and chocolate spreads are displacing jam and marmalade as the most popular breakfast spreads.
The UK food spreads market witnessed sales increase by 5% in value terms through 2012, while experiencing a smaller increase in volume terms of 2%.The sales for peanut butter in UK have increased by 25% while jam sales have remained stagnant in the last 4 years. Around 7.7% of consumers have switched from jam to peanut butter. The UK sweet spread sales account to $XX Million. The US spreads market is worth 3.1 billion USD in 2014 and is expected to witness a relatively stable growth despite the economic recession .Food spreads comprise of a variety of products like jams, jellies, fruit and nut based spreads, honey, syrup and chocolate based spreads. The USA is a huge consumer of the sweet based spreads and Asia, by virtue of its sheer population is also a huge consumer.
Product innovation is the key driving factor for new brands which are providing a stiff competition to the already established ones in the spreads market.The major market players in this industry are Unilever Group, Wellness Foods Ltd., Premier Foods Plc, Ferrero Group, and Andros SAS.
Key Deliverables in the Study
- Market analysis for the Report title global food spread market, with region specific assessments and competition analysis on global and regional scales.
- Market definition along with the identification of key drivers and restraints.
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their market shares.
- Identification and analysis of the macro and micro factors that affect the Report title global food spread market on both global and regional scales.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
- A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
- Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.