Global Spreads Market is valued approximately at USD 29.23 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 3.1% over the forecast period 2021-2027. Spreads contains fats, healthy vegetable butter and oil. These are popular among the youth to be used in the food products such as breads, crackers and others for enhancing taste, texture & flavor. The global Spreads market is driven by growing demand for convenience food products such as processed food, instant food among others. According to Statista, Convenience Food market size is projected to reach USD 585 billion by 2025 from USD 433 billion in 2019. Another important driving factor is the growing number of product launches with new unique flavors. For instance, in April 2021, DouxMatok, launched Incredo Sugar solution, chocolate spreads with 50% less total added sugars and rich in nutritional fibers. Also, in September 2021, Chobani with Edesia Nutrition launched peanut butter flavored nutrient spreads. Furthermore, expanding food & beverages industry, increasing demand for healthy food products and increasing consumer preferences for artisan bakery products creates new opportunities for the global Spreads industry. However, presence of affordable substitutes may impede market growth over the forecast period of 2021-2027.
The regional analysis is based on the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World for the global Spreads Market. Europe is the leading region across the world in terms of market share due to the growing demand for bakery & confectionery products and rise in consumption of fast foods. Whereas Asia Pacific is anticipated to exhibit the highest CAGR over the forecast period 2021-2027 owing to expansion of chocolate industry, large consumer base, and introduction of new products in the region.
Major market player included in this report are:
The Hershey Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Chocolates & Nuts
By Distribution Channel:
Hypermarket & Supermarket
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Spreads Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers