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Sweet Spread Market Overview
Sweet Spread Market size is estimated at $1.2 billion in 2020, projected to grow at a CAGR of 3.3% during the forecast period 2021-2026. Sweet spreads are both natural and man-made foods that are frequently used as toppings on foods such as bread, crackers, and other bakery items. Foods are enhanced with spreads to improve their taste, flavour, texture, and colour like chocolate spreads. They're most commonly found in tinned and bottled form. Nuts, honey, dairy, fruits, yeast, and other ingredients are frequently used to make sweet spreads. The growth of the sweet spread industry can be attributed to the surge in popularity of quick and healthful morning meal replacements among office workers. Rising innovation is increasing market demand for spreads, as well as satisfying shifting customer tastes. Some instances include youngberries and Blenheim apricot jams & jellies. Infusionz honey and Manuka honey have recently been introduced to the market in a variety of fruit-based jams and jellies, would drive up Sweet Spread industry demand.
Report Coverage
The report: “Sweet Spread Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Sweet Spread Market.
By Product Type: Jams, Jelly, Marmalades, Honey, Chocolate Spreads and Others.
By Ingredient Type: Cocoa, Fruits, Sweeteners, Essence and Others.
By Packaging Type: Glass Bottle, Jar, Polypropylene and Others.
By Distribution Channel: E-Commerce, Hypermarket/Supermarket, Convenience Stores and Others.
By Geography: North America (U.S, Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia & New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina and Rest of South America) and RoW (Middle East and Africa).
Key Takeaways
- Sweet Spread Market growth is being driven by consumers desire to eat jellies as their favourite dessert, which is met by manufacturers through a variety of products tailored to the preferences of consumers.
- Geographically, North America Sweet Spread Market held the largest revenue share of 40% in 2020 owing to the growing product consumption. The scope of the Sweet Spread Market for various regions will be provided in the final report.
- The Sweet Spread Industry is expanding owing to adoption of a new lifestyle and the high disposable income of middle-class households, consumers' preferences have moved dramatically towards these products.
- Increasing cases of emergency food quality test failures and rising health problems in younger population hampers the Sweet Spread industry.
Sweet Spread Market: Market Share (%) by Region, 2020
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Sweet Spread Market Segment Analysis – By Product Type:
Based on Product Type, Chocolate Spreads Segment accounted for the largest revenue market share in 2020 owing to private label items competing against well-known global brands. The market for chocolate spreads is witnessing rising demand, particularly from parents concerned that their children aren't getting a regular breakfast that meets their likes and preferences. Chocolate spreads are often made with cocoa and may also include milk, sugar, and other tastes. Nuts or honey are included in some variants. Glass jars or plastic tubs are commonly used to store chocolate spread. Furthermore, the rising income level of the target customers would have a positive effect on product demand thereby, driving the Sweet Spread Industry. Honey segment is anticipated to grow with the fastest CAGR of 4.7% in the forecast period 2021-2026 as the low-calorie spreads have emerged as a result of consumers' growing health consciousness. Rising consumer expenditure on ready-to-eat food items is driving segment growth, owing to benefits such as increased awareness of the need of a healthy breakfast.
Sweet Spread Market Segment Analysis – By Distribution Channel:
Based on Distribution Channel, E-Commerce accounted for the largest revenue market share in 2020 owing towards ease of availability of a wide selection of products in various flavors and uses as in various flavouring ingredient given by all brands at reasonable discounts. The growing number of smartphone and internet users is the primary driver of sector growth. These businesses give cash back and home delivery services, which contribute to the market's growth. Customers frequently purchase sweet spreads with various flavors like chocolate spreads, honey and others from online websites in order to save time due to the increasingly hectic lifestyle. Major corporations, such as Big Basket, are collaborating with internet shops to broaden their customer base. They also create their online portals and websites to promote the growth of the market in order to increase product sales driving the Sweet Spread Industry. Supermarket/Hypermarket is anticipated to grow with the fastest CAGR of 4.1% in the forecast period 2021-2026. Supermarkets are attempting to engage customers and make them a part of the meal preparation process. Many include cooking workshops and recipes, as well as food pairing suggestions and new ways to use traditional items like peanut butter, jams, jellies, and preserves. Such activities set supermarket purchasing apart from that of larger, mass merchandisers, resulting in segment growth.
Sweet Spread Market Segment Analysis – By Geography:
Based on Geography, North America Sweet Spread Market accounted for the 43% revenue share in 2020. Jam, jelly, and preserve producers in North America have been observed employing ripe and semi-ripe fruits, fruit juice, honey, chocolate spreads as well as sugar alternatives to make their goods more colourful and tasty. Forwarding incorporation is being used by manufacturers in this country to increase their involvement in the value chain. A new trend in this sector is expected to be the combination of processes from inbound logistics to after-sales services. This is expected to result in higher-quality and lower-cost finished goods that deliver optimal output and lifetime value. Asia-Pacific is predicted to be the fastest growing region during the forecast period 2021- 2026 owing to higher product intake which propel the Sweet Spread Market.
Sweet Spread Market - Drivers
The Growing Demand for Organic Food Product:
Sweet spreads are becoming increasingly popular around the world, as people seek for components that are both healthy and vegan. Consumer demand for exotic honey and chocolate spreads, fruit content in products, and natural/organic claims are all growing in popularity. Traditional flavours are dominating the market, despite the introduction of sweet spreads with increased health benefits and a variety of taste profiles. Also, the rise in demand for convenience meals can be seen more prominently in developing countries, as per capita food expenditure rises in tandem with per capita income is further aiding to the industry expansion.
Sweet Spread Market - Challenges
High Production Cost:
The Sweet Spread Market's growth is hampered owing to the high production cost of the key ingredients, product safety standards, government regulation of policy and the use of alternative technology. The market's growth is being hampered by a lack of raw materials. Furthermore, the rise in popularity of cereals and the reduction in bread sales are limiting its market expansion. Growing public awareness of the dangers of certain preservation chemicals is also a key hindrance to the market's expansion.
Sweet Spread Market - Landscape:
The Sweet Spread Market's main strategies include product launches, mergers and acquisitions, joint ventures, and regional expansion. Sweet Spread Market top 10 companies are ConAgra Foods Inc., Duerr& Sons, Pioneer Foods, Uniliver Group, Dr. Oetker, HERSHEY’S, Nestle, Glanbia Consumer Foods, Kraft Foods, Ferrero Group.
Acquisitions/Product Launches:
- In August 2020, Foodarom, a custom taste creator located in Canada, was acquired by Glanbia Consumer Foods for $45 million. By acquiring it, Glanbia is better aligning itself with market demand for flavour solutions.
- In June, 2020, Kerry expands its nutritional food range owing to increasing demand of vegan, organic and allergen-free products. This expansion helps to increase the development in food and beverage sector and thus expanding the market growth.
Related Reports-
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1. Sweet Spread Market - Overview
1.1 Definitions and Scope
2. Sweet Spread Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends
2.2 Key trends by Product Type
2.3 Key trends by Distribution Channel
2.4 Key trends by Geography
3. Sweet Spread Market - Comparative Analysis
3.1 Product Benchmarking – Key Companies
3.2 Financial Analysis– Key Companies
3.3 Market Share Analysis
3.4 Patent Analysis
3.5 Pricing Analysis- Average Price
4. Sweet Spread Market - Startup Companies Scenario Premium
4.1 Key Startup Company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Venture Capital and Funding Scenario
5. Sweet Spread Market – Industry Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing Business Index
5.3 Case Studies of Successful Ventures
6. Sweet Spread Market - Forces
6.1 Market Drivers
6.2 Market Constraints/Challenges
6.3 Porters Five Force Model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Sweet Spread Market – Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Market Life Cycle
8. Sweet Spread Market – By Product Type (Market Size –$Million/$Billion)
8.1 Jams
8.2 Jelly
8.3 Marmalades
8.4 Honey
8.5 Chocolate Spreads
8.6 Others
9. Sweet Spread Market – By Ingredient Type (Market Size –$Million/$Billion)
9.1 Cocoa
9.2 Fruits
9.3 Sweeteners
9.4 Essence
9.5 Others
10. Sweet Spread Market – By Packaging Type(Market Size –$Million/$Billion)
10.1 Glass Bottle
10.2 Jar
10.3 Polypropylene
10.4 Others
11. Sweet Spread Market – By Distribution Channel (Market Size –$Million/$Billion)
11.1 E-Commerce
11.2 Hypermarket/Supermarket
11.3 Convenience Stores
11.4 Others
12. Sweet Spread Market - By Geography (Market Size –$Million/$Billion)
12.1 North America
12.1.1 U.S.
12.1.2 Canada
12.1.3 Mexico
12.2 Europe
12.2.1 U.K.
12.2.2 Germany
12.2.3 France
12.2.4 Italy
12.2.5 Spain
12.2.6 Russia
12.2.7 Rest of Europe
12.3 Asia-Pacific
12.3.1 China
12.3.2 India
12.3.3 Japan
12.3.4 South Korea
12.3.5 Australia & New Zealand
12.3.6 Rest of Asia-Pacific
12.4 South America
12.4.1 Brazil
12.4.2 Argentina
12.4.3 Rest of South America
12.5 Rest of the World
12.5.1 Middle East
12.5.2 Africa
13. Sweet Spread Market - Entropy
14. Sweet Spread Market – Industry/Segment Competition Landscape Premium
14.1 Market Share Analysis
14.1.1 Global Market Share – Key Companies
14.1.2 Market Share by Region – Key companies
14.1.3 Market Share by Countries – Key Companies
14.1.4 Competition Matrix
14.1.5 Best Practices for Companies
15. Sweet Spread Market – Key Company List by Country Premium Premium
16. Sweet Spread Market Company Analysis
16.1 Company 1
16.2 Company 2
16.3 Company 3
16.4 Company 4
16.5 Company 5
16.6 Company 6
16.7 Company 7
16.8 Company 8
16.9 Company 9
16.10 Company 10
"*Financials for private companies would be provided on a best efforts basis”.
LIST OF TABLES
1.Global MARKET SEGMENTATION Market 2019-2024 ($M)1.1 By Type Market 2019-2024 ($M) - Global Industry Research
1.1.1 Chocolate Spreads Market 2019-2024 ($M)
1.1.2 Honey Market 2019-2024 ($M)
1.1.3 Jam Market 2019-2024 ($M)
1.1.4 Nut Butter/Spread Market 2019-2024 ($M)
1.2 By Distribution Channel Market 2019-2024 ($M) - Global Industry Research
1.2.1 Specialist Retail Store Market 2019-2024 ($M)
1.2.2 Hypermarket/Supermarket Market 2019-2024 ($M)
1.2.3 Online Channel Market 2019-2024 ($M)
2.Global COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
2.1 Most Active Companies Market 2019-2024 ($M) - Global Industry Research
3.Global MARKET SEGMENTATION Market 2019-2024 (Volume/Units)
3.1 By Type Market 2019-2024 (Volume/Units) - Global Industry Research
3.1.1 Chocolate Spreads Market 2019-2024 (Volume/Units)
3.1.2 Honey Market 2019-2024 (Volume/Units)
3.1.3 Jam Market 2019-2024 (Volume/Units)
3.1.4 Nut Butter/Spread Market 2019-2024 (Volume/Units)
3.2 By Distribution Channel Market 2019-2024 (Volume/Units) - Global Industry Research
3.2.1 Specialist Retail Store Market 2019-2024 (Volume/Units)
3.2.2 Hypermarket/Supermarket Market 2019-2024 (Volume/Units)
3.2.3 Online Channel Market 2019-2024 (Volume/Units)
4.Global COMPETITIVE LANDSCAPE Market 2019-2024 (Volume/Units)
4.1 Most Active Companies Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America MARKET SEGMENTATION Market 2019-2024 ($M)
5.1 By Type Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Chocolate Spreads Market 2019-2024 ($M)
5.1.2 Honey Market 2019-2024 ($M)
5.1.3 Jam Market 2019-2024 ($M)
5.1.4 Nut Butter/Spread Market 2019-2024 ($M)
5.2 By Distribution Channel Market 2019-2024 ($M) - Regional Industry Research
5.2.1 Specialist Retail Store Market 2019-2024 ($M)
5.2.2 Hypermarket/Supermarket Market 2019-2024 ($M)
5.2.3 Online Channel Market 2019-2024 ($M)
6.North America COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
6.1 Most Active Companies Market 2019-2024 ($M) - Regional Industry Research
7.South America MARKET SEGMENTATION Market 2019-2024 ($M)
7.1 By Type Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Chocolate Spreads Market 2019-2024 ($M)
7.1.2 Honey Market 2019-2024 ($M)
7.1.3 Jam Market 2019-2024 ($M)
7.1.4 Nut Butter/Spread Market 2019-2024 ($M)
7.2 By Distribution Channel Market 2019-2024 ($M) - Regional Industry Research
7.2.1 Specialist Retail Store Market 2019-2024 ($M)
7.2.2 Hypermarket/Supermarket Market 2019-2024 ($M)
7.2.3 Online Channel Market 2019-2024 ($M)
8.South America COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
8.1 Most Active Companies Market 2019-2024 ($M) - Regional Industry Research
9.Europe MARKET SEGMENTATION Market 2019-2024 ($M)
9.1 By Type Market 2019-2024 ($M) - Regional Industry Research
9.1.1 Chocolate Spreads Market 2019-2024 ($M)
9.1.2 Honey Market 2019-2024 ($M)
9.1.3 Jam Market 2019-2024 ($M)
9.1.4 Nut Butter/Spread Market 2019-2024 ($M)
9.2 By Distribution Channel Market 2019-2024 ($M) - Regional Industry Research
9.2.1 Specialist Retail Store Market 2019-2024 ($M)
9.2.2 Hypermarket/Supermarket Market 2019-2024 ($M)
9.2.3 Online Channel Market 2019-2024 ($M)
10.Europe COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
10.1 Most Active Companies Market 2019-2024 ($M) - Regional Industry Research
11.APAC MARKET SEGMENTATION Market 2019-2024 ($M)
11.1 By Type Market 2019-2024 ($M) - Regional Industry Research
11.1.1 Chocolate Spreads Market 2019-2024 ($M)
11.1.2 Honey Market 2019-2024 ($M)
11.1.3 Jam Market 2019-2024 ($M)
11.1.4 Nut Butter/Spread Market 2019-2024 ($M)
11.2 By Distribution Channel Market 2019-2024 ($M) - Regional Industry Research
11.2.1 Specialist Retail Store Market 2019-2024 ($M)
11.2.2 Hypermarket/Supermarket Market 2019-2024 ($M)
11.2.3 Online Channel Market 2019-2024 ($M)
12.APAC COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
12.1 Most Active Companies Market 2019-2024 ($M) - Regional Industry Research
13.MENA MARKET SEGMENTATION Market 2019-2024 ($M)
13.1 By Type Market 2019-2024 ($M) - Regional Industry Research
13.1.1 Chocolate Spreads Market 2019-2024 ($M)
13.1.2 Honey Market 2019-2024 ($M)
13.1.3 Jam Market 2019-2024 ($M)
13.1.4 Nut Butter/Spread Market 2019-2024 ($M)
13.2 By Distribution Channel Market 2019-2024 ($M) - Regional Industry Research
13.2.1 Specialist Retail Store Market 2019-2024 ($M)
13.2.2 Hypermarket/Supermarket Market 2019-2024 ($M)
13.2.3 Online Channel Market 2019-2024 ($M)
14.MENA COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
14.1 Most Active Companies Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Sweet Spread Market Revenue, 2019-2024 ($M)2.Canada Sweet Spread Market Revenue, 2019-2024 ($M)
3.Mexico Sweet Spread Market Revenue, 2019-2024 ($M)
4.Brazil Sweet Spread Market Revenue, 2019-2024 ($M)
5.Argentina Sweet Spread Market Revenue, 2019-2024 ($M)
6.Peru Sweet Spread Market Revenue, 2019-2024 ($M)
7.Colombia Sweet Spread Market Revenue, 2019-2024 ($M)
8.Chile Sweet Spread Market Revenue, 2019-2024 ($M)
9.Rest of South America Sweet Spread Market Revenue, 2019-2024 ($M)
10.UK Sweet Spread Market Revenue, 2019-2024 ($M)
11.Germany Sweet Spread Market Revenue, 2019-2024 ($M)
12.France Sweet Spread Market Revenue, 2019-2024 ($M)
13.Italy Sweet Spread Market Revenue, 2019-2024 ($M)
14.Spain Sweet Spread Market Revenue, 2019-2024 ($M)
15.Rest of Europe Sweet Spread Market Revenue, 2019-2024 ($M)
16.China Sweet Spread Market Revenue, 2019-2024 ($M)
17.India Sweet Spread Market Revenue, 2019-2024 ($M)
18.Japan Sweet Spread Market Revenue, 2019-2024 ($M)
19.South Korea Sweet Spread Market Revenue, 2019-2024 ($M)
20.South Africa Sweet Spread Market Revenue, 2019-2024 ($M)
21.North America Sweet Spread By Application
22.South America Sweet Spread By Application
23.Europe Sweet Spread By Application
24.APAC Sweet Spread By Application
25.MENA Sweet Spread By Application