Global Fruit Spreads Market- Growth, Trends, and Forecasts (2018 - 2023)
Fruits spreads are made from the processing of fruit juices, and whole fruit, along with/or concentrated form of fruit juice with sugar and pectin. Fruit concentration in spreads can vary from 30% to 60%; spreads are used in baked salad products, dressings, snacks, dessert glaze, breakfast syrups, cake icing, smoothies, etc. The global fruit spreads market was valued at USD 6.83 billion in 2016 and is expected to register a CAGR of 3.5% during 2018-2023 (forecast period).
Innovative Healthy Spreads are the Driving Force
The nutritional value of fruit spreads and innovations in flavor are expected to boost the growth of the fruit spreads market. Currently, consumers are switching to sugar-free fruit spreads. The number of private-label brands for fruit spreads has been increasing due to a surge in the organized retailing. Much of this growth can be attributed to the consolidation and expansion of the retail food industry. Several retailers are entering this market by extending their investments in perishable food products, lured by the growing popularity of fruit spreads for “at-home” consumption.
As convenience food products, fruit spreads are natural accompaniments of breakfast. Manufacturers are preparing fruit spreads that can be used in baking and as snacks. They are introducing new flavors, while also considering the nutritive value and are focusing on renovating traditional fruit flavors. Owing to the growing demand for better-for-you products that are easy to prepare, as well as tasty, the vendors are making healthier and in gent offerings. Retailers in the market are also investing in private-label spreads, as consumers are opting for affordable, high-quality products.
Fruit spreads are available in different textures and flavors. The fruit preserves (or jams) fruit or fruit particles shall be dispersed uniformly throughout the product. The product shall have a tender gel or may have a very slight tendency to flow. They are segmented by type into jams, jellies, butter, conserves, preserve and marmalades. Butter is a type of fruit spread that is made from sugar cooked fruit puree and is thick. Conserves are fruit spreads that consist of a mixture of fruits, along with nuts and sugar. Jams are prepared from chopped or crushed fruits, along with sugar and pectin to soften the fruit. Jams account for a major share in the US fruit spreads market, regarding consumption. The other types of fruit spreads include jellies, marmalades, and preserves, which differ in consistency. Fruit spreads that limit added sugars are becoming especially popular. The most promising trend we are seeing is sugar-free jam sweetened with xylitol. The most popular distribution channels of fruit spreads are the supermarkets and hypermarkets, owing to the growth of organized retail. Factors, such as increasing urbanization and easy convenience of the supermarket and hypermarket retail formats will lead to further sales of fruits spreads through these retail chains.
Europe accounted for a major share in the global fruit spread market, in 2016, owing to the increasing demand for fruit spreads made from super-fruits and adoption of different varieties and flavors of fruit spreads. France, Germany, and the Netherlands account for almost 50% of the total imports in Europe. North America also accounts for a significant share in the fruit spreads market, owing to the mature food processing industry in the region. The APEJ (Asia-Pacific Excluding Japan) market is anticipated to register a high CAGR over the forecast period, due to the increase in demand for sugar-free and healthy fruit spreads.Major PLAYERS: THE J.M. SMUCKER COMPANY, CASCADIAN FARM, POLANER, RIGONI DI ASIAGO USA, SANTA CRUZ NATURAL INCORPORATED, REALLY GOOD, SMALL PLANET FOODS, INC., CROFTERS FOOD LTD., CLEARSPRING LTD., WALDEN FARMS, INC., BIONATURAE, LLC, MERIDIAN FOODS and ORKLA GROUP, amongst others.
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