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Global food spread market

Global food spread market

Market Insights

The global food spreads market was valued USD 19.43 billion in 2014. Sweet spreads are an integral part of every breakfast and this has led to their steady growth. The rising health consciousness among consumers has given way to new low calorie spreads. The major market players in this industry are Unilever Group, Wellness Foods Ltd., Premier Foods Plc, Ferrero Group, and Andros SAS.

Market Dynamics

The rising demand for healthier and convenient products such as nut based spreads is driving the market. The industry is highly competitive with private label products competing with major brands, in terms of pricing and product innovation. Apart from the well-established brands, there has been a significant rise in the number of country-specific local brands offering similar products at a more competitive price.

The majority of consumers in the developed countries are looking for food spreads without any artificial preservatives or additives, as the continuous use of artificial additives gradually leads to long-term adverse health effects. The market leader in food spreads, J M Smucker has expanded its spread product range with the launch of honey and fruit spread with natural ingredients. However, high calorie in sweet spread such as fruits based spread is a major restraint for the food spread market. There is a high competition among intra food spread products in the food spread market. Nuts allergen among consumers is another restraining factor for the peanut based food spread market.

Segmentation Analysis

The market for food spreads is segmented into honey, chocolate spreads, fruit Based Spreads (Jams and Preserves), nuts and seed based spread, and some other types who have niche market. The honey spread market is expected to record the highest CAGR of 5.68%, as many consumers are using honey as a natural alternative of sugar-based spreads. The fruit-based spreads segment has the largest market, generating a revenue of USD 7,690.14 million in 2016, due to the largest variety of products. This segment is expected to record a CAGR of 3.48%.

Manufacturers of chocolate-based spreads have focused on portability in recent years. Ferrero USA Inc. started this trend with Breadsticks in 2012, and Nutella & Go. with Pretzel Sticks in early 2015. Hershey launched Reese’s Spreads in November 2014, and went portable in 2015 with Reese’s Spreads Snacksters with Graham Dippers.

Regional Analysis

North America holds the largest share of the market (42.32%), followed by Asia-Pacific, which is projected to witness the fastest CAGR of 6.07%. The US spreads market is worth USD 3.1 billion in 2016 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 UK food spreads market witnessed sales increase by 5% in value terms through 2016, while experiencing a smaller growth 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 four years. Around 7.7% of consumers have switched from jam to peanut butter. The UK sweet spread sales account for USD 437.26 million. The food spread market, aided by apt promotion and marketing, has promising scope in the developing markets of Asia- Pacific.

Competitive Environment

JM Smucker Co., Hormel Foods Corp., Ferrero Group, Sioux Honey Association, Kewpie Corp., Land O' Lakes Inc., Unilever Group, Premier Foods PLC, Capilano Honey, and ConAgra Foods Inc., are the major players in the global market. Market expansions, agreements, partnerships, and acquisitions are some of the other approaches followed frequently by these companies in the food spread industry.

JM Smucker Co has introduced the new Smucker's® Fruit & Honey(TM) fruit spreads. Available in four flavors and with no preservatives

Report on the Global Food Spread Market, covers the following:

Market, Trends, and Dynamics
Latest News and Developments
Porter’s Five Forces Analysis
Investment Scope
Deep-dive Insight
Reasons to Purchase this Report

Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
3 months analyst support along with the Market Estimate sheet in excel.
Customization of the Report

Value chain analysis
Volume of the Global Food Spreads Market
Consumer behavior analysis in country level
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.

1. Introduction
1.1 Key Deliverables of the study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.1 Introduction
2.2 Research Design
2.3 Study timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modelling
2.4.4 Expert Validation
3. Market Overview
3.1 Market Dynamics
3.1.1 Drivers Increasing Number of Private Label Brands Clean Label Solutions Innovation in Products
3.1.2 Restraints High calorie and health concern for sweet spread Peanut Butter Allergies
3.1.3 Opportunities
3.1.4 Porter's Five Forces Analysis Bargaining Power of Suppliers Bargaining Power of Buyers Threat of New Entrants Threat of Substitute Products and Services Degree of Competition
4. Market Segmentation
4.1 By Type
4.1.1 Honey
4.1.2 Chocolate based spreads
4.1.3 Fruit based spreads
4.1.4 Nuts & seed based spreads
4.1.5 Others
4.2 By Geography
4.2.1 North America United States Canada Mexico Others
4.2.2 Europe Spain UK France Germany Russia Others
4.2.3 Asia- Pacific China India Japan Australia Others
4.2.4 South America Brazil Argentina Others
4.2.5 Africa South Africa Others
5. Competitive Landscape
5.1 Strategy adopted by Key players
5.2 Most active companies in the past five years
5.3 Market Share Analysis
6. Company Profiles
6.1 J.M. Smucker Company
6.2 Kraft Heinz Co.
6.3 Unilever
6.4 Conagra Foods Inc.
6.5 Sioux Honey Association
6.6 National Grape Co-Operative Association (Welsch)
6.7 B&G Foods
6.8 Ferrero Group
6.9 The Hershey Company
6.10 Nature Food Company
6.11 Freedom Foods Group Ltd
6.12 Hormel Foods LLC
6.13 Nestle
7. Appendix
7.1 Disclaimer
7.2 Sources

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