Global Sweet and Savoury Spread Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Sweet and Savory Spread Market: Overview
"The Sweet and Savory Spread Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Sweet and savory spreads are natural and man-made food substances that are used in foodstuffs as toppings, especially on bread and crackers. Spreads are added to food to enhance taste, flavor, texture, as well as color and are mostly available in canned and bottled packages. The sweet and savory spreads include honey, jams, chocolate spreads, Bovril, marmalade, and other products.
Growing adoption of fruit-based products, and easy availability of different flavored spreads in retail stores or through e-commerce websites in developing as well as developed countries are some major factors expected to drive the growth of the sweet and savory market over the forecast period.
In addition, changing lifestyle and breakfast patterns along with growing demand for processed & packaged food products are other factors expected to fuel the growth of the target market. Moreover, increasing purchasing power along with increasing adoption of organic and honey-based spreads are expected to support the growth of the sweet and savory spreads market over the forecast period.
Whereas, the growing popularity of cereals and volatile prices of raw materials such as sugar, cocoa, and fruits are some major factors that may hamper the growth of the target market to a significant extent.
Moreover, manufacturers are focusing on new ingredients and flavors is expected to fuel the growth of the sweet and savory spread market globally. For instance, a UK-based Unilever company has converted its prevailing butter spread portfolio into real, simple, and delicious ingredients such as plant-based oil, salt, water, and without any artificial additives. In addition, spread manufacturing companies are focusing to deliver both taste and health requirements, after the popularity of jelly and jam. Which peanut spread, chocolate, and almond spread flavors are expected to gain popularity all across the globe.
Global Sweet and Savory Spread Market: Segment Analysis
Among the type segments, the honey segment is projected to register a major revenue share in the global sweet and savory spread market over the forecast period.
Among the distribution channel segments, the non-store-based segment is expected to hold a significant revenue share in the target market over the forecast period.
Global Sweet and Savory Spread Market: Regional Analysis
Sweet and savory spread market in Asia Pacific is estimated to witness significant growth, owing to rising demand for food spread products with natural ingredients among consumers. In addition, increasing consumption of bakery and snack items and growing organized retail stores are expected to drive growth of the target market in the Asia Pacific.
The market in North America is expected to register substantial growth, owing to increasing investment in R&D activities related to food and beverages and the strong presence of food processing companies.
Markets in Europe, Latin America, and Middle East and Africa are projected to register moderate growth over the forecast period.
Global Sweet and Savory Spread Market Segmentation:
Segmentation by Type:
- Jam and preserves
- Nut and seed-based spreads
- Chocolate spread
- Yeast-based spreads
Segmentation by Distribution Channel:
- Non-store based
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- The Kraft Heinz Company
- The J.M. Smucker Company
- Conagra Brands, Inc.
- Ferrero Group
- Premier Foods Plc,
- Wellness Foods Ltd.
- Nature food Chocolatier
- ConAgra Foods Inc.
- National Grape Co-operative Inc.
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