Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Food Spread Market Size Expected to Grow from USD 29.88 Billion in 2023 to USD 42.04 Billion by 2033, at a CAGR of 3.47% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Food Spread Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Honey, Chocolate-based Spreads, Nut- and Seed-based Spreads, Fruit-based Spreads, and Others), By Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Online Retail Stores, Food Service, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
A food spread is a creamy or paste-like substance that is spread onto different food items to make their taste and texture richer and more appealing. Cheese, butter, jam, jelly, ketchup, mayonnaise, honey, maple syrup, pesto, avocado, and mustard are some of the food's spread ingredients. Food spread has its main application in flavor enhancement, texture improvement, and moisture retention, along with sweetness added. They come in a variety of flavors and textures, including sweet and low-calorie, savory, herbed, spicy, and meat-based. Some of these food spreads are good sources of protein, vitamins, potassium, and unsaturated fats, which help in the control of blood pressure and raise levels of good cholesterol. The major factor propelling the growth of the market is the increasing use of the product as an ingredient across the globe in breakfast. It includes many food spreads like hummus, cheeses, jams, jellies, and nut butter used mostly by toasting or spreading them on an English muffin or pancake, and served as a great breakfast. In addition to this, the popularity of the product as a prestigious gift item to give to family members or friends, hosts, and business partners is helping the market in terms of revenue growth. However, the growing price of raw materials like fruits, sugar, and cocoa is presumed to inhibit the growth of the market. Increasing health awareness regarding the unhealthy effects of sugar and fatty foods often stops people from purchasing them. All this is bound to create a negative effect on the food spread market.
The fruit-based spreads segment is expected to hold the largest share of the global food spread market during the projected timeframe.
Based on product type, the global food spread market is categorized into honey, chocolate-based spreads, nut- and seed-based spreads, fruit-based spreads, and others. Among these, the fruit-based spreads segment is expected to hold the largest share of the global food spread market during the projected timeframe. The growth is attributed to the fruit spreads, out of all the other types of products, which are most used by people in the bakery world for their consumption habits around the world. There are many flavors and textures of this kind, which include jams, jelly, fruit syrups, and fruit pastes. Such as these fruit spreads by Crofter's Organic are applicable in use with about 30 different food items, like toast, muffins, pizza, smoothies, and pancakes. They are low in sugar, yet come in different tastes.
The supermarket and hypermarket segment is anticipated to hold the majority share of the market during the projected timeframe.
Based on the distribution channel, the global food spread market is categorized as hypermarkets and supermarkets, convenience stores, online retail stores, food service, and others. Among these, the supermarket and hypermarket segment is anticipated to hold the majority share of the market during the projected timeframe. The growth is driven by consumers preferring to buy food items from supermarkets because they allow checking the product, and that plays an important role in decision-making. Furthermore, the representatives of the companies at product launches tell the consumer what the product is and how it is different from the others, and they encourage trying new flavors. It has also been seen that consumers want to buy more varieties, which can be found in supermarkets and hypermarkets.
North America is projected to hold the highest share of the global food spread market over the forecast period.
North America is projected to hold the largest share of the global food spread market over the forecast period. The market continues to grow at an accelerating pace due to fast foods, like burgers and sandwiches, dominating the region. Customers in the area also prefer spreads such as mayonnaise, garlic butter, avocado spread, and cheese, among others. Also, there are lots of companies that are selling spreads low in fat and sugar products. Accordingly, consumers prefer these products; this is propelling the market.
Asia Pacific is expected to grow at the fastest CAGR of the global food spread market during the forecast period. One of the most important factors amplifying the growth of the market in the region is the increased preference of consumers for chocolate-based spread, as it is flavourful. Moreover, this tendency is seen in other developing and highly populated countries such as India, China, and Japan, where a definitive trend exists towards adopting Western food culture, hence shaping the regional growth of the market.
Company Profiling
Major vendors in the global food spread market are The Kraft Heinz Company, Unilever PLC, Conagra Brands Inc., Nestlé S.A., Hormel Foods LLC, Ferrero International S.A., Premier Foods Group Services Limited, Sioux Honey Association Co-op, B&G Foods, Inc., Ingenuity Brands, The Hershey Company.
Key Target Audience
Key Market Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global food spread market based on the below-mentioned segments:
Global Food Spread Market, By Product Type
Global Food Spread Market, By Distribution Channel
Global Food Spread Market, By Regional
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