Sweet Spreads Market - Forecast(2024 - 2030)

Report Code: FBR 0320 Report Format: PDF + Excel

Sweet Spreads Market Overview

Sweet Spread Market size is estimated at $1.7 billion in 2026, projected to grow at a CAGR of 3.7% 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. Recipes are made tasty with spreads to improve their taste, flavor, texture, and color like chocolate spreads, beer jam, hazelnut butter, maple butter, and mint sauce, among others. 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 market can be attributed to the surge in popularity of quick and nutritive 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, which is further set to enhance the growth of the market in the forecast period 2021-2026.

Report Coverage

The report: Sweet Spreads Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Sweet Spreads 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, Others
By Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (Middle East, and Africa)

Key Takeaways

  • North America dominated the Sweet Spreads Market in 2020 owing to the growing product consumption. The Sweet Spreads Market scope for different regions will be provided in the final report.
  • Consumers desire to eat jellies as their favorite dessert, which is met by manufacturers through a variety of products tailored to the preferences of consumers coupled with the adoption of a new lifestyle and the high disposable income of middle-class households, consumers' preferences are likely to aid the market growth of the Sweet Spreads Market report.
  • Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Sweet Spreads Market report.
  • Increasing cases of emergency food quality test failures and rising health problems in younger population is poised to create hurdles for the Sweet Spreads Market.

Sweet Spreads Market Revenue Share, By Geography, 2020(%)

Sweet Spreads Market

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Sweet Spreads Market Segment Analysis – By Product Type

The chocolate spreads segment held the largest share in the Sweet Spreads Market in 2020 and is estimated to grow at a CAGR 3.3% during the forecast period 2021-2026. This is owing to the growing demand, particularly from parents concerned that their children aren't getting a regular breakfast that meets their likes and preferences. Chocolate spreads are usually made with cocoa with constituents like 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 also gaining traction as the low-calorie spreads have emerged as a result of consumers' growing health consciousness. Honey segment is estimated to register the higher CAGR over the period 2021-2026.

Sweet Spreads Market Segment Analysis – By Distribution Channel

E-Commerce segment held the largest share in the Sweet Spreads Market in 2020 and is estimated to grow at a CAGR 3.6% during the forecast period 2021-2026. This is primarily because of the ease of availability of a wide selection of products of different flavors and uses in various flavoring 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 make online portals and websites to enhance the growth of the market in order to increase product sales-driving the Sweet Spread Industry. Supermarkets/Hypermarkets is also gaining traction because they 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. Supermarkets/Hypermarkets segment is estimated to register the higher CAGR over the period 2021-2026.

Sweet Spreads Market Segment Analysis – By Geography

North America dominated the Sweet Spreads Market with a major share of 36.4% in 2020. This is attributed to the fact that 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 colorful 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.

However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 attributable to the rising disposable income of majority of the households throughout the region coupled with the more number of aware parents who are concerned about their children getting regular breakfast as per their taste and preferences.

Sweet Spreads Market Drivers

Growing demand of organic food products due to its health benefits is driving the market growth

Sweet spreads are becoming increasingly popular around the world, as people seek 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. According to a survey conducted by Centers for Disease Control and Prevention in 2020 in the U.S., among 2- to 5-year-olds, the average intake was 13 teaspoons for non-Hispanic Black children, 12 teaspoons for non-Hispanic White children, 11 teaspoons for Hispanic children, and 7 teaspoons for non-Hispanic Asian children. 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. Thus, increasing the growth of the Sweet Spreads Market during the forecast period 2021-2026. 

Altering consumer preferences due to rising disposable income is poised to increase the growth of the market

Over the recent past, there has been a considerable rise in the disposable income of most of the households across major economies which has resulted in the inclination of consumer preferences towards healthy and tasteful eating. In September 2020, the U.S. Census Bureau revealed that median household income in 2019 increased 6.8% from 2018, and the official poverty rate decreased 1.3% points. This is drawing an inclination towards high quality of living, especially among parents who are concerned regarding healthy meal options for their children. Thus, increasing the growth of the Sweet Spreads Market during the forecast period 2021-2026.

Sweet Spreads Market Challenges

High Production Cost of Sweet Spreads is likely to challenge the market growth

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. According to U.S. Bureau of Labor Statistics, the consumer price index increased to 5.15% in April 2020 as compared to 2.05% in April 2019. Growing public awareness of the dangers of certain preservation chemicals is also a key hindrance to the market's expansion.

Sweet Spreads Market Landscape

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Sweet Spreads Market. In 2020, the Sweet Spreads Market share is fragmented by the top ten players present in the market. The Sweet Spreads Market, top 10 companies are:

  1. ConAgra Foods Inc.
  2. Duerr& Sons
  3. Pioneer Foods
  4. Uniliver Group
  5. Dr. Oetker
  6. Hershey’s
  7. Nestle
  8. Glanbia Consumer Foods
  9. Kraft Foods
  10. Ferrero Group 

Sweet Spreads Market Developments:

  • 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. 

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1. Sweet Spreads Market- Overview
    1.1 Definitions and Scope
2. Sweet Spreads Market- Executive Summary
    2.1 Market Revenue and Key Trends by Company
    2.2 Key trends by Product Type
    2.3 Key trends by Ingredient Type
    2.4 Key trends by Packaging Type
    2.5 Key trends by Distribution Channel
3. Sweet Spreads Market– Comparative Analysis
    3.1 Product Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Market Value Split by Key Companies
    3.4 Patent Analysis – Key Companies
    3.5 Pricing Analysis
4. Sweet Spreads 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 Spreads 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 Spreads 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 Spreads Market– Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Sweet Spreads 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 Spreads 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 Spreads Market– By Packaging Type(Market Size –$Million/$Billion)
    10.1 Glass bottle
    10.2 Jar
    10.3 Polypropylene
    10.4 Others
11. Sweet Spreads Market– By Distribution Channel(Market Size –$Million/$Billion)
    11.1 E-Commerce
    11.2 Hypermarkets/Supermarkets
    11.3 Convenience Stores
12. Sweet Spreads Market- By Geography(Market Size –$Million/$Billion)
    12.1 North America
        12.1.1 U.S.
        12.1.2 Mexico
        12.1.3 Canada
    12.2 Europe
        12.2.1 U.K.
        12.2.2 France
        12.2.3 Germany
        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 Spreads Market- Entropy
14. Sweet Spreads 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 Spreads Market– Key Company List by Country Premium Premium
16. Sweet Spreads 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
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