Spreadable Fats Market Overview
Spreadable Fats Market size is projected to reach $1020.3 million by 2026, growing at a CAGR of 5.1% over 2021-2026. Spreadable fats are solid fats that contains at least 10% fat and remains solid at a temperature of 20°C. Spreadable fats are extracted from solid or liquid vegetable fats or animal fats that include about 3% milk fat. Spreadable fats are consumed by humans that contains about 10-80% fat which is healthy for their health. Spreadable fats are categorized into three groups that include milk fats, fats, and mixed fats that are sourced from plants and animals. Spreadable fats contains emulsion stability that improves the spreadability of various spreads which include peanut butter and many more. Margarine is a kind of spreadable fat that is made from plant oils and contains less cholesterol and are mostly consumed. Soy Food such as spreadable soy milk, soy oil, soy milk etc are consumed more owing to its healthy benefits. Hydrocolloids contains sophisticated rheological properties which tastes like a fat that increases the importance in spread technology. Currently, the regulation that cover the labelling of spreadable fats includes new generic nutrition that contains no saturated fats. Rising consumption of butter in variety of dishes among consumers and growing consciousness about health is the major factor driving the growth of Spreadable Fats Market. Furthermore, changing lifestyle of consumers and rising development and research in food and beverage industry is set to further enhance the overall market demand for Spreadable Fats Market for the period 2021-2026.
The report: “Spreadable Fats Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Spreadable Fats Market.
By Type: Butter, Cheese,
Cream, Plant Derived Spreads, and Others.
By Source: Plant, and Animal.
By Distribution Channel: Supermarkets&Hypermarkets, Convenience Stores, Online Stores, and Others.
By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa).
- In 2020, North America dominated the Spreadable Fats Market owing to rising consumption of outside food that includes cheese, butter and many more. Moreover, growing advanced procedure in manufacturing of spreadable fats among manufacturers rising the demand of spreadable fats among consumers which in turn boosting the growth of Spreadable Fats Market.
- Rising consumption of butter in variety of dishes among consumers and growing consciousness about health are enhancing the growth of the Spreadable Fats Market.
- The prominent manufacturers operating in the market will be provided detailed analysis of Strength, Weakness, and Opportunities in the Spreadable Fats Market report.
- Rising Issues in health owing to excessive consumption of
spreadable fats is set to create hurdles for the Spreadable Fats Market.
Spreadable Fats Market Size, By Distribution Channel 2020-2026 (USD Million)
Spreadable Fats Market Segment Analysis – By Type
The Spreadable Fats Market based on Type can be further distributed into Butter, Cheese, Cream, Plant Derived Spreads, and Others. The Butter segment is the major segment generating revenue in 2020. This is mainly owing to the fact that butter is considered as low carbohydrate diet that are healthy for consuming and also contains calcium which provides strength in bone that rising the consumption of butter among consumers. Moreover, butter is used in variety of dishes that provides delicious taste which rising the adoption of butter among people and thus propelling the market growth. The Cheese segment is estimated to register the fastest CAGR of 5.5% for the period 2021-2026. This is mainly owing to rising adoption of cheese in variety of fast food dishes that rising the need of cheese. Moreover cheese enhances the taste and provides delicious texture in food which rising the trends of adopting cheese among consumers and further propelling the growth of Spreadable Fats Market.
Spreadable Fats Market Segment Analysis – By Distribution Channel
The Spreadable Fats Market based on Distribution Channel can be further segmented into Supermarkets&Hypermarkets, Convenience Stores, Online Stores, and Others. The Supermarkets&Hypermarkets segment registers for the highest Spreadable Fats Market share in 2020. This is mainly owing to its availability of wider range of products and various kind of spreadable fats products are available in same place which provides easy shopping for consumers. Moreover, separate section of spreadable fats products in supermarkets and hypermarkets creates no confusion among consumers that rising the preference among consumers for grocery shopping. The Online Stores segment is forecasted to register the fastest CAGR of 6.1% over 2021-2026. This is mainly owing to rising demand of cheese, butter in various dishes increasing the need of spreadable fats that rising the orders through online as it provides quick delivery without travelling anywhere which in turn propelling the growth of Spreadable Fats Market.
Spreadable Fats Market Segment Analysis – By Geography
North America dominated the Spreadable Fats Market with major share of 45% in 2020. This is owing to the rising consumption of outside food that includes cheese, butter and many more. Moreover, growing advanced procedure in manufacturing of spreadable fats among manufacturers rising the demand of spreadable fats among consumers which in turn is boosting the growth of Spreadable Fats Market. In 2020, According to U.S. Department of Agriculture, butter production increases by 6% that rising the sales of butter which in turn enhancing the growth of Spreadable Fats Market.
However, Asia Pacific is projected to be the growing market during the forecast period 2021-2026 owing to growing adoption of fast food that contains lot of spreadable fats such as cheese, butter etc. which is rising the growth of Spreadable Fats Market. In China and India, butter are used in almost every dishes which rising the production among manufacturers that are further enhancing the market growth.
Spreadable Fats Market Drivers
Rising Consumption of Butter in Variety of Dishes
The consumption of butter increases owing to its delicious taste and low carbohydrate that rising the consumption among health consciousness people which rising the demand of spreadable fats market. According to United State Department of Agriculture, the U.S. production of butter is about 170 million pounds in 2020 that rising the demand of butter among consumers and therefore rising the growth of the Spreadable Fats Market over the period 2021-2026.
Growing Consciousness About Health
Rising consciousness about health is increasing the adoption of butter as it is helpful to use butter in diet which is rising the need of spreadable fats. Moreover, rising innovation of products that contains less carbohydrates fats increasing the adoption of spreadable fats which in turn boosting the growth of Spreadable Fats Market over the period 2021-2026.
COVID-19 pandemic had greatly impacted the growth of Spreadable Fats Market. During pandemic, there is a lockdown that shut down the grocery stores which creates a huge loss as the production of spreadable fats decreases which creates disruption in the production and supply chain which are negatively impacted the growth of Spreadable Fats Market.
Spreadable Fats Market Challenges
Rising Issue in Health
The factors that is set to impede the growth
of the Spreadable Fats Market
are rising issue in health owing to excessive
consumption of spreadable fats which is set
to restrain the growth of Spreadable Fats Market.
Spreadable Fats Landscape
Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Spreadable Fats Market. Spreadable Fats top 10 companies are Fonterra Co-operative Group, Danish Dairy Board, Dairy Crest, Ornua, Violife, Bunge Limited, United Plantations Berhad, CHS Inc., Mother Dairy, Wilmar International Limited, and Associated British Foods plc.
- In 2019, Violife launched
butter which is 100% vegan that rising the adoption of butter among consumers
which in turn driving the growth of Spreadable Fats Market.
For more Food and Beverage Market reports, please click here