Global Sweet Spread Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Sweet spreads are both natural and artificial foods that are commonly used as toppings on bread, crackers, and other bakery items. The rise in popularity of quick and healthy morning meal alternatives among office employees can be related to the growth of the sweet spread market. Surging innovation is driving up market demand for spreads while also catering to changing client preferences. Youngberries and Blenheim apricot jams and jellies are two examples. Honeys such as Infusionz and Manuka, which have recently been brought to the market in a variety of fruit-based jams and jellies, are expected to boost sweet spread demand.

Data Bridge Market Research analyses that the sweet spread market was valued at USD 10.01 billion in 2021 and is expected to reach USD 12.88 billion by 2029, registering a CAGR of 3.20% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.     

Market Definition

Sweet spreads such as jams, jellies, and nut butter play an important role in people's daily diets. Sweet spreads have quickly gained popularity in previously untouched areas, despite their origins in western cuisine. They're typically eaten with baked wheat goods such as bread, bagels, toasts, and doughnuts for breakfast or as a snack. Moderate consumption of sweet spreads aids in stress management, weight maintenance, cardiovascular disease risk reduction, and the provision of minerals, vitamins, amino acids, and others. As a result, these spreads can be used to make dips, cakes, pudding, pancakes, smoothies, ice creams, and salad dressings, among other things.

Report Scope and Market Segmentation

Sweet Spread Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rising prevalence of lifestyle disorders

The surging prevalence of lifestyle disorders is expected to propel the sweet spread market’s growth rate. The rising frequency of lifestyle diseases, combined with expanding consumer health awareness, has resulted in an increase in demand for low-fat and low-sugar sweet spread variations all over the world.

• Emerging demand for organic food products

Growing demand for organic food products is estimated to drive the sweet spread market growth. The demand for sweet spread food products is steadily increasing, particularly among vegans. Natural components are in high demand among consumers. Traditional flavours are becoming increasingly popular among customers as a result of their distinct flavour and the health advantages of organic components. Furthermore, increased consumer knowledge of these goods' nutritional worth is propelling the demand for sweet spreads food items.

• Surging health awareness among consumers

The rising health awareness among consumers is anticipated to boost the market’s growth rate. People's health awareness is growing in tandem with the rising number of health challenges. Consumers are adjusting their eating habits to include more healthful foods, mostly premium, exotic items, which is predicted to increase demand for a variety of nutrient-dense foods. Furthermore, customers are looking for a high-quality diet that provides a variety of health benefits while still tasting wonderful. This has resulted in a significant shift in consumer diet preferences and a shift from unhealthy to healthy foods.

Furthermore, rising urbanization, and increasing level of disposable income will drive market value growth. Also, continuously changing lifestyle of people will cushion the growth rate of sweet spread market.

Opportunities

• Increasing number of research and development activities

The rising number of research and development activities will create new market opportunities during the forecast period. A major section of the population seeks natural and organic products that are free of artificial additives and preservatives. Additionally, producers are funding research and development (R and D) initiatives to introduce new products, as consumers are captivated by varied flavours.

• Increasing percentage of key consumers

The rising number of key consumers of sweet spread will boost profitable market opportunities in coming years. Sweet spread is mostly consumed by children and young people. Sweet spreads, on the other hand, are now popular among customers of all ages. The market is growing as a result of this. Several companies in the business are offering chocolate-based spreads that may be used as dips. Manufacturers are attempting to achieve innovation that is in accordance with the desires of consumers. As a result, market participants experiment with new flavours and ingredients.

Moreover, rise in strategic collaborations and emerging new markets will act as market drivers and further boost beneficial opportunities for the market’s growth rate. Along with this, the constant developments in technologies and emerging demand for bottled water across the globe will provide new market opportunities in coming years.

Restraints/ Challenges

• High cost of production

The majority of the spread food items are prepared with natural ingredients including cocoa powder, peanuts, almonds, and other high-end items. The demand for these ingredients is steadily increasing among people of all ages all around the world. The prices of raw resources such as almonds, fruits, sugar, and other key ingredients, on the other hand, are always shifting. Most price increases result in high manufacturing costs and market retail prices, making such spreads expensive to middle-class consumers.

On the other hand, the decline in the sales of bread and rising popularity of cereals and high cholesterol related problems will act as market restraint and further challenge the market growth rate.   

This sweet spread market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the sweet spread market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Sweet Spread Market

All industries had several rise and fall in the industry as a result of the COVID-19 shutdown period. Various constraints were imposed to mitigate the effects of COVID-19 resulted in supply chain disruptions and lower production due to labour and raw material shortages. In addition, due to lower income and unemployment, demand for numerous products decreased, particularly in the second quarter of 2020. During the pandemic, however, the sweet spread market saw a surge in demand for sweet spread goods. This is because, particularly during the pandemic, customers preferred a simpler routine and shifted toward the consumption of products that could save them time spent cooking. Magnesium, iron, and a considerable amount of protein are all included in various sweet spreads, which had resulted in a strong demand for them during and after the pandemic.

Recent Development

• In April 2021, DouxMatok had announced the launch of its limited-edition called Incredo Spreads. With just two tablespoons of spread, Incredo Spreads provide 30% of the daily necessary fiber intake, and are created with organic hazelnuts, are non-GMO, gluten-free, use sunflower oil instead of palm oil, and are free of artificial flavours, colours, and preservatives.

Global Sweet Spread Market Scope

The sweet spread market is segmented on the basis of product type, ingredient type, packaging type and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Jams
• Jelly
• Marmalades
• Honey
• Chocolate Spreads
• Others

Ingredient Type

• Cocoa
• Fruits
• Sweeteners
• Essence
• Others

Packaging Type

• Glass Bottle
• Jar
• Polypropylene
• Others

Distribution Channel

• E-Commerce
• Hypermarket/Supermarket
• Convenience Stores
• Others

Sweet Spread Market Regional Analysis/Insights

The sweet spread market is analysed and market size insights and trends are provided by country, product type, nut type, form and application as referenced above.

The countries covered in the sweet spread market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa (MEA).

North America dominates the sweet spread market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the presence of major key players and growing trend for snackification in this region. Also, surging consumption of chocolate spreads will propel the market’s growth rate in this region  

Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period of 2022 to 2029 due to the growing urbanization and surging level of disposable income in this region. Also, presence of large population base is anticipated to propel the market’s growth rate in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Sweet Spread Market Share Analysis

The sweet spread market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to sweet spread market.

Some of the major players operating in the sweet spread market are:

• The Kraft Heinz Company (US)
• Unilever (UK)
• The J.M. Smucker Company (US)
• Ferrero (Italy)
• Conagra Brands, Inc. (US)
• F. Duerr & Sons Ltd (UK)
• Pioneer Food Group (South Africa)
• Mondelez International (US)
• Hormel Foods Corporation (US)
• Andros Foods (US)
• The Hershey Company (US)
• Dabur India Limited (India)
• Glanbia PLC (Ireland)
• Dr. August Oetker Nahrungsmittel KG (Germany)
• Premium Vegetable Oils Sdn Bhd (Malaysia)

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