Food Spread Market

Market Overview:

The global food spread market size reached US$ 32.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 45.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032. The rising expenditure capacities of consumers, the increasing demand for clean label products, and growing inclination of consumers toward a healthy lifestyle represent some of the key factors driving the market.

A food spread is a paste or spreadable cream used as a topping to enhance the flavor or texture of food products. Honey, nut and seed, and fruit and chocolate based are some of the commonly available types of food spreads. They are usually applied to sandwiches, wraps, crackers, toast, chips, bagels, waffles, and baked products. Food spreads are made using cheese, butter, jam, jelly, ketchup, mayonnaise, honey, maple syrup, pesto, avocado, and mustard. They are widely used to enhance the flavor, texture, moisture, and sweetness of food products. They are available in various flavors and textures, such as sweet, low-calorie, savory, herbed, spicy, and meat-based. Some food spreads are a good source of proteins, vitamins, potassium, and unsaturated fats, which help to reduce blood pressure and increase good cholesterol levels.

Food Spread Market Trends:

The increasing product adoption as breakfast ingredients across the globe is one of the key factors driving the market growth. Food spreads, such as hummus, cheese, jams, jellies, and nut butter, are widely used on toast, English muffins, or pancakes and are a good option for breakfast. In line with this, the widespread product adoption as a luxury gift item for relatives, friends, hosts, and business associates is favoring the market growth. Moreover, the rising demand for food spreads as they are easy to use and can be added to a variety of dishes, such as sandwiches, crackers, and baked goods, is acting as another growth-inducing factor. This can be further attributed to the increasing working population and their hectic lifestyle, which is facilitating the demand for convenient to use and ready to eat edibles, including food spreads. Apart from this, the introduction of healthy and organic food spreads that are produced from natural sources, such as plant-based oil, water, and salt with no artificial ingredients, and offer various health benefits are providing an impetus to the market growth. Additionally, manufacturers are focusing on the launch of new honey jars with no artificial sweeteners and minimal processing, which in turn is propelling the market growth. Furthermore, the development of low-calorie food spreads that are high in protein, fiber, and vitamins and assist in weight management is positively influencing the market growth. Other factors, including the rising expenditure capacities of consumers, the increasing demand for clean label products, growing Inclination of consumers toward a healthy lifestyle, the easy product availability across e-commerce platforms and introduction of various flavors, are anticipated to create a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global food spread market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product type and distribution channel.

Product Type Insights:

• Honey
• Chocolate-based Spreads
• Nut and Seed-based Spreads
• Fruit-based Spreads
• Others
   

The report has provided a detailed breakup and analysis of the food spread market based on product type. This includes honey, chocolate-based spreads, nut and seed-based spreads, fruit-based spreads, and others. According to the report, fruit-based spreads represented the largest segment.

Distribution Channel Insights:

• Hypermarkets and Supermarkets
• Convenience Stores
• Online Retail Stores
• Food Service
• Others
   

A detailed breakup and analysis of the food spread market based on the distribution channel has also been provided in the report. This includes hypermarkets and supermarkets, convenience stores, online retail stores, food service, and others. According to the report, convenience stores accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe was the largest market for food spread. Some of the factors driving the Europe food spread market included the rising expenditure capacities of consumers, the growing health consciousness, and the launch of organic product variants.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global food spread market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Andros Group, B&G Foods Inc., Chocoladefabriken Lindt & Sprüngli AG, Conagra Foods Inc., Ferrero SpA, Hormel Foods Corporation, Land O' Lakes Inc., Nestlé S.A., Sioux Honey Association Co-op, The Hain Celestial Group Inc., The Hershey Company, The J.M. Smucker Company, The Kraft Heinz Company, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Food Spread Market Report Scope:

Key Questions Answered in This Report:

• How has the global food spread market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global food spread market?
• What is the impact of each driver, restraint, and opportunity on the global food spread market?
• What are the key regional markets?
• Which countries represent the most attractive food spread market?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the food spread market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the food spread market?
• What is the competitive structure of the global food spread market?
• Who are the key players/companies in the global food spread market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the food spread market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global food spread market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the food spread industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.