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India Spreads Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The India spreads market reached a value of US$ 202.80 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 674.20 Million by 2027, exhibiting a CAGR of 22.40% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Spread refers to a variety of condiments that is generally consumed for enhancing the texture, palatability, and flavor of the food. It is usually applied on to foods, such as bread, crackers, waffles, pancakes, etc., which may taste bland otherwise. Some of the common ingredients utilized for preparing spreads include milk, butter, cocoa, fruits, nuts, spices, herbs, etc. In India, spreads have gained prominence in the form of dressings, snack dips, dessert glaze, cake icings, jellies, etc.

India Spreads Market Trends:

In India, the increasing penetration of western food trends, along with the growing FMCG sector, is primarily driving the demand for spreads. Furthermore, the rising hectic work schedules and sedentary lifestyles of the consumers are catalyzing the adoption of convenient, on-the-go meal, and processed food options, which in turn is augmenting the spreads market in the country. In line with this, the expanding working women population and the improving consumer living standards are also bolstering the demand for premium and high-quality spreads. Additionally, significant growth in the HoReCa industry, coupled with the increasing poliferation of fast-food joints and quick-service restaurants (QSRs) across the country is further propelling the market growth. Several regional product manufacturers are focusing on the introduction of innovative spread variants, including fruit preserves, fruit butter, sugar-free syrups, etc., to cater to diverse consumer preferences and expand their product portfolios. Moreover, the wide product availability across e-retail platforms accompanied with numerous benefits, such as lucrative discounts, cashbacks, different product options, easy returns, etc., is acting as significant growth-inducing factor. In line with this, the continual launch of spreads with clean-label ingredients, prolonged shelf-life, easy portability, etc., is positively influencing the market growth in the country. Additionally, the rising consumer concerns towards the negative health impact of synthetic additives in spreads are catalyzing the demand for natural and organic product variants, which is expected to drive India spreads market in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India spreads market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on product type, distribution channel and income group.

Breakup by Product Type:

  • Jam
  • Chocolate spreads
  • Peanut Butter
  • Syrup
  • Others
     

Breakup by Distribution Channel:

  • Convenience Stores
  • Supermarkets and Hypermarkets
  • Online Stores
  • Others
     

Breakup by Income Group:

  • Upper-Middle (INR 5.5 lacs - 27.5 lacs)
  • High-Income (Greater than INR 27.5 lacs)
  • Lower-Middle (INR 2.5 lacs- INR 5.5 lacs)
  • Low-Income (Less than INR 2.5 Lacs)
     

Breakup by Region:

  • North India
  • South India
  • West and Central India
  • East India
     

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Hindustan Unilever Limited (Unilever), G.D. Foods Manufacturing India Pvt. Ltd., Mapro Foods Pvt. Ltd, Ferrero India Pvt. Ltd. (Ferrero International S.A.), Dr. Oetker India Pvt. Ltd.(Dr. Oetker India Holding GmbH), Hershey India Pvt. Ltd. (The Hershey Company) and Agro Tech Foods Ltd (Sundrop).

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Million
Segment Coverage Product Type, Distribution Channel, Income Group, Region
Region Covered North India, South India, West and Central India, East India
Companies Covered Hindustan Unilever Limited (Unilever), G.D. Foods Manufacturing India Pvt. Ltd., Mapro Foods Pvt. Ltd, Ferrero India Pvt. Ltd. (Ferrero International S.A.), Dr. Oetker India Pvt. Ltd.(Dr. Oetker India Holding GmbH), Hershey India Pvt. Ltd. (The Hershey Company) and Agro Tech Foods Ltd (Sundrop).
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
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Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    India Spreads Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Product Type 
    6.1    Jam
        6.1.1 Market Trends
        6.1.2 Market Breakup by Premiumization
        6.1.3 Market Breakup by Key Players
        6.1.4 Market Forecast
    6.2    Chocolate Spread
        6.2.1 Market Trends
        6.2.2 Market Breakup by Premiumization
        6.2.3 Market Breakup by Key Players
        6.2.4 Market Forecast 
    6.3    Peanut Butter
        6.3.1 Market Trends
        6.3.2 Market Breakup by Premiumization
        6.3.3 Market Breakup by Key Players
        6.3.4 Market Forecast 
    6.4    Syrup
        6.4.1 Market Trends
        6.4.2 Market Breakup by Premiumization
        6.4.3 Market Breakup by Key Players
        6.4.4 Market Forecast
    6.5    Others
        6.5.1 Market Trends
        6.5.2 Market Forecast
7    Market Breakup by Distribution Channel 
    7.1    Convenience Stores
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Supermarkets/Hypermarkets
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Online
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Others 
        7.4.1 Market Trends
        7.4.2 Market Forecast
8    Market Breakup by Income Group 
    8.1    Upper-Middle (INR 5.5 lacs - 27.5 lacs)
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    High-Income (Greater than INR 27.5 lacs)
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Lower-Middle (INR 2.5 lacs- INR 5.5 lacs)
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Low-Income  (Less than INR 2.5 Lacs)
        8.4.1 Market Trends
        8.4.2 Market Forecast
9    Market Breakup by Region 
    9.1    North India
        9.1.1 Market Trends
        9.1.2 Market Breakup by States 
        9.1.3 Market Forecast
    9.2    West and Central India
        9.2.1 Market Trends
        9.2.2 Market Breakup by States
        9.2.3 Market Forecast 
    9.3    South India
        9.3.1 Market Trends
        9.3.2 Market Breakup by States 
        9.3.3 Market Forecast 
    9.4    East India
        9.4.1 Market Trends
        9.4.2 Market Breakup by States
        9.4.3 Market Forecast 
10    SWOT Analysis
    10.1    Strengths
    10.2    Weaknesses
    10.3    Opportunities
    10.4    Threats 
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.1    Key Players
    14.1    Profile of Key Players
        14.3.1    Hindustan Unilever Limited (Unilever) 
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
        14.3.2    G.D. Foods Manufacturing India Pvt. Ltd.
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
        14.3.3    Mapro Foods Pvt. Ltd.
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
        14.3.4    Ferrero India Pvt. Ltd. (Ferrero International S.A.)
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
        14.3.5    Dr. Oetker India Pvt. Ltd. (Dr. Oetker India Holding GmbH)
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
        14.3.6    Hershey India Pvt. Ltd. (The Hershey Company)
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           17.3.6.3 Financials
        14.3.7    Agro Tech Foods Ltd 
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials

List of Figures

Figure 1: India: Spreads Market: Major Drivers and Challenges
Figure 2: India: Spreads Market: Sales Value (in Million US$), 2016-2021
Figure 3: India: Spreads Market Forecast: Sales Value (in Million US$), 2022- 2027
Figure 4: India: Spreads (Jam) Market: Sales Value (in Million US$), 2016 & 2021
Figure 5: India: Spreads (Jam) Market: Market Breakup by Premiumization (in %), 2021
Figure 6: India: Spreads (Jam) Market: Market Breakup by Key Players (in %), 2021
Figure 7: India: Spreads (Jam) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 8: India: Spreads (Chocolate Spreads) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: India: Spreads (Chocolate Spreads) Market: Market Breakup by Premiumization (in %), 2021
Figure 10: India: Spreads (Chocolate Spreads) Market: Market Breakup by Key Players (in %), 2021
Figure 11: India: Spreads (Chocolate spreads) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: India: spreads (Peanut Butter) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: India: Spreads (Peanut Butter) Market: Market Breakup by Premiumization (in %), 2021
Figure 14: India: Spreads (Peanut Butter) Market: Market Breakup by Key Players (in %), 2021
Figure 15: India: Spreads (Peanut Butter) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: India: Spreads (Syrup) Market: Sales Value (in Million US$), 2016-2021
Figure 17: India: Spreads (Syrup) Market: Market Breakup by Premiumization (in %), 2021
Figure 18: India: Spreads (Syrup) Market: Market Breakup by Key Players (in %), 2021
Figure 19: India: Spreads (Syrup) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: India: Spreads (Others) Market: Sales Value (in Million US$), 2016-2021
Figure 21: India: Spreads (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: India: Spreads (Convenience Store) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: India: Spreads (Convenience Store) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: India: Spreads (Supermarkets and Hypermarkets) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: India: Spreads (Supermarkets and Hypermarkets) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: India: Spreads (Online Stores) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: India: Spreads (Online Stores) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: India: Spreads (Other Distribution Channels) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: India: Spreads (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: India: Spreads (Upper-Middle (INR 5.5 lacs - 27.5 lacs)) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: India: Spreads (Upper-Middle (INR 5.5 lacs - 27.5 lacs)) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: India: Spreads (High-Income (Greater than INR 27.5 lacs)) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: India: Spreads (High-Income (Greater than INR 27.5 lacs)) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: India: Spreads (Lower-Middle (INR 2.5 lacs- INR 5.5 lacs)) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: India: Spreads (Lower-Middle (INR 2.5 lacs- INR 5.5 lacs)) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: India: Spreads (Low-Income (Less than INR 2.5 Lacs)) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: India: Spreads (Low-Income (Less than INR 2.5 Lacs)) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: North India: Spreads Market: Sales Value (in Million US$), 2016-2021
Figure 39: North India: Spreads Market: Breakup by States (in %), 2021
Figure 40: North India: Spreads Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: West and Central India: Spreads Market: Sales Value (in Million US$), 2016-2021
Figure 42: West and Central India: Spreads Market: Breakup by States (in %), 2021
Figure 43: West and Central India: Spreads Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: South India: Spreads Market: Sales Value (in Million US$), 2016-2021
Figure 45: South India: Spreads Market: Breakup by States (in %), 2021
Figure 46: South India: Spreads Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: East India: Spreads Market: Sales Value (in Million US$), 2016-2021
Figure 48: East India: Spreads Market: Breakup by States (in %), 2021
Figure 49: East India: Spreads Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: India: Spreads Industry: SWOT Analysis
Figure 51: India: Spreads Industry: Value Chain Analysis 
Figure 52: India: Spreads Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: India: Spreads Market: Key Industry Highlights, 2021 and 2027
Table 2: India: Spreads Market: Breakup by Product Type (in Million US$), 2016 & 2021
Table 3: India: Spreads Market Forecast: Breakup by Product Type (in Million US$), 2022-2027
Table 4: India: Spreads Market: Breakup by Distribution Channel (in Million US$), 2016 & 2021
Table 5: India: Spreads Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 6: India: Spreads Market: Breakup by Income Group (in Million US$), 2016 & 2021
Table 7: India: Spreads Market Forecast: Breakup by Income Group (in Million US$), 2022-2027
Table 8: India: Spreads Market: Breakup by Region (in Million US$), 2016 & 2021
Table 9: India: Spreads Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 10: India: Spreads Market: Key Price Indicators
Table 11: India: Spreads Market: Market Structure
Table 12: India: Spreads Market: Key Players


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Key Questions Answered in This Report

The India spreads market was valued at US$ 202.80 Million in 2021.

We expect the India spreads market to exhibit a CAGR of 22.40% during 2022-2027.

The sudden outbreak of the COVID-19 pandemic has led to the shifting consumer preferences from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of spreads across the nation.

The rising penetration of western food trends, along with the introduction of innovative spread variants, such as fruit preserves, fruit butter, sugar-free syrups, etc., is primarily driving the India spreads market.

Based on the product type, the India spreads market can be categorized into jam, chocolate spreads, peanut butter, syrup, and others. Currently, jam holds the majority of the total market share.

Based on the distribution channel, the India spreads market has been segmented into convenience stores, supermarkets and hypermarkets, online stores, and others. Among these, convenience stores currently exhibit a clear dominance in the market.

Based on the income group, the India spreads market can be bifurcated into upper-middle (INR 5.5 lacs - 27.5 lacs), high-income (greater than INR 27.5 lacs), lower-middle (INR 2.5 lacs- INR 5.5 lacs), and low-income (less than INR 2.5 lacs). Currently, upper-middle (INR 5.5 lacs - 27.5 lacs) income group accounts for the largest market share.

On a regional level, the market has been classified into North India, South India, West and Central India, and East India, where North India currently dominates India spreads market.

Some of the major players in the India spreads market include Hindustan Unilever Limited (Unilever), G.D. Foods Manufacturing India Pvt. Ltd., Mapro Foods Pvt. Ltd, Ferrero India Pvt. Ltd. (Ferrero International S.A.), Dr. Oetker India Pvt. Ltd. (Dr. Oetker India Holding GmbH), Hershey India Pvt. Ltd. (The Hershey Company), and Agro Tech Foods Ltd (Sundrop).

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