Global Spreads Market Outlook, 2028

Global Spreads Market Outlook, 2028

The global spreads market is rising as a result of changing dietary choices and increased demand for western foods. Spreads have long been a staple of breakfast in Western markets, and their popularity is growing globally. The increased desire for indulgent items is pushing the creation of innovative spread products. One of the primary drivers is the ever-changing consumer preferences and tastes. As consumers seek convenience, diverse flavors, and innovative food options, the demand for spreads continues to rise. Furthermore, factors such as health consciousness, dietary restrictions, and cultural preferences shape consumer choices, leading to the introduction of specialized spreads that cater to specific needs and preferences. Furthermore, health and wellness trends have become significant drivers of the spreads market in recent years. With a growing emphasis on leading healthier lifestyles, consumers are increasingly seeking spreads that offer nutritional benefits and align with their wellness goals. This has led to a surge in demand for spreads that are perceived as healthier alternatives, such as those made from natural, organic, low-sugar, low-fat, and plant-based ingredients. Globalization and cultural exchange have further contributed to the expansion of the spreads market. Increased connectivity and exposure to diverse cuisines and flavors have broadened consumers' palates and fostered a willingness to embrace new and international food experiences. As a result, the demand for spreads that represent different regional tastes and culinary traditions has witnessed an upswing, driving market growth and diversification. As consumers embrace global culinary influences, there is a growing demand for spreads with ethnic and exotic flavors. Spreads featuring flavors from various cuisines, such as Mediterranean, Asian, and Middle Eastern, have gained popularity. Consumers are seeking unique taste experiences that reflect their adventurous palates and cultural diversity. Busy lifestyles and the need for convenience have led to a rise in demand for spreads in convenient and on-the-go formats. Single-serve packets, squeeze bottles, and portion-controlled packaging have gained popularity among consumers looking for easy-to-use and portable options. Spreads that offer convenience without compromising on taste or quality are particularly sought after.

According to the research report, Global Spreads Market Outlook, 2028, published by Bonafide Research the market is expected to reach market size of USD 71.63 Billion by 2028 with a significant CAGR of 6 % from USD 50.82 Billion in 2022. The agriculture and farming industry is vital for the production of key ingredients used in spreads, such as fruits, nuts, seeds, and dairy products. Farmers and agricultural enterprises cultivate crops, raise livestock, and provide the raw materials necessary for the manufacturing of spreads. Furthermore, the food packaging industry plays a crucial role in preserving the quality and extending the shelf life of spreads. Packaging materials, such as jars, bottles, pouches, and labels, are designed to maintain product freshness, protect against contamination, and provide consumer convenience. Packaging companies work closely with spread manufacturers to develop attractive and functional packaging solutions. The culinary and hospitality industry, including restaurants, hotels, cafes, and foodservice providers, contributes to the spreads market through the use of spreads in various culinary creations. Chefs and food professionals utilize spreads as ingredients, toppings, or accompaniments in a wide range of dishes, enhancing flavors and adding value to their offerings. Technological advancements have revolutionized the food processing methods used in the spreads industry. Advanced grinding, mixing, and blending equipment have improved the efficiency and consistency of spread production. Automation and robotics have streamlined manufacturing processes, increasing productivity and ensuring product quality and safety. Various technological advancements have been made in processing and preservation techniques to enhance the quality and safety of spreads. High-pressure processing (HPP), pulsed electric field (PEF) technology, and cold pasteurization methods are utilized to preserve spreads while retaining their nutritional integrity. These techniques offer alternatives to traditional heat treatment, reducing the impact on flavor and nutrient content.

Based on product type, the market is segmented into spreadable fats (butter, margarine & cheese), fruit jam & preserve spreads, nut Based spreads, chocolate spreads, savory spreads, and honey based spreads. Among them the market is majorly dominated by spreadable fats (butter, margarine & cheese), Spreadable fats offer a perceived healthier alternative to traditional butter. They often contain lower levels of saturated fats, trans fats, and cholesterol compared to butter. These appeals to health-conscious consumers who are seeking to reduce their intake of these potentially harmful components. Spreadable fats are highly versatile. They can be used not only as spreads on bread, toast, or bagels but also in baking, cooking, and as an ingredient in various recipes. Their versatility makes them a preferred choice for many households. Furthermore, spreadable fats are further segmented into butter, cream cheese and magarine. The butter spreadable fats are widely consumed globally and are dominating the market of spreads. Butter can be used in various culinary applications, such as spreading on bread, melting on vegetables, or baking. Its versatility makes it a preferred choice for consumers who value its ability to enhance the taste of a wide range of dishes. Butter has a rich, creamy, and indulgent flavor that many people enjoy. It is considered a natural and traditional choice for spreads, which contributes to its widespread appeal. During the forecast period the creamy cheese spreads is expected to register highest CAGR of the market.

Europe is the largest market of Spreads market globally. Europe has a strong culinary legacy with a vast range of spreads. Europeans have a long history of appreciating spreads in their food, from butter and margarine to chocolate spreads and nut-based spreads like Nutella. These spreads have become embedded in European food culture, resulting in a steady and huge demand for them. Bread is a major staple in many European countries, and spreads are frequently used to improve the flavour and enjoyment of bread-based meals. Bread and spreads are strongly ingrained in European eating patterns, contributing to the region's high need for spreads. Europe has a wide variety of spreads to suit a wide range of tastes and preferences. Consumers in European markets have a wide range of alternatives, from savoury spreads like cheese and meat spreads to sweet spreads like jams and chocolate spreads. This type appeals to a wide range of consumers and helps the European spread market's overall expansion and dominance. Furthermore, Asia-Pacific is expected to register highest CAGR of the market in spreads globally.

Based on nut based spreads market is segmented into Peanut based Spreads, Hazelnut based Spreads, Almond based Spreads, Walnut based Spreads, Cashew Based Spreads and Others (Pistachio butter, Macadamia nut butter, Pecan butter, Brazil nut butter, Chestnut butter, Pine nut butter, Coconut butter). Among them the market significantly dominated by peanut based spreads with highest market share as well. Peanuts are extensively grown and have a low production cost when compared to other nuts. Because of this accessibility and affordability, peanut-based spreads are more widely available and accessible to consumers, adding to their market domination. Peanut butter has a distinct and enticing flavour that a great number of people appreciate. Peanuts are a popular choice for spreads due to their natural sweetness and nutty flavour, and their taste has become a familiar and soothing alternative for many people. Peanut butter is versatile and may be used in a variety of ways, including spreading it on bread, blending it into smoothies, and putting it into baking recipes. Its adaptability appeals to consumers who value its capacity to improve the taste and texture of various foods. Furthermore, during the forecast period almond based spreads are expected to register highest CAGR of the market.

According to the report, the market is segmented into household and commercial. The household segment is leading the market with significant market share in 2022. Spreads are widely consumed on a daily basis by families worldwide. They are used as toppings for bread, toast, and other baked items, as well as in a variety of recipes. The regular and frequent usage of spreads in households contributes to their commercial dominance. Breakfast is frequently regarded as the most important meal of the day, and spreads play an essential role in breakfast culture. Spreads are commonly used in many households as a fundamental component of their daily routine, such as spreading butter or jam on toast or utilising spreads in breakfast recipes such as pancakes or waffles. The association of spreads with breakfast reinforces their market dominance. During the forecast the commercial end-use is expected to grow positively in the market of spreads. Based on nature, the market is divided into conventional and organic/ plant based. The conventional spreads are playing a vital role in the development of spreads market globally and is leading the market with significant market share as well. Butter, margarine, and nut-based spreads, for instance, have been around for a long time and have been firmly established in culinary traditions and consumer preferences. People are more likely to stay with what they know and are comfortable with. Traditional spreads are adaptable ingredients that can be used in a variety of culinary applications. They can be cooked with, baked with, spread on bread or toast, and even used as a condiment. Because of their flexibility, they are a favourite in many households and restaurants.

The distribution of the market includes hypermarket & supermarket, convenience stores, online and other (foodservice & direct sales). Hypermarket & Supermarket are one of the major sources of distributing the spreads and is dominating the market as well. Spreads from various brands and manufacturers are frequently available at hypermarkets and supermarkets. They provide consumers with a one-stop shopping experience, letting them purchase from a varied assortment of spreads in one spot. This variety attracts clients and allows them to compare items and make informed purchasing decisions. Because of their broad presence in urban and suburban locations, hypermarkets and supermarkets are easily accessible to a huge number of people. They have convenient store hours, plenty of parking and a well-organised layout that makes it easy for customers to find and purchase spreads. These characteristics contribute to the popularity of hypermarkets and supermarkets as primary grocery shopping sites. Furthermore, rise in internet penetration, usage of smart phone and convenience of online shopping is expected to raise the distribution of spreads through online mode during the forecast period.

Companies mentioned in the report
The Kraft Heinz Company, The Hershey Company, Ferrero SpA , Unilever PLC, Nestlé S.A., Hormel Foods Corporation, Mondelēz International, Inc., General Mills, Inc., Conagra Brands, Inc, Andros , Hero Group, Dr. Oetker , The J.M. Smucker Company, Lotus Bakeries , B&G Foods, Inc., The Hain Celestial Group, Inc., Land O’lakes Inc., Almarai Company, Tiger Brands, Nature Nate's Honey.

Considered in this report
• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Global Spreads market with its value and forecast along with its segments
• Region-wise Spreads market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report:
• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle East & Africa (UAE, Saudi Arabia, South Africa)

By Product Type:
• Spreadable Fats (Butter, Margarine & Cheese)
• Fruit Jam & Preserve Spreads
• Nut Based Spreads
• Chocolate Spreads
• Savory Spreads
• Honey Based Spreads

By Spreadable Fats:
• Butter
• Cream Cheese
• Magarine

By Nut Based Spreads:
• Peanut based Spreads
• Hazelnut based Spreads
• Almond based Spreads
• Walnut based Spreads
• Cashew Based Spreads
• Others (Pistachio butter, Macadamia nut butter, Pecan butter, Brazil nut butter, Chestnut butter, Pine nut butter, Coconut butter)

By End-Use:
• Household
• Commercial

By Nature:
• Conventional
• Organic / Plant Based

By Distribution Channel:
• Hypermarket & Supermarket
• Convenience Store
• Online
• Others (Foodservice & Direct Sales)

The approach of the report
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Spreads industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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