Global Spreads Market Overview, 2028

Global Spreads Market Overview, 2028

The desire for western meals and shifting dietary preferences are driving growth in the worldwide spreads industry. In Western markets, spreads have long been a standard breakfast food, and their ubiquity is spreading internationally. The demand for indulgent goods is rising, which is driving the development of new spread products. Consumer preferences and tastes, which are constantly changing, are one of the main drives. The demand for spreads is steadily increasing as people look for convenience, a wide variety of flavours, and cutting-edge cuisine options. The creation of specialised spreads that address certain requirements and preferences is also influenced by variables including health consciousness, dietary limitations, and cultural preferences. In recent years, the spreads market has also been significantly influenced by trends in health and wellness. Consumers are increasingly looking for spreads that provide nutritional benefits and support their wellness objectives as the emphasis on living healthy lifestyles grows. Spreads created from natural, organic, low-sugar, low-fat, and plant-based components are in high demand as a result, as they are seen as healthier options. The market for spreads has expanded in part due to globalisation and cultural interaction. Consumers' palates have been expanded as a result of increased connectedness and exposure to a variety of cuisines and flavours, which has also encouraged a willingness to try new and exotic foods. As a result, there has been an increase in demand for spreads that reflect various regional tastes and culinary traditions, which has led to market expansion and diversification. Spreads with ethnic and unique flavours are in greater demand as consumers embrace global culinary influences. Spreads with flavours from other cuisines, including Middle Eastern, Asian, and Mediterranean cuisines, have become more common. Customers are looking for distinctive culinary experiences that showcase their diverse cultural backgrounds and experimental palates. Demand for spreads in portable and compact formats has increased as a result of busy lifestyles and the need for convenience. Squeeze bottles, single-serve packages, and portion-controlled packaging are becoming more and more well-liked among customers looking for convenient and portable solutions. Spreads that are convenient without sacrificing flavour or quality are especially desired.

According to the research report, Global Spreads Market Overview, 2023-2028, 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. Producing essential spread ingredients, including fruits, nuts, seeds, and dairy products, depends on the agriculture and farming industries. Crops, cattle, and the raw materials required to make spreads are all produced by farmers and agricultural businesses. Furthermore, the spreads' quality is maintained and their shelf life is extended, thanks in large part to the food packaging sector. Jars, bottles, pouches, and labels are examples of packaging materials that are used to preserve product freshness, guard against contamination, and offer consumer convenience. To provide packaging options that are both appealing and practical, packaging businesses collaborate closely with makers of spreads. Spreads are used in a variety of culinary creations by the restaurant, hotel, café, and foodservice industries, which together make up the culinary and hospitality sector. Spreads are used by chefs and other food industry experts as ingredients, garnishes, or accompaniments in a variety of cuisines, improving flavours and boosting the appeal of their products. Modern technological developments have completely changed how food is processed in the spreads sector. The effectiveness and consistency of spread production have been increased through the use of modern grinding, mixing, and blending equipment. Manufacturing procedures have been reduced by automation and robotics, enhancing production and guaranteeing the quality and safety of the final product. To improve the quality and safety of spreads, numerous technical advances have been made in processing and preservation methods. Spreads are preserved while maintaining their nutritional integrity using high-pressure processing (HPP), pulsed electric field (PEF) technology, and cold pasteurisation techniques. These methods provide substitutions for conventional heat treatment, minimising the influence on flavour and nutritional value.

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. Alternatives to regular butter that are spreadable are said to be healthier. Compared to butter, they frequently have lower levels of cholesterol, Trans fats, and saturated fats. These entice consumers who care about their health and want to limit their intake of these possibly dangerous ingredients. Spreadable fats come in a wide variety. In addition to being used as spreads on bread, toast, or bagels, they can also be used in baking, cooking, and as an ingredient in a variety of dishes. They are a popular option for many households due to their versatility. Spreadable fats are further divided into the categories of butter, cream cheese, and margarine. Butter and other spreadable fats are widely consumed worldwide and currently rule the spread business. Butter can be used in a variety of culinary processes, including baking, melting over vegetables, and spreading on toast. Because of its adaptability, it is a popular option with consumers who value its capacity to improve the flavour of a variety of foods. Many individuals like the rich, creamy, and decadent flavour of butter. Its great appeal is a result of the fact that it is regarded as a natural and conventional option for spreads. During the forecast period the creamy cheese spreads is expected to register highest CAGR of the market.

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. In comparison to other nuts, peanuts are widely farmed and have a low manufacturing cost. Peanut-based spreads are more extensively available and accessible to customers as a result of their price and accessibility, which strengthens their market dominance. Many people enjoy the distinctive flavour of peanut butter because it is so appealing. Due to their inherent sweetness and nutty flavour, peanuts are a popular option for spreads, and many people have grown to associate their flavour with familiarity and comfort. Given its adaptability, peanut butter can be utilised in a variety of applications, including spreading it on bread, incorporating it into smoothies, and adding it to baking recipes. Customers who respect its potential to enhance the flavour and texture of different foods are drawn to its versatility. 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.

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
• Europe
• Asia-Pacific
• South America
• Middle East & 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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