United States Food Spread Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

United States Food Spread Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

United States food spread market is forecasted to reach USD 5.9 billion by 2025 growing at a CAGR of 1.87% during the forecast period.

Key Highlights

• In the nut spread category, peanut butter is the most consumed food spread. Almond, cashew, macadamia nut, coconut, and walnut are also entering the US food spread market.
• The food spread industry in the United States is highly competitive, and the private labels compete with the major brands regarding product innovation and pricing.
• Spreads made from natural ingredients i.e., free from additives, like artificial sweeteners, pectin, and gelling agents, and the spreads with nutritional claims are expected to continue to be a major segment for new product development in the US market.

Key Market TrendsIncreasing Number of Private Label Brands

The food spread industry in the United States is highly competitive with private label products competing with major brands, in terms of pricing and product innovation. Apart from the well-established brands, there has been a significant rise in the number of country-specific local brands offering similar products at a more competitive price. The availability of regional products at a convenient price is creating competition in the US market. The greater the number of private-label brands, the greater is the price competition in the market. The competition is forcing many established international brands to differentiate their products from their local producers, leading to product innovation in the market. Private label brands, such as Smuckers, Welch’s, and Polaner, are some of the most popular jam and jelly products consumed in the United States.

Honey is the Fastest Growing Market Segment

In the United States, honey production for 2015 was down by 12%, compared to 2014, for operations with five or more colonies at 157 million pounds; honey was harvested from 2.66 million colonies in 2015, 3% down from the previous year. These declines may negatively affect the honey spread segment but it is showing a full scope for the market to grow in United States. United States is the leading destination for honey imports. The total US honey consumption was 512 million pounds per year, in 2015. Increasing demand from the spreads industry to meet consumer preference for all-natural, organic, low-fat products, has created new opportunities for honey. Most honey spreads are now bought in supermarkets, hypermarkets, and warehouse clubs. However, other channels, such as dollar and convenience stores, are also emerging as retail channels for this product.

Competitive Landscape

New product launches, market expansion, partnerships, and acquisitions are the preferred strategic approaches adopted by most companies involved in the food spread business in the United States. The J.M. Smucker Company, Ferrero International, Sioux Honey Association Co-op, Unilever Group and ConAgra Brands Inc. are the leading players of the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.