Food Spreads Market Analysis

Global Food Spreads Market Overview

Food Spreads Market Size was valued at USD 30.2 Billion in 2023. The Food spreads industry is projected to grow from USD 31.2 Billion in 2024 to USD 41.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.50% during the forecast period (2024 - 2032). Consumer preferences and changing lifestyles, increasing demand for healthy and natural products, growing interest in ethnic and international cuisines, innovation and product development, rising snacking culture, increasing vegan and plant-based diets, e-commerce and online retail, busy lifestyles and time constraints, increasing disposable income, health and wellness trends, are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Food spreads Market Trends

• Increasing demand for healthy and natural products is driving the market growth

The market for food spreads is expanding significantly due to rising consumer demand for natural and healthy products. Modern consumers are more concerned about their health and actively look for food options that support their wellness objectives. The demand for food spreads derived from natural and healthy ingredients, free of artificial additives and preservatives, has increased as a result of this shift in customer preferences. The increased understanding of how diet affects general health and wellbeing is one of the key factors fueling the desire for natural and nutritious foods. People are making deliberate decisions to include healthier options in their diets as they become more aware of the value of eating nutrient-rich foods. Natural food spreads, such as those prepared from nuts, seeds, fruits, and vegetables, are a better choice than processed spreads since they are a rich source of vitamins, minerals, and antioxidants.

The desire for healthy food options has also increased as chronic diseases including obesity, diabetes, and heart disease have become more prevalent. Customers are actively looking for goods that will enable them to keep up a balanced diet without sacrificing flavor. People who are trying to manage their weight or lower their risk of acquiring chronic diseases prefer food spreads that are low in sugar, sodium, or bad fats. The desire for transparency and clear labeling is another factor influencing the market for healthy and natural food spreads. Customers are looking for items with simple and straightforward ingredient labels as their concern over the contents in their food grows. Food spreads with recognized and natural ingredients are more popular among them because they believe they are healthier and safer.

The desire for healthy food spreads has also been influenced by the growth of social media and the influence of health and wellness gurus. Influencers that advocate for healthy food options expose people to a variety of information on websites like Instagram, YouTube, and blogs. This has raised public knowledge of and interest in food spreads that are promoted as nutritious and healthy choices. The expanding market of consumers who adhere to particular diets or dietary restrictions is what is driving the need for natural and healthy food spreads. For instance, people who eat a vegan, vegetarian, gluten-free, or paleo diet need spreads that suit their dietary preferences. As a result of manufacturers recognizing this desire and creating spreads that specifically address certain dietary requirements, the market is now offering more possibilities.

There is no specific age group or demography that is more popular than others when looking for natural and healthy alternatives. It affects all consumer demographics, including elders, millennials, and families. Consumers are more inclined to spend money on goods that support their health goals as they place a higher priority on their well-being. Food spread producers now have a great chance to capitalize on this expanding market and create goods that satisfy consumers' need for healthier alternatives. Manufacturers of food spreads have been creating new product lines and reformulating existing ones to fulfill consumer expectations in response to this rising demand. They are putting a lot of effort into using premium ingredients, cutting back on or doing away with artificial additives, and highlighting the nutritional advantages of their goods. To appeal to consumers who are health-conscious, producers are also highlighting the natural and organic components of their food spreads through labeling and marketing tactics. Thus, driving the Food spreads market revenue.

Food spreads Market Segment Insights

Food spreads Product Type Insights

The Food Spreads Market segmentation, based on product type includes honey, chocolate-based spreads, nut- and seed-based spreads, fruit-based spreads and other product types. The honey segment dominated the market in 2022 due to its ancillary health advantages, including its antimicrobial and immunity-boosting qualities.

Figure 1: Food Spreads Market, by Product Type, 2024 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Food spreads Distribution channel Insights

The Food Spreads Market segmentation, based on distribution channel, includes supermarkets/hypermarkets, convenience stores, online retail stores and other distribution channels. The supermarkets/hypermarkets category generated the most income in 2022. Food spreads are among the numerous food items that may be found at supermarkets and hypermarkets. They provide customers a wide variety of options by having specialized sections or aisles just for spreads. Customers are drawn to the diversity since it enables them to compare several spread brands, flavors, and varieties in one location.

Food spreads Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Food spreads Market dominated this market in 2022 (45.80%). A multicultural region, North America has a diversified population. A vast variety of flavors, including those from other cuisines and cultural origins, are in demand as a result of this diversity. In North America, there is a sizable market for food spreads that incorporate diverse flavors and appeal to different tastes and preferences. Further, the U.S. Food spreads market held the largest market share, and the Canada Food spreads market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: FOOD SPREADS MARKET SHARE BY REGION 2024 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Food spreads market accounts for the second-largest market share. Europe is renowned for its varied cuisine cultures and rich gastronomic heritage. There are distinctive spreads from each nation in Europe, such as Marmite from the UK or Nutella from Italy. The appeal of traditional European spreads and the region's wide range of cuisines both support market expansion and market share. Further, the German Food spreads market held the largest market share, and the UK Food spreads market was the fastest growing market in the European region

The Asia-Pacific Food spreads Market is expected to grow at the fastest CAGR from 2023 to 2032. Asia-Pacific consumers are gravitating toward ready-to-eat and convenient food options as their wages rise and their lifestyles become busier. A convenient and adaptable option for breakfast, snacks, and meals is food spreads. The region's expanding snacking culture and changing nutritional preferences both contribute to the rise in demand for food spreads. Moreover, China’s Food spreads market held the largest market share, and the Indian Food spreads market was the fastest growing market in the Asia-Pacific region.

Food spreads Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Food spreads market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Food spreads industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Food spreads industry to benefit clients and increase the market sector. In recent years, the Food spreads industry has offered some of the most significant advantages to medicine. Major players in the Food spreads market, including The J. M. Smucker Company, The Kraft Heinz Company, Unilever PLC, Conagra Brands Inc., Nestlé S.A., Hormel Foods LLC, Ferrero International S.A., Premier Foods Group, Services Limited, Sioux Honey Association Co-op, B&G Foods, Inc., Ingenuity Brands, The Hershey Company, and others, are attempting to increase market demand by investing in research and development operations.

The J.M. Smucker Co (J.M. Smucker) is a company that produces food and drink items. The company sells items like coffee, pet food, peanut butter, fruit spreads, baking mixes, frozen portable items, flour and baking materials, juices and beverages, and further portion control products. These goods are promoted and offered for sale by J.M. Smucker under the brands 9Lives, Cafe Bustelo, Dunkin', Folgers, Jif, Kibbles'n Bits, Meow Mix, Milk-Bone, Nature's Recipe, and Robin Hood. Through supermarkets, warehouse clubs, and food distributors, it offers these products. The firm mostly conducts business in the US and Canada and exports these goods to several nations across the world. The US city of Orrville, Ohio, is home to J.M. Smucker's headquarters.

Holding business Ferrero International SA (Ferrero). It produces and sells confectionary items like chocolates. The company's product line includes spreads, pralines, mints, and bread goods. The brands Nutella, Kinder, Tic-Tac, Ferrero Rocher, Thorntons, Fannie May, Butterfinger, and Eat Natural are used by Ferrero to sell its goods. Ferrero also sells completed and semi-finished goods made from hazelnuts. The company conducts business in Africa, Asia, Oceania, Europe, and the Americas. Senningerberg, Luxembourg serves as the headquarters of Ferrero.

Key Companies in the Food spreads market include

• The J. M. Smucker Company


• The Kraft Heinz Company


• Unilever PLC


• Conagra Brands Inc.


• Nestlé S.A.


• Hormel Foods LLC


• Ferrero International S.A.


• Premier Foods Group Services Limited


• Sioux Honey Association Co-op


• B&G Foods, Inc.


• Ingenuity Brands


• The Hershey Company

Food spreads Industry Developments

November 2022: Almond Butter Spreads have been developed by Brainiac Foods, a division of Ingenuity Brands, with ingredients to assist brain health. Almond brain butter from Brainiac Foods comes in single-serve, squeezable packets with 155 mg of omega-3 fatty acids, 55 mg of choline, and 6 to 7 grams of protein. There are two flavors: chocolate almond and honey almond.

March 2022: The "Crunchy Cookie" chocolate spread was introduced by The Hershey Company subsidiary Hershey's India Pvt. Ltd. The product includes crisped cookies and chocolate. The product wants to increase its appeal to Gen Z and millennial customers.

March 2022: Cinnamon Toast Crunch Creamy Cinnamon Spread was launched by B&G Foods. Cinnadust flavors baked goods, toast, coffee, pastries, ice cream, and other items with cinnamon, sugar, and sweet notes of vanilla, caramel, and graham.

Food Spreads Market Segmentation

Food Spreads Product Type Outlook

• Honey


• Chocolate-based Spreads


• Nut- and Seed-based Spreads


• Fruit-based Spreads


• Other Product Types

Food Spreads Distribution Channel Outlook

• Supermarkets/Hypermarkets


• Convenience Stores


• Online Retail Stores


• Other Distribution Channels

Food Spreads Regional Outlook

• North America
  
  
  
  • U.S.
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America