Global Sweet Spread Market Report and Forecast 2024-2032

Global Sweet Spread Market Outlook

The global sweet spread market size reached a value of approximately USD 77.74 billion in 2023. The market is expected to grow at a CAGR of 6.3% between 2024 and 2032, reaching a value of USD 135.29 billion by 2032.

Key Trends in the Market

A sweet spread refers to a sweet flavoured spreadable paste that is mostly used as a topping on various food and bakery items. Popular sweet spreads include jams, jellies, chocolate spreads, and marmalades, among others.

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• Rising demand for healthy and convenient products is increasing the demand for the sweet spread market as they can be easily added to food and bakery products and can contain various nutrients, vitamins, healthy fats, and minerals.

• The widespread preference for sweet foods is a key trend in the market for sweet spreads, as more people are seeking sweet foods to incorporate into their regular diets. Sweet spreads are versatile and available in various flavours to suit different consumer preferences.

• The consumption of sweet spreads before exercising or any sport activity is on the rise as they provide energy quickly, due to the natural sugars present in the sweet spreads.

Market Analysis

Based on product type, the market is segmented into chocolate spread, jam, jelly and preserves, and nut butter, among others. On the basis of packaging, the market is bifurcated into glass and plastic. By distribution channel, the market is categorised into supermarkets and hypermarkets, convenience store, and online, among others. On the basis of region, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global sweet spread market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• ConAgra Brands, Inc.

• The Kraft Heinz Company

• Unilever plc

• Ferrero International S.A.

• Mondelez International, Inc.

• Hormel Foods Corporation

• The J.M. Smucker Co.

• The Hershey Company

• Dabur India Ltd

• Premium Vegetable Oils Sdn Bhd

• Others

Market Share by Product Type

Jam, jelly and preservatives segment held a sizable share of the sweet spread market by product type due to the wide range of flavours and textures available. The growing popularity of having snacks between whole meals, especially among the younger generation is further enhancing the demand for jams, jellies, and preservatives to consume with toasts, bagels, bread, sandwiches, and crackers, among others.

Meanwhile, nut butter sweet spreads are also expected to grow significantly in the market owing to rising health consciousness. Nut butters contain high protein content along with good fat content which helps in maintaining the health of the consumers.

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Market Share by Region

Europe accounts for a significant share of the global sweet spread market as it is commonly consumed across various countries in the region, being a part of culturally popular dishes and cuisines. There is also considerable production of the sweet spreads in the region, and they are commonly used in bakery products and desserts. Rising demand and consumption from countries such as Germany, the United Kingdom, and France is supporting the market to grow further in Europe.

Competitive Landscape

ConAgra Brands, Inc. founded in 1919 and headquartered in Illinois, United States, specialises in a wide range of consumer-packaged goods. The company manufactures and sells various packaged and processed food products under different brand names.

The Kraft Heinz Company, established in 2015, is a multinational food and beverage company that is headquartered in Illinois, United States. They are known for providing great tasting, nutritious food to consumers all across the globe.

Unilever plc was founded in 1929 and has its headquarters located in London, United Kingdom. This personal care product company is known globally for manufacturing products such as bottled water, food, and soft drink, among others.

Other market players include Ferrero International S.A., Mondelez International, Inc., Hormel Foods Corporation, The J.M. Smucker Co., The Hershey Company, Dabur India Ltd, and Premium Vegetable Oils Sdn Bhd, among others.

Key Highlights of the Report