The global spreads products market was valued at USD 24.8 billion in 2021 and is projected to expand at a CAGR of 4.8% from 2022 to 2030. Spreads products are used as condiments and toppings on food items, such as bread, sandwiches, and toast. The increasing demand for convenience foods and the growing trend of in-home snacking are anticipated to fuel the demand for spreads products over the forecast period.

The spread products market is witnessing increasing demand for organic, vegan, and gluten-free products. This has led to the launch of numerous organic products in the market. For instance, in April 2021, Nature’s Garden launched vegan and organic spreads, such as Organic Cashew Butter, Organic Peanut Butter, Organic Almond Butter, and Organic Coconut Butter. Additionally, the growing trend of customization of products according to the taste of consumers is projected to offer lucrative opportunities for market players.

In addition, the increasing trend of online shopping is expected to drive the growth of the market. With the pandemic, people are preferring to shop online due to social distancing norms, which is anticipated to offer substantial growth opportunities for market players. The leading retailers are focusing on expanding their e-commerce presence in order to meet the increasing demand from customers. For instance, in August 2021, Unilever announced the launch of its online store, which will offer products from its popular food brands, including spreads, such as Hellman’s and Becel.

Moreover, the increasing availability of various flavors and the rising popularity of nut butter-based spreads are expected to contribute to the market growth. For instance, in December 2021, Little Mashies launched a range of healthy and delicious nut butter-based spreads. The product is available in three flavors, including Coconut & Chia, Peanut & Cacao, and Almond & Vanilla. Furthermore, the growing demand for high-protein snacks and the trend of consuming more healthy and nutritious food is expected to drive the market growth in the coming years.

The peanut butter segment held the largest share of the market in 2022, owing to the increasing demand for ready-to-eat food items and rapid urbanization. According to a survey conducted by the National Peanut Board in January 2020, 98% of Americans eat peanut butter at least once a week. Furthermore, rising health consciousness among consumers is driving the demand for natural and organic peanut butter products.

The jam segment is projected to register the fastest CAGR of 5.6% during the forecast period. Growing demand for convenience food items, such as jam-filled bread and toast, is driving the market growth. According to an article published by the American Institute for Cancer Research in April 2020, jam is a good source of antioxidants and phytochemicals, which helps fight against cancer and other chronic illnesses. In addition, increasing health-consciousness and health benefits associated with jam are expected to boost the market growth.

The supermarkets & hypermarkets segment captured the major share of over 39.1% in 2022. Supermarkets and hypermarkets are the main distribution channels for spreads products. This is due to their widespread presence, convenient locations, and product variety. Furthermore, these stores have the ability to offer competitive prices, which contributes to their popularity among consumers. Additionally, supermarkets and hypermarkets are preferred over other distribution channels as they offer a secure shopping environment.

The online segment is anticipated to expand at the highest CAGR of 12.4% over the forecast period. The growing popularity of online shopping has resulted in a surge in the number of consumers purchasing spreads products online. This can be attributed to the convenience and ease of shopping, along with the availability of discounts and offers on online platforms. Furthermore, online stores offer a wide range of products and allow consumers to compare prices and ingredients, which further boosts their demand.

The jams and jellies segment accounted for the highest revenue share with 63.5% in the year 2022. This segment is driven by the increasing demand for jams and jellies in the breakfast meals in developed countries. Also, the growing trend of consuming fruit preserves in different forms, such as on toast and bagels, is also driving the growth of this segment. Furthermore, the demand for jams and jellies is expected to increase due to the rising health consciousness among customers.

The honey segment is projected to expand at the highest CAGR of 7.7% over the forecast period. The increasing demand for honey in numerous applications, such as sauces and dressings, bakery items, and snacks, is driving the growth of this segment. Moreover, the rising health awareness among consumers is expected to increase the demand for honey-based spreads. Furthermore, the increasing R&D activities for the development of functional foods and the introduction of innovative honey-based products are expected to boost the segment growth.

Europe held the largest revenue share of the global spreads market in 2020. This is mainly attributed to the growing demand for healthy and convenient food. Consumers in the region are increasingly opting for low-calorie spreads with health benefits instead of traditional butter and margarine. In addition, the availability of a wide variety of spreads, such as chocolate spreads, nut butters, and avocado-based spreads, is driving the growth of the market in the region.

The Asia Pacific is expected to witness the fastest growth in the coming years. This is mainly due to the increasing disposable income of consumers and rising health consciousness in the region. High demand from the foodservice industry is also expected to drive the growth of the market in the region. For instance, in April 2021, Spreads Direct, a UK-based food distributor, announced the launch of its products in the Asia Pacific region.

In this part of the spreads products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your spreads products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main sources of revenue for a spreads products business come from the sale of products, such as spreads, jams, and sauces. Other potential sources of revenue could include catering services, private label products, and corporate gifting.

Projecting Expenses

In this section, all the regular expenses related to keeping the spreads products business running will be described. The list of operating expenses includes material costs, wages, utilities, advertising and marketing, legal fees, insurance policies, and others.

Some of the key companies operating in the spreads products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In July 2022, Unilever launched the Flora Plant Butter, a vegan spread made with sunflower oil, coconut oil, and almond butter.

– In August 2022, Kraft Heinz launched the new plant-based spread, LightLife, which is made with sunflower oil and coconut oil.

– In September 2022, Ferrero launched the Nutella B-Ready with hazelnuts, milk and cocoa spread.

Some of the prominent players in the spreads products market include:

– Unilever
– Kraft Heinz
– Nestlé SA
– Ferrero
– Sanitarium Health & Wellbeing
– Bega Cheese Limited
– Meadow Fresh
– Lewis Road Creamery
– Homestead Creamery
– Arla Foods

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global [spreads] products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Jams
– Honey
– Peanut Butter
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Mass
– Premium

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the major trends in the Spreads Products Market?
[A]: The Spreads Products market is witnessing a number of trends, such as the increasing availability of organic and plant-based spreads, rising demand for convenience due to the presence of a large number of working population, and the growing trend of eating healthy. Additionally, the growth in the demand for natural and healthy spreads is also driving the market growth.

[Q]: Who are the Key Players in the Spreads Products Market?
[A]: Key players in the spreads products market include Unilever, Kraft Heinz, Nestle, Fondaco, KRAFT Foods, The J.M. Smucker Company, The Hain Celestial Group, Inc., General Mills, Inc., and Pepsico, Inc.

[Q]: What are the Drivers of the Spreads Products Market?
[A]: Drivers of the spreads products market include rising health consciousness among consumers, increasing demand for convenience, and the availability of organic and plant-based products.

[Q]: What Regions Offer the Largest Opportunity for Sales of Spreads Products?
[A]: North America is expected to be the largest market for spreads products, due to the presence of a large number of working population and the high demand for convenience foods. Additionally, Europe is also expected to be a lucrative market due to the growing demand for health and wellness products.

[Q]: What are the Challenges Facing the Spreads Products Market?
[A]: Challenges faced by the spreads products market include increasing competition from local players, price volatility of raw materials, and the presence of stringent regulations. Additionally, the rising consumer demand for natural and healthy spreads is also a challenge for manufacturers.