Global Sweet Spreads Market Hits $1.2 Billion in 2022, Expected to Grow at a Steady CAGR of 3.3% to Reach $1.5 Billion by 2028

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Sep 27, 2023, 14:45 ET

DUBLIN, Sept. 27, 2023 /PRNewswire/ -- The "Sweet Spreads Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global sweet spreads market has demonstrated notable growth, reaching a market size of US$ 1.2 billion in 2022. Market projections anticipate further expansion, with the market expected to reach US$ 1.5 billion by 2028, representing a steady compound annual growth rate (CAGR) of 3.3% during the period from 2023 to 2028. The report offers comprehensive insights into market performance, trends, drivers, and more.

Sweet Spreads: A Breakfast Staple

Sweet spreads, including jams, jellies, and nut butter, have become integral components of daily diets worldwide. While these spreads traditionally featured in Western cuisines, they have gained rapid popularity in untapped markets. Typically enjoyed with baked wheat products such as bread, bagels, toast, and doughnuts, sweet spreads are consumed during breakfast or snack times.

Moderate consumption of sweet spreads contributes to stress management, weight maintenance, reduced risk of cardiovascular diseases, and the intake of vitamins, minerals, amino acids, and other nutrients. Consequently, sweet spreads are used in various applications, including dips, cakes, puddings, pancakes, smoothies, ice creams, and salad dressings.

Urbanization, sedentary lifestyles, and busy schedules have prompted consumers to opt for quick, healthy, convenient, and on-the-go meal options. This shift is driving the overall sales of sweet spreads worldwide. Additionally, the increasing prevalence of lifestyle diseases and rising health consciousness among consumers have led to a growing demand for low-fat and low-sugar sweet spread variants.

Many consumers also seek natural and organic products without artificial additives or preservatives. Responding to consumers' interest in diverse flavors, manufacturers are investing in research and development (R&D) to introduce new products. Furthermore, international brands are customizing their products based on local tastes, preferences, and cultural influences to expand their consumer base.

Key Market Segmentation:

The market report provides an in-depth analysis of the global sweet spreads market, with segmentation based on product type, packaging type, and distribution channel:

Product Type: Includes jams and preserves, honey, chocolate spreads, nuts and seed-based spreads, and others.
Packaging Type: Comprises glass packaging, plastic packaging, and others.
Distribution Channel: Encompasses hypermarkets and supermarkets, specialist retail stores, convenience stores, online stores, and others.

Regional Analysis:

The market is segmented regionally into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America.

Leading Players:

Key companies operating in the global sweet spreads market include:

J.M. Smucker Company
Kraft Heinz Company
Unilever PLC/NV
Conagra Brands, Inc.
Ferrero International S.A.
Mondelez International, Inc.
Dabur India Limited
Hershey Company
Hormel Foods Corporation
Andros, SNC
And more.

Recent Developments:

Recent developments in the market include:

Continued innovation and product enhancements by leading companies to offer high-quality, premium grooming solutions.
Expanded use of sweet spreads in various culinary applications, including flavoring dishes and enhancing the taste of desserts.
Collaboration between sweet spread manufacturers and renowned chefs to create unique recipes and culinary experiences.
Growing awareness of the nutritional benefits of honey as a natural sweetener and the incorporation of honey-based spreads into dietary routines.

Key Questions Addressed:

The market report answers key questions, including:

How has the global sweet spreads market performed to date, and what is its future outlook?
Which regions are the primary growth markets for sweet spreads?
What impact has COVID-19 had on the global sweet spreads market?
What are the key product types in the global sweet spreads market?
What are the major market trends?
How is the market segmented by packaging type?
What are the key drivers and challenges in the market?
What is the level of competition in the market?
What are the profit margins in the global sweet spreads industry?

For more information about this report visit https://www.researchandmarkets.com/r/dvnpan

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