Sweets are a part and parcel of everybody’s life, and are universally regarded for giving a gratifying experience. Consumption of sweet-spread is historically rooted in the European and American culture. Sweet spreads consist of jams and jellies, honey, nut-based spreads, syrup based spreads, and chocolate spreads. The product is mostly consumed at the breakfast table or with afternoon tea, and is combined with whole-grain food products like bread, toast or bagels. This industry is highly competitive in nature where private labels provide stiff competition to the established brands in terms of product innovation as well as price.
The sweet-spread market has witnessed steady growth, and has attracted a large number of players in the market. With product innovations on the rise, it is expected to grow further at a brisk rate. Europe has the largest market of sweet-spread, with Germany, Italy, and the UK being the top consumers. The USA is also a huge consumer of sweet-spread and has rapidly enhanced its consumption. Although it is not a feature of regular Asian breakfast, the sheer population in the Asian region makes it in one the largest global consumer.
Product innovation is one of the key drivers of this market. Changing tastes and preferences of consumers has forced companies to innovate their products aggressively to remain competitive. This has also resulted in the high growth of the market. Sweet-spreads are the main ingredient of an English breakfast, and households stock it in conformance to their culture. This drives the sales in this market. The rising health consciousness among this generation has driven the growth of low-calorie sweet-spread as well. The huge number of private labels competes with the established brands aggressively, and also commands a fair market share in local markets. Apart from that, due to the harried lifestyle of the youth, readymade breakfast is more in demand as people perceive spreading jam on bread, time consuming.
Some of market players in this industry are Unilever Group, Wellness Foods Ltd., Premier Foods Plc, Ferrero Group, and Andros SAS.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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