DUBAI, United Arab Emirates, Jan. 28, 2022 (GLOBE NEWSWIRE) — As per Future Market Insights (FMI), the global spreads market will grow at 6.3% CAGR between 2021 and 2031. Increasing focus on healthy eating will emerge as a chief growth driver.
|Spreads Market Year Value (2020A)||$25.8 Bn|
|Estimated Year Value (2021E)||US$ 27.1 Bn|
|Projected Spreads Market Year Value (2031F)||$49.82 Bn|
|Value CAGR (2021-2031)||6.3%|
Awareness regarding consumption is presently moving to the idea of deep-rooted transparency in product labeling. Advent of latest technologies has provided consumers accessibility to smart labels, through which, they can track the journey of the products and compare their individual qualities.
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Consumers are nowadays asking food companies to increase the transparency of their products, going beyond free-from status, ingredients, and nutritional levels. The buyers want to understand the background of the products – from where and how the ingredients were sourced, right till the end product. In the food and beverages industry, trust and transparency have become major challenges, as there aren’t any strict regulations and guidelines laid down by governments regarding clean labeling.
Companies have started using clean labeling as a catchword for promotional and marketing purposes, and have taken advantage of this to sell their products as clean label products. This trend is visible in spreads market. Higher focus on deriving ingredients from natural resources and flavor innovations will drive growth in the spreads market.
Key Takeaways from the Spreads Market Study:
- In terms of value, the nut based spreads segment is expected to remain dominant in the global Spreads market over the forecast period. This segment is expected to account for a value share of 26.0% by 2031 end.
- In terms of value, household/retail spreads segment is expected to remain dominant in the global spreads market throughout the forecast period, with a value share of more than 59% by end of 2031.
- In terms of value, conventional spreads segment is expected to dominant remain in the global spreads market throughout the forecast period, with a value share of over 90% by 2031.
- The US spreads market will account for over 77% of sales in North America.
- Demand for spreads in the UK will grow by 5.1% CAGR between 2021 and 2031.
“Due to the increasing health consciousness and the ability to spend on premium and specialty food products, North America and Europe have emerged as dominant regions in the spreads market. Besides this, the concentration of big players in these regions is creating strong prospects for spreads sales through 2031,” said a lead analyst at FMI.
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Scope of Report
|Historical Data Available for||2016-2020|
|Market Analysis||USD Million for Value|
|Key Countries Covered||US, Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa|
|Key Segments Covered||Product Type, End Use, Nature, Distribution Channel, and Region|
|Key Companies Profiled|| • Nestlé SA
• The Kraft Heinz Company
• Conagra Brands, Inc.
• Pioneer Food Group Ltd
• The Hershey Company
• Strauss Group Ltd.
• The JM Smucker Company
• Hormel Foods Corporation
• General Mills Inc.
• Atlantic Grupa dd
• Dr. Oetker GmbH
• Ferrero SpA
|Report Coverage||Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives|
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Big players operating in the global spreads market are investing and capitalizing on packaging trends and packaging innovations. They are trying to and innovative new packaging solutions to improve their products on retail shelves. Manufactures are offering convenient and easy-to-use packaging for their spreads to ensure consumer convenience.
They are using a wide range of packaging formats, which include cans, jars, spout tubes, squeeze pouches, and others to provide consumers with easy, versatile, and flexible packaging solutions. Besides this, manufacturers are adopting packaging solutions, which help them extend the shelf life of the spreads even at extreme conditions and during longer distribution channels.
Some of the leading companies offering spreads are Nestlé SA, The Kraft Heinz Company, Conagra Brands, Inc., Pioneer Food Group Ltd, The Hershey Company, Strauss Group Ltd., The JM Smucker Company, Hormel Foods Corporation, General Mills Inc., Atlantic Grupa dd, Dr. Oetker GmbH, Ferrero SpA and others.
Explore FMI’s Extensive ongoing Coverage on Food and Beverage Domain
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Sugar-Free Gummy Market: The market is attributed to the widespread application of sugar-free gummy in the food industry and the pharmaceutical industry is witnessing an upsurge in demand since it is one of the most valuable nutritive sugar-free supplement available in the market.
Sugar-Free Gumballs Market: The market is attributed to the widespread application of sugar-free gumballs in the food industry and the pharmaceutical industry is witnessing an upsurge in demand since it is one of the most valuable sugar-free supplement available in the market.
Plant-Based Shrimp Market: Increasing health-related concerns regarding animal products or byproducts are a major driver for manufacturers of plant shrimp market.
Low Calorie Desserts Market: The market is attributed to the widespread application of low calorie desserts in the food industry and particularly in confectionary industry is witnessing an upsurge in demand since it is one of the most valuable sugar-free substitutes available in the market.
High Ratio Shortening Market: High ratio shortening market is gaining massive incremental opportunities on the back of increasing demand for emulsification and icing across the food & beverage industry.
Food Grade Sodium Hypochlorite Market: The sodium hypochlorite market is estimated to suggestively increase due to swift growth in end-user productions such as water treatment, and agriculture.
Food Grade Silica Market: Rising concern regarding caking, powder products free flow ability, increased production time and reduced production speed is expected to grow food grade silica market over the forecast period.
Egg-Free Dressing Market: Growing health consciousness is driving customer attention in favor of plant-based diets that not only aid weight control but include the essential fibers and nutrients.
RTD Cocktails Market: According to latest research by Future Market Insights, RTD Cocktails market will grow at a moderate rate during 2021-2031.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, US and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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