Spreads Market To Reach $92.68 Billion By 2030 | CAGR: 4.6%

Spreads Market Growth & Trends

The global spreads market size is expected to reach USD 92.68 billion by 2030, registering to grow at a CAGR of 4.6% from 2024 to 2030 according to a new report by Grand View Research, Inc. Use of these products in the western countries as an essential breakfast ingredient is fueling the growth of the market. Increasing demand for natural and healthy spreads and consumer preferences for artisan bakery products are further accelerating the growth of the food spread market across the globe.

Consumer inclination towards a healthy lifestyle is increasing the demand for healthy and low calorie spreads. Traditional sweet pastes have artificial sweeteners and flavors, which leads to long term health issues. Companies are launching new products with clean labels by using natural and healthy ingredients to provide the consumers a healthy alternative. For instance, a healthy version of Nutella made up of white chocolate has been launched in Lidl with added protein and no palm oil. Unilever updated its butter range by introducing natural products with plant based oil, water, salt, and no artificial ingredients.

In 2023, fruit spreads was the largest product type, accounting for more than 30.0% share of the global revenue. The market for fruit spreads has different varieties available in terms of flavor and texture. For instance, the preserves range of Smucker’s comprises pieces of fruits and seeds and has unique flavors such as peach mango, boysenberry, apricot-pineapple, and blueberry.

The industry is dominated by leading players such as Andros Group, Ferrero, Hero, The Hershey Company, Hormel Foods, JM Smucker, B&G Foods, Bernard Michaud, Capilano Honey, and Centura Foods. Product expansion, mergers and acquisitions, and product innovation are the popular strategic initiatives taken by companies. For instance, JM Smucker launched honey and fruit pastes with natural ingredients in order to expand its product range.

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Spreads Market Report Highlights

• Fruit spreads held the largest revenue share of 32.6 % in 2023. Fruit spreads are most popular among all the other segments in market as these are consumed with variety of bakery products across the world.

• The hypermarket and supermarket segment dominated the market with the largest revenue share of 31.6 % in 2023. Consumers prefer purchasing food items from supermarkets as they can check the product in person which play an important role in decision.

• North America spreads market held the largest revenue share of 35.1% in 2023. The popularity of fast-food items such as sandwiches and burgers in the region is driving the market.

Spreads Market Segmentation

Grand View Research has segmented the global spreads market based on product, distribution channel, and region:

Spreads Product Outlook (Revenue, USD Million, 2020 - 2030)

• Butter/Cheese

• Fruit Spreads

• Chocolates & Nuts

• Others

Spreads Distribution Channel Outlook (Revenue, USD Million, 2020 - 2030)

• Supermarkets And Hypermarkets

• Convenience Store

• Specialty Stores

• Online

• Others

Spreads Regional Outlook (Revenue, USD Million, 2020 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • South Africa

List of Key Players in Spreads Market

• Hormel Foods Corporation

• The J.M. Smucker Company

• B&G Foods, Inc.

• Ventura Foods

• Capilano Honey Ltd.

• The HERSHEY Company

• Ferrero

• Hero

• Andros Group

• The Kraft Heinz Company.