Portland, OR, Nov. 10, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global sweet spread market generated $1.20 billion in 2020, and is expected to garner $1.64 billion by 2030, witnessing a CAGR of 3.2% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Surge in demand for meal replacement food products, rise in adoption of vegan diets, and demand for clean-label convenience food drive the growth of the global sweet spread market. However, rise in consumer concerns overuse of preservatives hinders the market growth. On the other hand, demand for functional spreads and increase in prominence of novel spreads present new opportunities in the coming years.
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Covid-19 Scenario:
- During the Covid-19 pandemic, consumers became more conscious about their health & immunity than before. So, they preferred food to maintain their wellness. As sweet spread products contain, magnesium, iron, and proteins, there had been a major demand for these products.
- Owing to lockdown measures, there had been disruptions in the food & beverages industry. This led to disruptions in manufacturing and distribution activities. This created a huge supply-demand gap. However, this gap is expected to reduce post-lockdown.
The report offers detailed segmentation of the global sweet spread market based on product type, packaging, distribution channel, and region.
Based on product type, the jam jelly & preserves segment contributed to the largest share in 2020, holding nearly half of the total share, and is expected to continue its lead position during the forecast period. However, the nut butter segment is projected to manifest the highest CAGR of 3.8% from 2021 to 2030.
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Based on distribution channel, the supermarket & hypermarket segment held the highest share in 2020, accounting for nearly half of the total share of the global sweet spread market, and is estimated to continue its dominant share during the forecast period. However, the online retail segment is projected to portray the fastest CAGR of 3.9% from 2021 to 2030.
Based on region, Europe accounted for the highest share in 2020, holding more than two-fifths of the total market share, and is expected to continue its leadership status by 2030. However, Asia-Pacific is expected to register the fastest CAGR of 3.7% during the forecast period.
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Leading players of the global sweet spread market analyzed in the research include ConAgra Foods Inc., Pioneer Foods, Duerr & Sons, Ferrero Group, Unilever Group, Dabur India Limited, Mondelez International, Andros, Hormel Foods, and HERSHEY’S.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
