The global Nut based Spreads Market size was evaluated to be USD 7.51 billion in 2021 and is predicted to reach USD 11.5 billion by the end of 2027, by garnering a CAGR of about 7% over the projection time.
Nut-based spreads are finding an expanded utilization among the customers, attributable to the nourishing advantages of the spreads, the diverse mouth-feel from ordinary spreads, and so on. Nutty spread sensitivities have prompted the decrease in the peanut spread market and thus prompted the expansion in the utilization of other nut-based spreads.
Almond holds a bigger part among the nut-based spreads followed by hazelnut spreads. There is an incredible breadth for improvement in the market, significantly the mixing of flavors. Aside from the entrenched brands, different little players are likewise entering the market with a wide item portfolio.
Hazelnut spreads are the second biggest fragment with just almond spreads in front of it. Hazelnut additionally adds to the chocolate and other nut-based spreads. Buyers looking for different solid choices of spreads are additionally boosting the hazelnut market. The purchasers who follow plant-based weight control plans are the significant clients of nut-based spreads. The significant players are using this chance to deliver protein-rich spreads from plant sources. The high sugar substance of the hazelnut chocolate spreads has negatively affected the market as the buyers are turning out to be more well-being cognizant and are searching for low sugar substitutes.
The North American spreads business is an entrenched market and the production of nut-based spreads in the locale is independent. Nut based spreads are typical in the North American market with numerous products in the marketplace and usage as a part of breakfast. The US is the biggest market in North America and records for around 30% of the locale's offer. Expanding interest for low-fat spreads is the main consideration driving the nut-based spreads in North America. Significant brands, for example, Nutella are overwhelming the market and concocting different developments, for example, spreads made with natural ingredients for example liberated from added substances like fake sugars, gelling operators and so on.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2021 – 2027 |
|
Base Year |
2021 |
|
Forecast Period |
2022 - 2027 |
|
CAGR |
7% |
|
Segments Covered |
By Product Type and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
J.M. Smucker, Kraft Foods, Unilever Group, ConAgra Foods Inc, Sioux Honey Association, B & G Foods, Ferrero Group, Nestle, Hershey Co, Welch Foods Inc and Others. |
As an ever-increasing number of shoppers change from conventional jam and jam to nut-based spreads for breakfast, the global nut-based spreads market is foreseen to develop at a generous pace. Nut-based spreads are used with staple foods in Western diets, which however, is now rapidly expanding to the areas of eastern and central parts of the world. The rising admission of nut-based spreads in East Asian nations has helped the worldwide deals of nut-based spreads. Peanuts and nutty spread spreads are progressively devoured by veggie lovers and vegans attributable to their high plant-based protein content. The developing prominence of nut-based spreads among the rising veggie lover and vegetarian purchaser base in the west has enlarged the utilization of nut-based spreads. With expanding customer interest for low-fat nut-based spreads, producers have presented low-fat nut put together spreads low with respect to calories to take into account the fragment of calorie cognizant shopper base. The presentation of low-fat nut spreads is anticipated to invigorate the development of the nut-based spreads much further.
Growing populace and worldwide appropriation of bread and English breakfast expanded the use of Nut Based Spreads all around. With expanded interest for scrumptious yet healthy products, the nut-based spreads market seems promising. With every one of these components' positive impact, the global nut-based spreads market is relied upon to hit 6.8 billion USD deals in the figure time frame.
Geologically, the market is investigated in North America, Europe, Asia-Pacific, and the Rest of the World. North America held the biggest piece of the overall industry in the global nut-based spreads showcase in 2018. This is ascribed to an entrenched market for spreads, for example, sticks and margarine with the nearness of significant brands, for example, Nutella, in the locale. Further, Europe and Asia-Pacific are relied upon to follow North America as far as income expansion over the estimated time frame. In addition, the market is portrayed by the nearness of a few players working in the market over the globe.
Asia-Pacific is relied upon to show noteworthy development during the anticipated time. The development is ascribed to the huge populace base combined with the quickly extending food and refreshment industry in the area. Additionally, the expanding pattern of packaged foods further makes the interest in nut-based spreads across Asian nations. Expanding interest for hazelnut low-fat spreads is enlarging the development of the Asia-Pacific nut-based spreads market over the conjecture time frame.
The global nut-based spread market is an exceptionally developing industry with a few significant players holding over 60% of the pie. JM Smucker's, Kraft Foods Group, ConAgra Foods Inc., and Hormel Foods Corporation rule this market. Aside from the significant players, there are numerous different players contending in the market.
Key Players in the Market:
Major Key Players in the Global Nut based Spreads Market are
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product Type
5.1.1 Introduction
5.1.2 Peanut Based Spreads
5.1.3 Almond Based Spreads
5.1.4 Walnut Based Spreads
5.1.5 Cashews Based Spreads
5.1.6 Others
5.1.7 Y-o-Y Growth Analysis, By Product Type
5.1.7 Market Attractiveness Analysis, By Product Type
5.1.8 Market Share Analysis, By Product Type
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product Type
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product Type
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product Type
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 J.M. Smucker
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Kraft Foods
8.3 Unilever Group
8.4 ConAgra Foods Inc.
8.5 Sioux Honey Association
8.6 B & G Foods
8.7 Ferrero Group
8.8 Nestle
8.9 Hershey Co
8.10 Welch Foods Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
FAQ's
The global Nut based Spreads Market size was evaluated to be USD 7.51 billion in 2021 and is predicted to reach USD 11.5 billion by the end of 2027.
The worldwide nut-based spreads market is expected to grow with a CAGR of 7% over the projected period.
Nuts such as Peanut, Walnut, Almond and Cashews are used to make Nut Based Spreads.
North America accounts as the largest shareholder of the Nut Based Spreads Market.
Growing population and increasing demand of food and refreshment industry is facilitating market growth.
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