United States Food Spreads Market - Segmented by Type and Geography - Trends and Forecasts (2015 - 2020)
The United States Food spreads market is set to be of worth 3.42 billion USD by 2015 and is expected to witness a relatively stable growth despite the economic recession. Food spreads comprise of a variety of products like jams, jellies, fruit and nut based spreads, honey, syrup and chocolate-based spreads. The USA is a huge consumer of the sweet-based spreads. The consumption of food spreads is largely reliant on the bread consumption. The product is mostly consumed at the breakfast table or at other occasions, and is combined with whole-grain food products like bread, toast or bagels. This food spreads industry is highly competitive with private labels providing competition to the major brands in terms of product innovation as well as price. A decline in the traditional form of spreads has paved the way for increased developments in nut based/chocolate or fruit based spreads. An increasing number of individuals are growing health conscious, reducing their consumption of sweet spreads, and looking for low sugar/low fat alternatives in the form of natural/organic spreads with functional attributes. The rising health consciousness among consumers has given way to new low calorie spreads. To address the growing consumer trend towards healthy spreads, manufacturers are introducing new product lines in the economic segment, with healthy attributes. The chocolates spread market is worth more than XXX Million USD. The chocolate and nut based spread, are the fastest growing segment and are most popular among the younger population, it’s also witnessing an increased number of takers from the older population. Nutella, a market leader in the chocolate spread segment is facing competition in terms of pricing from the private label brands. The private label players are eating in to the retail share of branded products, with several private label players introducing competitively priced products in the organic/natural category and product lines aimed at children. The sales of nut-based spreads amounted to XXXX million USD in 2014 and is expected to grow at a CAGR of 3%. Jams and Preserves witnessed a growth rate of 2.7%. Nut based spreads are the most popular choice for food spreads with sales amounting to around XX% of the overall sales of Spreads Market. Chocolate spread is the second most popular choice for spreads with its sales rising by 27% in the last 4 years. The USA market is a pioneer in the production and consumption of various sweet and nut based spreads. The quick and lifestyle of convenience favored by most Americans helps in the high consumption levels of jams, marmalades, and other spreads. Over 40% of the US market is dominated by J.M. Smucker and Unilever Group. Key Deliverables in the Study • Market analysis for the Report title US food spread market, with region specific assessments and competition analysis on global and regional scales. • Market definition along with the identification of key drivers and restraints. • Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale. • Extensively researched competitive landscape section with profiles of major companies along with their market shares. • Identification and analysis of the macro and micro factors that affect the Report title US food spread market on both global and regional scales. • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. • A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market. • Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.