Global Chocolate based Spreads Market - Growth, Trends, and Forecast (2022 - 2030)
Market Insights
The chocolate-based spreads market is anticipated to register CAGR of 1.88%, during the forecast period (2018-2023). The chocolate based spreads market is highly competitive with private label products competing with global prominent brands, in terms of pricing and product innovation.
On-going trend for Snackification – Driving the Market growth
Snacking has been a major trend across regions as snack provides energy for activities throughout the day and provides valuable nutrients, such as protein, minerals, vitamins, and fiber. The increasing trend for snackification is fueling the growth of chocolate based spreads market during the forecast period. The availability of regional products at a convenient price is creating competition in the market. Rise in consumer preferences for artisan bakery products has been a driving factor for chocolate based spread market. Chocolate based spreads are facing weakening demand due to growing health consciousness among consumers. As a result, Cocoa prices have hit a four-year low in 2017 due to an abundant supply and low demand.
Asia-Pacific to witness highest growth during the Forecast Period
The chocolates based spread market in the European region is dominated by increased consumption of chocolate spreads in most Western European countries, particularly Germany, France, Italy, and the United Kingdom (U.K.). However, chocolate spreads are not as popular in the Scandinavian countries, Portugal and Ireland. The North American market for chocolate spreads is well established, and because of regions self-sufficient production capabilities. Asia-Pacific region is anticipated to exhibit highest growth rate of 4.62% during the forecast period, owing to increasing preference of chocolate based spread and its delectable taste.
Key Developments
• February 2017 - J.M. Smucker planned to build its manufacturing unit in Colorado City, for spreads and jelly sandwich.
Major players - BAREFOOT & CHOCOLATE, DR OTEKER, FERRERO GROUP, HERSHEY CO., HORMEL, J.M. SMUCKER COMPANY, NATURE FOOD COMPANY (NUTRI LIGHT), NESTLE, NUTKAO S.R.L, THE HAIN CELESTIAL GROUP, among others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
• Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
The chocolate-based spreads market is anticipated to register CAGR of 1.88%, during the forecast period (2018-2023). The chocolate based spreads market is highly competitive with private label products competing with global prominent brands, in terms of pricing and product innovation.
On-going trend for Snackification – Driving the Market growth
Snacking has been a major trend across regions as snack provides energy for activities throughout the day and provides valuable nutrients, such as protein, minerals, vitamins, and fiber. The increasing trend for snackification is fueling the growth of chocolate based spreads market during the forecast period. The availability of regional products at a convenient price is creating competition in the market. Rise in consumer preferences for artisan bakery products has been a driving factor for chocolate based spread market. Chocolate based spreads are facing weakening demand due to growing health consciousness among consumers. As a result, Cocoa prices have hit a four-year low in 2017 due to an abundant supply and low demand.
Asia-Pacific to witness highest growth during the Forecast Period
The chocolates based spread market in the European region is dominated by increased consumption of chocolate spreads in most Western European countries, particularly Germany, France, Italy, and the United Kingdom (U.K.). However, chocolate spreads are not as popular in the Scandinavian countries, Portugal and Ireland. The North American market for chocolate spreads is well established, and because of regions self-sufficient production capabilities. Asia-Pacific region is anticipated to exhibit highest growth rate of 4.62% during the forecast period, owing to increasing preference of chocolate based spread and its delectable taste.
Key Developments
• February 2017 - J.M. Smucker planned to build its manufacturing unit in Colorado City, for spreads and jelly sandwich.
Major players - BAREFOOT & CHOCOLATE, DR OTEKER, FERRERO GROUP, HERSHEY CO., HORMEL, J.M. SMUCKER COMPANY, NATURE FOOD COMPANY (NUTRI LIGHT), NESTLE, NUTKAO S.R.L, THE HAIN CELESTIAL GROUP, among others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
• Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Frequently Asked Questions
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