Jan 16, 2020 (Xherald via COMTEX) —
Global Nut Based Spread Market research provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Research classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Global nut-based spread market is projected to register a CAGR of 7% during the forecast period, 2019 to 2024.
– Nut-based spreads are finding an increased consumption among the consumers, owing to the nutritional benefits of the spreads, the different mouthfeel from normal spreads, etc.
– Peanut butter allergies have led to the decline in the peanut butter market and hence led to the increase in consumption of other nut-based spreads.
– Almond holds a larger share among the nut-based spreads followed by hazelnut spreads.
– There is a great scope for innovation in the market majorly the blending of flavors.
– Apart from the well-established brands, various small players are also entering the market with a wide product portfolio.
Market competition by Top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the Top players including-
The J.M. Smucker Company, The Kraft Heinz Company, Hormel Foods Corporation, Conagra Foods Inc., Ferrero International, Nestle SA, The Hershey Company
Hazelnut Spreads Is The Fastest Growing Segment
Hazelnut spreads is the second largest segment with only almond spreads ahead of it. Hazelnut also contributes to the chocolate and other nut-based spreads. Consumers seeking for various healthy options of spreads are also boosting the hazelnut market. The consumers who follow a plant-based diet are the major users of nut based spreads. The major players are making use of this opportunity to produce protein-rich spreads from plant sources. The high sugar content of the hazelnut chocolate spreads has negatively impacted the market as the consumers are becoming more health conscious and are looking for low sugar substitutes.
North America is the Largest Market For Spreads
North American spreads market is a well-established market and the production of nut-based spreads in the region is self-sufficient. Nut-based spreads were established in the North American market at the initial stages of the product introduction and is a part of the American breakfast. The United States is the largest market in North America and accounts for around 30% of the region’s share. Increasing demand for low-fat spreads is a major factor driving the nut-based spreads in North America. Major brands such as Nutella are dominating the market and coming up with various innovations such as spreads made with natural ingredients i.e. free from additives like artificial sugars, gelling agents, etc.
Market segment by Regions/Countries, this report coversNorth America (U.S., Canada, Mexico)
Global (Germany, UK, France, Rest of Global)
Asia Pacific (China, India, Japan, Rest of Asia Pacific)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East & Africa
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-Nut Based Spread Market Overview, Segment by Type (Product Category), by Application, by Region (2020-2025), Competition by Manufacturers
-Global Market Size (Value) of Nut Based Spread (2020-2025)
-Global Nut Based Spread Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2020-2015)
-Global Nut Based Spread Production, Revenue (Value), Price Trend by Type
-Global Nut Based Spread Market Analysis by Application
-Global Nut Based Spread Manufacturers Profiles/Analysis
-Nut Based Spread Manufacturing Cost Analysis
-Industrial Chain, Sourcing Strategy and Downstream Buyers
-Marketing Strategy Analysis, Distributors/Traders
-Market Effect Factors Analysis
-Global Nut Based Spread Market Forecast (2020-2025)
-Research Findings and Conclusion
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Finally, this Nut Based Spread report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Nut Based Spread product development and gives an outline of the potential Global market.
Irfan Tamboli (Sales)
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