US Food Spread Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 1.87 % |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
US Food Spread Market Analysis
The US Food Spread Market is projected to witness a CAGR of 7.87% over the next five years.
The growing customer demand to substitute healthier spreads like peanut-based spreads for jam or butter is driving food spreads in the United States. Additionally, spreads like peanut flavored have become the most popular item and are widely used in the region due to their lower cost compared to substitutes like almond-based spreads. Jams and other substitutes may have some advantages, but they include a lot of sugar, which may lead to weight gain, cavities, heart disease, and type 2 diabetes. Thus, the market has also been driven for a few years by customers' growing health consciousness. For instance, according to the Harris poll report, last year, around 15% of adults in the United States reported having at least two chronic medical conditions, while only around 11% of older millennials reported the same. Also, around 11%, 7%, 5%, and 3% of people in the United States are suffering from mental health, cancer, obesity, and diabetes this year, according to the survey conducted by Research! America.
Additionally, consumers are concentrating on low-calorie diets due to the prevalence of lifestyle-related disorders. From 2020 to 2050, the percentage of health spending in the United States devoted to overweight and related disorders is expected to reach 14%, according to the Organization for Economic Co-Operation and Development (OECD) research. Additionally, governments have implemented policies to limit sugar intake, including front-of-package warning labels, which are anticipated to encourage the adoption of low-calorie items like nut spreads in the country.
US Food Spread Market Trends
Growing Preference for Healthy Breakfasts Coupled with Inclination Toward Plant-based Food Spreads
Consumers in the country are also being persuaded to include natural/plant-based spreads like nut based-spreads or honey, in their typical breakfasts due to the nutritious content and health-promoting components in them. The 2020-2025 Dietary Guidelines for Americans recommend avoiding butter, shortening, coconut oil, and palm oil in favor of cooking with oils richer in polyunsaturated and monounsaturated fat. Scientific research demonstrates that when good fats are substituted for harmful fats in our diets, both the risk of cardiovascular disease and inflammation is reduced. Additionally, according to the Nutrient Database of the United States Department of Agriculture, peanuts are a good source of fiber. In accordance with the 2020-2025 Dietary Guidelines, fiber makes up more than a third of the carbs in peanuts. Other features that boost a product's attractiveness to a wider consumer base include softness, spreadability, and appealing flavors.
Furthermore, the demand for plant-based foods among consumers is driving faster growth in the market for plant-based spreads globally. Furthermore, consumer awareness of allergies, hormones, and unethical animal husbandry practices utilized in the dairy industry has led to an increase in the popularity of veganism and a shift towards dairy-free spreads. Customers who are interested in fitness and weight loss as well as the vegan community view plant-based as a wonderful protein substitute, offering a large market opportunity for peanut butter as they are more practical and adaptable than dairy-based spreads.
Nut-based Spreads is the Fastest-growing Market Segment
The market for nut-based spreads in the United States is well-established, and the region is self-sufficient in terms of nut-based spread production. During the early phases of the product introduction, nut-based spreads were established in the North American market and are a staple of the American breakfast. The several uses for nut spread like peanut, both as a healthful snack and an ingredient in food and beverage items, as well as the growing knowledge of its advantages among American consumers, have been a major factor in sharply speeding its rise. The source of protein is more in the spotlight as high-protein foods become more popular. Also, due to the growing middle-class population and the number of millennials, these products are becoming popular due to their health advantages.
Sugar reduction, nutritious eating, and an increase in the amount of protein and fiber in food are the three main trends influencing the North American market. Consumers in the United States currently favor high-quality goods without artificial additives and those that make nutritional claims. This mandate is motivating vendors to implement healthier and indulgent options in the area. The establishment of nutritious food spreads in the area is also influenced by government initiatives. As a result, the demand for a nut-based spread is anticipated to soar throughout the forecast period.
US Food Spread Industry Overview
The J.M. Smucker Company, Ferrero International (Nutella), Sioux Honey Association Co-op, Conagra Brands Inc., Unilever PLC, and The Hershey Company are some of the major players in the US market. These companies provide a range of food spreads, including natural and conventional choices for consumers. Mergers and acquisitions between companies are helping the market to grow at a faster rate. Product innovations and increasing demand for vegan spreads are one of the drivers for the market. Market players are focused on consumer demand, innovating products by considering the food trends and changing the food habits of consumers.
US Food Spread Market Leaders
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The J.M. Smucker Company
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Sioux Honey Association Co-op
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Unilever PLC
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Ferrero International S.A.
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Conagra Brands Inc.
*Disclaimer: Major Players sorted in no particular order
US Food Spread Market News
Feb 2023: Bonne Maman, a premium preserve and jelly brand, launched a hazelnut chocolate spread in the United States. According to the company, the hazelnut chocolate spread is made with no artificial ingredients or palm oil and has a creamy and smooth texture.
Aug 2022: The Iceland-based company, Good Good, launched a peanut-based spread in the United States. According to the company, the product comes in creamy and crunchy varieties, is 99% sugar-free, and is made using dietary fibers from chicory root.
Mar 2022: B&G Foods launched "Cinnamon Toast Crunch," a cinnamon spread. As per the company, the product combines cinnamon and sugar with sweet notes of vanilla, caramel, and graham used for baked goods, toast, coffee, pastries, ice cream, and other products.
US Food Spread Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Nut- and Seed-based Spread
5.1.2 Fruit-based Spread
5.1.3 Honey
5.1.4 Chocolate-based Spread
5.1.5 Others
5.2 Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience Stores
5.2.3 Specialist Retailers
5.2.4 Online Retail Stores
5.2.5 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 The J.M. Smucker Company
6.3.2 Unilever PLC
6.3.3 Ferrero International S.A
6.3.4 Sioux Honey Association Co-op
6.3.5 Conagra Brands Inc.
6.3.6 Hormel Foods Corporation
6.3.7 The Hershey Company
6.3.8 Nestle S.A.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
US Food Spread Industry Segmentation
A spread is a food that is spread, generally with a knife, onto foods such as bread and crackers. Spreads are added to food to enhance the flavor or texture of the food.
The US Food Spread Market is segmented by Product Type (Nut- and Seed-based Spread, Fruit-based Spread, Honey, Chocolate-based Spread, and Other Product Types) and Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialist Retailers, Online Retail Stores, and Other Distribution Channels). The market sizing has been done in value terms in USD for all the abovementioned segments.
| Product Type | |
| Nut- and Seed-based Spread | |
| Fruit-based Spread | |
| Honey | |
| Chocolate-based Spread | |
| Others |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Specialist Retailers | |
| Online Retail Stores | |
| Other Distribution Channels |
US Food Spread Market Research FAQs
What is the current United States Food Spread Market size?
The United States Food Spread Market is projected to register a CAGR of 1.87% during the forecast period (2024-2029)
Who are the key players in United States Food Spread Market?
The J.M. Smucker Company, Sioux Honey Association Co-op, Unilever PLC, Ferrero International S.A. and Conagra Brands Inc. are the major companies operating in the United States Food Spread Market.
What years does this United States Food Spread Market cover?
The report covers the United States Food Spread Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Food Spread Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
US Food Spread Industry Report
Statistics for the 2024 US Food Spread market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. US Food Spread analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
