APAC Food Spreads Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.75 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Food Spreads Market Analysis
The Asia-Pacific food spread market is estimated to be valued at USD 4.6 billion by 2025, recording a CAGR of 2.75%, during the forecast period.
- Consumption trends pertaining to food spreads vary widely across regions and. Owing to the rapidly changing dynamics of food security, providing sufficient, safe, and nutritious food remains a serious challenge in the Asia-Pacific region.
- Owing to the diversity of the region, the food spread market has enjoyed significant growth. This growth can also be attributed to the rapid changes, in terms of economic development, in Asia-Pacific.
- Common convenience food products, like bread, which requires spreads and add-ons to increase the palatability, are driving the food spread market in Asia-Pacific.
APAC Food Spreads Market Trends
This section covers the major market trends shaping the APAC Food Spreads Market according to our research experts:
High Demand for Nut- and Seed-based Spreads
The popularity of peanut butter in the market has paved way for various nut-based butters, such as those based on almonds, cashews, walnuts, and hazelnuts. Nut-based butter and spreads have become popular products among consumers, because of the health benefits offered by these products and their ease of use as a breakfast accompaniments. Thus, there is a rising preference for nut-based spreads among the Japanese consumers. Although fruit-based spreads are leading the Japanese market, the nut-based spreads are expected to register healthy growth. Meanwhile, manufacturers are employing various methods to increase their shares in the Chinese food spread market. High consumption of peanut butter has been observed in Hong Kong and Taiwan, while in the Rest of China, the market for peanut butter is still a little weak.
China is the Largest Market Segment
Westernization, as a cultural movement, has augmented the demand for processed foods, in India and China. Additionally, there is an increased consumption of bread in the region, as bread is viewed as convenient and healthy. Hence, the food spread market in China is expected to benefit from this trend during the forecast period. China’s population is entering the middle-income group, as more of them are becoming employed. This is leading the consumers to prefer convenient food, and in turn, spending more on processed food. In China, the consumption of almond butter is increasing at a healthy rate, as it is mostly used in the preparation of several desserts. In addition, the manufacturers are employing various techniques to innovate their food spread products in the market.
APAC Food Spreads Industry Overview
New product launches, market expansions, partnerships, and acquisitions are the preferred strategic approaches adopted by most companies involved in the Asia-Pacific food spread market. Major players in the market are Cremica Agro Foods Limited, Ferrero Group, Unilever PLC, and The Hershey Company.
APAC Food Spreads Market Leaders
-
Cremica Agro Foods Limited
-
Ferrero Group
-
Unilever PLC
-
The Hershey Company
-
The J.M. Smucker Company
*Disclaimer: Major Players sorted in no particular order
APAC Food Spreads Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
- 3.1 Market Overview
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 Spreads
- 5.1.2 Fruit-based Spread
- 5.1.3 Honey
- 5.1.4 Chocolate-based Spread
- 5.1.5 Other Product Types
-
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
-
5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 Japan
- 5.3.1.3 India
- 5.3.1.4 Australia
- 5.3.1.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
-
6.4 Company Profiles
- 6.4.1 Cremica Agro Foods Limited
- 6.4.2 Ferrero Group
- 6.4.3 Podravka d.d.
- 6.4.4 Unilever PLC
- 6.4.5 The Hershey Company
- 6.4.6 Capilano Honey Ltd
- 6.4.7 Nestle SA
- 6.4.8 Sioux Honey Association
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
APAC Food Spreads Industry Segmentation
Scope of the market includes food spreads, segmented by product type as nut- and seed-based spreads, fruit-based spread, honey, chocolate-based spread, and other product types. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, specialist retailers, online retail stores, and other distribution channels. Additionally, the market is segmented by geography.
| Product Type | Nut- and Seed-based Spreads | |
| Fruit-based Spread | ||
| Honey | ||
| Chocolate-based Spread | ||
| Other Product Types | ||
| Distribution Channel | Supermarkets/Hypermarkets | |
| Convenience Stores | ||
| Specialist Retailers | ||
| Online Retail Stores | ||
| Other Distribution Channels | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| Rest of Asia-Pacific |
APAC Food Spreads Market Research FAQs
What is the current Asia-Pacific Food Spread Market size?
The Asia-Pacific Food Spread Market is projected to register a CAGR of 2.75% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Food Spread Market?
Cremica Agro Foods Limited, Ferrero Group, Unilever PLC, The Hershey Company and The J.M. Smucker Company are the major companies operating in the Asia-Pacific Food Spread Market.
What years does this Asia-Pacific Food Spread Market cover?
The report covers the Asia-Pacific Food Spread Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Food Spread Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Food Spread Industry Report
Statistics for the 2024 Asia-Pacific Food Spread market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Food Spread analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
