Market Size of Europe Nut-Based Spreads Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.22 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Nut-Based Spreads Market Analysis
Europe nut-based spreads market is projected to register a CAGR of 6.22 % during the forecast period, 2022-2027.
The market for nut-based spread is rising as customer preferences for convenience goods have grown along with a development in health and wellness awareness that has led to a preference for plant-based and dairy-free food concepts. Due to the presence of beneficial nutrients such as essential fatty acids, high protein, and carbohydrates, more and more consumers are switching from traditional jam and preserves to nut-based spreads for breakfast. To cater to the segment of the consumer base that is calorie-concerned, manufacturers have introduced low-fat, less sugar, nut-based spreads with very few calories. For instance, in February 2020, Whole Earth Ltd released Hazelnut and Chocolate peanut butter, made without any refined sugar and simply sweetened with dates, the limited edition spread has 80% less sugar than the standard chocolate spread.
Moreover, European people started living healthier lifestyles during post covid epidemic and became more aware of their health. As a result, consumers are increasingly consuming products made from hazelnuts, which are associated with a lower risk of getting heart disease. Hence, owing to changing consumer preferences the nut-based spread market will register further growth.
Europe Nut-Based Spreads Industry Segmentation
Nut-based spread is a food spread made from different nuts such as cashews, peanuts, almonds, and hazelnuts. Nut-based spreads can be crunchy or creamy and come in various flavors. The Europe nut-based spreads market (henceforth referred to as the market studied) is segmented by product type, distribution channel, and geography. By product type, the market is segmented into peanut-based spreads, hazelnut-based spreads, almond-based spreads, walnut-based spreads, and other product types. Based on distribution channels, the market is bifurcated into hypermarkets/supermarkets, convenience stores, online retail, and other channels. It provides an analysis of emerging and established economies in Europe comprising Spain, the United Kingdom, Germany, France, Italy, Russia, and the Rest of Europe. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| By Product Type | |
| Peanut Based Spreads | |
| Hazelnut Based Spreads | |
| Almond Based Spreads | |
| Walnut Based Spreads | |
| Others |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |
| Spain | |
| United Kingdom | |
| Germany | |
| France | |
| Italy | |
| Russia | |
| Rest of Europe |
Europe Nut-Based Spreads Market Size Summary
The European nut-based spreads market is experiencing significant growth, driven by a shift in consumer preferences towards convenience and health-conscious food options. As awareness of health and wellness increases, there is a growing demand for plant-based and dairy-free alternatives, with nut-based spreads gaining popularity over traditional jams and preserves. These spreads are favored for their nutritional benefits, including essential fatty acids, high protein, and carbohydrates, making them an attractive choice for breakfast. Manufacturers are responding to this trend by introducing products with reduced fat and sugar content to appeal to calorie-conscious consumers. The post-COVID-19 lifestyle changes have further accelerated this trend, with consumers increasingly opting for products like hazelnut spreads, which are associated with heart health benefits.
The market is characterized by intense competition, with numerous national and international players offering a diverse range of nut-based spreads. Key brands are focusing on product innovation and strategic partnerships to enhance their market presence. The introduction of unique flavors and ingredients, such as Ashwagandha and various seeds, has contributed to the segment's growth, particularly in the UK, where nut-based spreads are becoming a popular on-the-go option. Companies like Meridian Foods and Pip & Nut are leading the charge with innovative offerings that emphasize natural ingredients and sustainability. The market's competitive landscape is further strengthened by the presence of major players like SHS Group, The Hershey Company, and Unilever PLC, who are expanding their distribution channels to meet the rising consumer demand for nut-based spreads.
Europe Nut-Based Spreads Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Peanut Based Spreads
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2.1.2 Hazelnut Based Spreads
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2.1.3 Almond Based Spreads
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2.1.4 Walnut Based Spreads
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2.1.5 Others
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2.2 By Distribution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Convenience Stores
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2.2.3 Online Retail Stores
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2.2.4 Other Distribution Channels
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2.3 Geography
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2.3.1 Spain
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2.3.2 United Kingdom
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2.3.3 Germany
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2.3.4 France
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2.3.5 Italy
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2.3.6 Russia
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2.3.7 Rest of Europe
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Europe Nut-Based Spreads Market Size FAQs
What is the current Europe Nut-Based Spreads Market size?
The Europe Nut-Based Spreads Market is projected to register a CAGR of 6.22% during the forecast period (2024-2029)
Who are the key players in Europe Nut-Based Spreads Market?
The Hershey Company, Unilever PLC , SHS Group, PIP & NUT LTD. and The Hain Celestial Group, Inc. are the major companies operating in the Europe Nut-Based Spreads Market.
