Market Share of Food Spreads Industry
Unilever PLC, The Hershey Company, Ferrero International S.A. (Nutella), Conagra Brands Inc. (Dunken Hines), Hormel Foods LLC, and The J M Smucker Company (Jif, Smucker's) are some of the major players in the global 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. In April 2022, a Marico brand Saffola launched Saffola Peanut Butter. Jaggery substitutes refined sugar in Saffola Peanut Butter. It provides 31% of the RDA for protein and includes no refined sugar. It is available in two variants: "Crunchy' and "Creamy."
Food Spreads Market Leaders
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The J. M. Smucker Company
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Unilever PLC
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Ferrero International S.A.
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The Hershey Company
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Hormel Foods LLC
*Disclaimer: Major Players sorted in no particular order
