Annual Sweet and Savoury Spreads Market Overview - International - 2014
This global annual market overview will provide you with an in-depth review of the key issues in the global sweet and savoury spreads market through 2013 as well as our forecast for what will happen in 2014 and beyond.
The $17 billion global sweet spreads market grew by an estimated 5% in 2013. This growth has largely come from a mix of price inflation and increased consumption, particularly in developing markets. Whilst as might be expected, the majority of the fastest growing markets come from Asia, in 2012 the world’s largest sweet spread market, the US, was also at the forefront of market growth. However, the sweet spread markets of North America are relatively unique as consumption is heavily skewed towards nut butters rather than fruit spreads.
The 2012, US market performance was heavily influenced by high costs for runner peanuts whose pricing more than doubled between January 2011 and January 2012, before dropping back again in 2013.
Elsewhere in the world, sweet spreads are dominated either by fruit-based spreads in Europe, Latin America and the Indo-Western parts of Asia, or by honey in Chinese influenced markets.
Emerging markets offer exciting growth prospects, as sweet spreads are seen as an affordable indulgence by the rising middle classes. As such, we see strong growth in markets such as Vietnam and China, whilst Brazil is one of the most active countries for new product introductions. One potential concern for future growth is the increased awareness of sugar related health issues. In many developing markets, diabetes is a significant health issue, and increased focus is being put on low sugar launches.
Savoury spread innovations remain largely focussed in mature western markets, which account for more than three quarters of all activity in 2013. This category remains highly fragmented served at a range of artisan suppliers, as can be seen by the fact that retailers account for the top 5 most active companies in the category in terms of launch activity. The market is continuing its move towards chilled spreads, with hummus being the most launched savoury spread flavour variety globally.
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