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.
