Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | Europe |
| CAGR: | 1.81 % |
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Market Overview
The global chocolate based spreads market is projected to grow at a CAGR of 1.81% during the forecast period.
- Increased consumption of chocolate-based spreads as a part of the breakfast meal is fuelling market growth. Consumers are gaining awareness about the favorable health effects associated with the consumption of dark chocolates, thereby becoming another factor supplementing the market growth.
- Also, rising demand for ready to eat products owing to hectic and changing lifestyles have promoted the adoption of readymade chocolate spreads.
Scope of the Report
The chocolate-based spreads market is segmented by distribution channel as supermarkets/hypermarkets, convenience stores, online stores, specialist stores, others; and by geography.
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Online Retail Stores | |
| Specialist Stores | |
| Others |
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Key Market Trends
Increasing Demand for Snacks including Packaged Foods
Snacking has become a major trend across regions as it not only provides energy for activities throughout the day but also provides valuable nutrients, such as proteins, minerals, vitamins, and fiber. People consuming healthy snacks can also decrease their hunger while keeping them from overeating at meal time. Snackification has become a new trend among consumers who prefer ‘on-the-go’ foods due to a hectic lifestyle. Hence, it becomes necessary for individuals to opt for food products such as chocolate-based spreads for extra nutrients and energy. Such factors, in turn, are leading to the increased popularity of chocolate-based spreads through the evolving retail landscape, coupled with the developing food service sector.
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Asia-Pacific Held Largest Market Revenue
The Asia-Pacific held the largest share of the global industry revenues in 2018. Australia holds the largest share in the chocolate spread market as the chocolate spread is largely consumed among other food spreads in the country. Changing lifestyles and breakfast patterns have significantly impacted the chocolate spread sales in the region. Market players are finding key opportunities to introduce chocolate spreads into China’s larger markets by targeting imported food stores. Also, the adoption of Western culture and foods have replaced traditional foods with bread and toasts, thus, increasing the demand for spreads.
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Competitive Landscape
Ferrero, The Hershey Company, Nestlé, and Dr. Oetker are some of the companies leading the chocolate-based spreads market. New product launches, market expansions, and acquisitions are the preferred strategic approaches adopted by most companies involved in the chocolate spread business. The players are also innovating new products in terms of flavors. For example, Hershey’s Spreads come in three flavors, namely, chocolate, chocolate with almond, and chocolate with hazelnut, which were launched in 2013. Therefore, new product launches are inferred to be the most preferred activities by market leaders.
Major Players
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Distribution Channel
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5.1.1 Supermarkets/Hypermarkets
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5.1.2 Convenience Stores
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5.1.3 Online Retail Stores
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5.1.4 Specialist Stores
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5.1.5 Others
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5.2 Geography
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5.2.1 North America
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5.2.1.1 United States
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5.2.1.2 Canada
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5.2.1.3 Mexico
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5.2.1.4 Rest of North America
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5.2.2 Europe
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5.2.2.1 Spain
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5.2.2.2 United Kingdom
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5.2.2.3 Germany
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5.2.2.4 France
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5.2.2.5 Italy
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5.2.2.6 Russia
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5.2.2.7 Rest of Europe
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5.2.3 Asia Pacific
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5.2.3.1 China
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5.2.3.2 Japan
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5.2.3.3 India
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5.2.3.4 Australia
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5.2.3.5 Rest of Asia-Pacific
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5.2.4 South America
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5.2.4.1 Brazil
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5.2.4.2 Argentina
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5.2.4.3 Rest of South America
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5.2.5 Middle East and Africa
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5.2.5.1 South Africa
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5.2.5.2 United Arab Emirates
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5.2.5.3 Rest of Middle East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Share Analysis
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6.4 Company Profiles
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6.4.1 Ferrero
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6.4.2 The Hershey Company
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6.4.3 Nestle
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6.4.4 Dr. Oetker
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6.4.5 The J.M. Smucker Company
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6.4.6 Gruppo Nutkao
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6.4.7 Barefoot & Chocolate
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6.4.8 Mondelz International
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6.4.9 Nutiva Inc.
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Chocolate Based Spreads Market market is studied from 2016 - 2026.
What is the growth rate of Chocolate Based Spreads Market?
The Chocolate Based Spreads Market is growing at a CAGR of 1.81% over the next 5 years.
Which region has highest growth rate in Chocolate Based Spreads Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Chocolate Based Spreads Market?
Europe holds highest share in 2020.
Who are the key players in Chocolate Based Spreads Market?
Ferrero, The Hershey Company, Nestlé, Dr. Oetker, The J.M. Smucker Company are the major companies operating in Chocolate Based Spreads Market.
