Market Share of Sweet Spread Industry
J.M. Smucker, Kraft Foods, Ferrero SpA, and ConAgra Foods Inc. are the key players in the sweet spread market. Expansion of their facilities and product portfolio is the major strategy of these companies. Companies are focussing on producing healthy and innovative products, which is encouraging sweet spread manufacturers to manufacture quality products, as well. Owing to the high consumption of sweet spread products in the global market, new product launch with varied taste, flavor, and combination is adopted by leading companies. For instance, in June 2022, Challenge Butter, a US farmer-owned butter brand, launched snack spreads. The company claims that it is made with real butter and no added artificial flavors, which are available in dessert and seasoned varieties such as Salted Caramel Dessert Snack Spread, Chocolate Dessert Snack Spread, Vanilla Fudge Dessert Snack Spread, Everything Seasoned Snack Spread, Garlic Parmesan, Buffalo Seasoned Snack Spread, and Herb Seasoned Snack Spread.
Sweet Spreads Market Leaders
The J.M. Smucker Company
The Kraft Heinz Company
Conagra Brands, Inc.
Ferrero International S.A.
Unilever PLC
*Disclaimer: Major Players sorted in no particular order
