Market Size of United States Food Spread Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 1.87 % |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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US Food Spread Market Analysis
The US Food Spread Market is projected to witness a CAGR of 7.87% over the next five years.
The growing customer demand to substitute healthier spreads like peanut-based spreads for jam or butter is driving food spreads in the United States. Additionally, spreads like peanut flavored have become the most popular item and are widely used in the region due to their lower cost compared to substitutes like almond-based spreads. Jams and other substitutes may have some advantages, but they include a lot of sugar, which may lead to weight gain, cavities, heart disease, and type 2 diabetes. Thus, the market has also been driven for a few years by customers' growing health consciousness. For instance, according to the Harris poll report, last year, around 15% of adults in the United States reported having at least two chronic medical conditions, while only around 11% of older millennials reported the same. Also, around 11%, 7%, 5%, and 3% of people in the United States are suffering from mental health, cancer, obesity, and diabetes this year, according to the survey conducted by Research! America.
Additionally, consumers are concentrating on low-calorie diets due to the prevalence of lifestyle-related disorders. From 2020 to 2050, the percentage of health spending in the United States devoted to overweight and related disorders is expected to reach 14%, according to the Organization for Economic Co-Operation and Development (OECD) research. Additionally, governments have implemented policies to limit sugar intake, including front-of-package warning labels, which are anticipated to encourage the adoption of low-calorie items like nut spreads in the country.
