The latest research study “India Spreads Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the India spreads market size reached a value of US$ 202.80 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 674.20 Million by 2027, exhibiting a CAGR of 22.40% during 2022-2027.
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A spread is a type of condiment that is applied to various food products like bread, crackers, waffles, and pancakes. It is an essential part of the everyday diet in various regions, especially as breakfast or snacks. Spreads include jams, jellies, and kinds of butter, which are added to enhance the flavor, texture, and palatability of food products. They are usually prepared from milk, butter, fruits, nuts, cocoa, herbs, and spices. Spreads are also a rich source of nutrients including, vitamins, minerals, and amino acids. They are gaining popularity among the Indian population as they can be used as dressings, dessert glaze, jellies, cake icing, and snack dips.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
India Spreads Market Trends and Drivers:
The India spreads market is primarily driven by the growing penetration of western food trends. Rapid urbanization has resulted in hectic schedules and sedentary lifestyles among consumers, thereby increasing the demand for quick, healthy, convenient, and on-the-go meal options.
In addition to this, the significant growth of the FMGC sector is also facilitating the market growth in India. Furthermore, the rising health consciousness is increasing the need for low-fat and -sugar spread variants.
Manufacturers are investing in R&D activities to launch natural and organic products with clean-label ingredients and prolonged shelf life. On account of these factors, the market is expected to continue its growth in the upcoming years.
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India Spreads Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
India Spreads Companies :
Hindustan Unilever Limited (Unilever), G.D. Foods Manufacturing India Pvt. Ltd., Mapro Foods Pvt. Ltd, Ferrero India Pvt. Ltd. (Ferrero International S.A.), Dr. Oetker India Pvt. Ltd.(Dr. Oetker India Holding GmbH), Hershey India Pvt. Ltd. (The Hershey Company) and Agro Tech Foods Ltd (Sundrop).
The report has segmented the market on the basis of region, product type, distribution channel and income group.
Breakup by Product Type:
- Chocolate spreads
- Peanut Butter
Breakup by Distribution Channel:
- Convenience Stores
- Supermarkets and Hypermarkets
- Online Stores
Market Breakup by Income Group:
- Upper-Middle (INR 5.5 lacs – 27.5 lacs)
- High-Income (Greater than INR 27.5 lacs)
- Lower-Middle (INR 2.5 lacs- INR 5.5 lacs)
- Low-Income (Less than INR 2.5 Lacs)
Breakup by Region:
- North India
- South India
- West and Central India
- East India
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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