The Global Chocolate Spread Market size is expected to grow at a CAGR of 5.6% during the forecast period. The demand for chocolate spreads has been increasing in recent years due to the product's ability to be used as a substitute for other food products, such as butter and cream cheese. Chocolate spreads are also being increasingly used in retail stores and online shopping sites, which is positively impacting the demand for this product through 2021-2028.
Chocolate Spread is a chocolate-flavored, sweetened, and flavored liquid that originates from the United Kingdom. The product can be used in filling crepes, pancakes, or waffles; to make sauces for desserts such as cake pop, pudding pops, ice cream sundae cups, and chocolate chip cookies; on toast with peanut butter or Nutella topping.
Chocolate spreads are used to enhance the taste of different food items. They often contain low fat and sugar levels while being rich in flavor. This makes them a popular choice for consumers who want to maintain a healthy lifestyle, but still, have something sweet to eat on occasion.
On the basis of Type, the market is segmented into Bottles, Pouches, Cups, and Others.
These are typically made from a base of milk, cream, and cocoa powder. They come in many shapes with caps that twist off to reveal the filling inside. They come in many different sizes and shapes, but the most common shape is round with screw threads on the top that can be unscrewed to allow for dispensing.
Pouches consist of two heat-sealed layers - one containing the product and another holding an envelope for mixing hot water before consumption.
Cups contain both liquid cocoa as well as other ingredients such as sugar or condensed milk which is poured into cups soon after they're taken out from their packaging.
Other forms might also include those that can be spooned onto cold food such as ice cream or waffles, chocolates with nuts mixed in, or chocolate spreads in a jar.
On the basis of Application, the market is segmented into Store-Based Retailing and Online Retail. The online retail segment is likely to grow at a high rate during the forecast period. Chocolate spreads are used as one of the ingredients in store-based retailing. Consumers enjoy and can use it for their own convenience. It is important to know that companies have realized this need, which has led them to produce chocolate spread products in many different forms such as cups, pouches, or bottles.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market is growing at a significant rate in the APAC region owing to its increasing industrialization and modernization of lifestyles.
The market in the North American region accounted for 35% revenue share in 2018 owing to various factors such as increasing food trends which include demand for healthy eating options alongside the rising disposable income levels contributing towards minimizing wastage of products are driving the chocolate spreads market. The rise in coffee shops coupled with an increased focus on convenience foods has paved the way for a trend that favors smaller packaged items over full-size ones thereby leading to an increase in consumption of quick breakfast or dessert choices like milkshakes and hot cocoa respectively.
The increase in demand for healthy products and convenience foods has led to increased consumption of spreads as they are perceived as healthier than butter or other fat sources such as palm oil. Additionally, the increasing disposable income levels among consumers coupled with growing awareness about low-calorie diets have also contributed towards this trend.
The increase in demand for chocolate spreads is also due to the increasing number of people suffering from diabetes and obesity. Chocolate spread provides a healthy alternative as it contains less sugar, fat, sodium, and calories than butter or any other fat source that is used in cooking. In addition, the growing urban population has led to an increased demand for convenience foods which further drives growth in this market. The high demand can be attributed to many factors such as rising health consciousness among consumers coupled with changing lifestyles including more working women who have reduced time on hand for preparing food; lack of skills when it comes to cooking along with fewer family members at home overburdening one person's kitchen work; rise in awareness about low-calorie diets among others.
Up Market Research published a new report titled “Chocolate Spread Market research report which is segmented by Types (Bottles, Pouches, Cups, Others), By Applications (Store-Based Retailing, Online Retail), By Players/Companies Ferrero Rocher, The Hershey, Hormel Foods, The J.M. Smucker, PASCHA, Dr.Oetker India, Young'S, Andros, Date Lady, Flourish”.
|Report Attributes||Report Details|
|Report Title||Chocolate Spread Market Research Report|
|By Type||Bottles, Pouches, Cups, Others|
|By Application||Store-Based Retailing, Online Retail|
|By Companies||Ferrero Rocher, The Hershey, Hormel Foods, The J.M. Smucker, PASCHA, Dr.Oetker India, Young'S, Andros, Date Lady, Flourish|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||205|
|Number of Tables & Figures||144|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Bottles, Pouches, Cups, Others and By Application Store-Based Retailing, Online Retail.
Some of the companies that are profiled in this report are:
Chocolate Spread Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Chocolate Spread Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the Chocolate Spread Market Report:
Some other reports from this category!