Technavio, a tech-focused market research firm, has published a new report on the global fruit spreads market, which is expected to experience a slow but steady growth rate with a CAGR of close to 3% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global fruit spreads market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global fruit spreads market into the following key regions: The Americas, APAC, Europe, and MEA.
Geographical segmentation of the global fruit spreads market for 2015 (market share %)
|
Europe |
61.12% |
|
Americas |
26.19% |
|
APAC |
10.69% |
|
MEA |
2.00% |
Source: Technavio
Fruit spreads market in Europe
In 2015, Europe dominated the global fruit spreads market accounting for a share of around 61%. Several consumers prefer having fruit spreads daily and use them in different dishes like desserts, salads, and smoothies. The major end-users of the fruit spreads market in Europe are Germany, France, and the Netherlands.
According to Manjunath Reddy, a lead analyst at Technavio, specializing in research on food, “The high demand for 100% fruit-based drinks and smoothies is anticipated to drive the fruit spreads market during the forecast period. The rapid rise in demand is due to the regular consumers of fruit spreads who are aware of the health benefits of fruits. Moreover, the growing interest in these products is likely to intensify the competition for jams and jelly products in the country.”
The most popular flavors in Europe are red fruits, especially strawberries, and raspberries, citrus fruits, tropical fruits such as apricots, and cherries. There is also a growing inclination for seasonally supplied products.
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Fruit spreads market in the Americas
The fruit spreads market in the Americas will grow at a steady pace during the forecast period. There is a rising demand for fruit spreads in the region, and the market is driven by the need for convenience food due to the busy lifestyles. Moreover, health-conscious consumers read product labels to know about the ingredients used in these products before making purchases. The healthy eating trend has led the consumers to reduce their intake of sweet spreads like jams and jellies compelling the manufacturers to produce foods with no sugar, reduced sugar, or low sugar. Technavio expects the fruit spreads market to grow steadily in Canada during the forecast period due to the changing consumer preferences and increasing health awareness. The shifting taste of consumers will lead to the launch of many private labels during the forecast period at competitive prices.
Fruit spreads market in APAC
The major producers and suppliers of fruits for fruit spreads in APAC are India and China. The market in APAC is growing at a steady pace, driven by the rapidly evolving demand for fruit spreads. Consumer perceives these products as a self-indulgent luxury and healthier than the traditional food types. They are slowly changing their eating habits and are consuming bread with fruit spreads as part of their daily diet for breakfast and snacks. Predictions of GDP and private consumption expenditure are important indicators for the jellies, jams, and preserves market in the Asian countries. In APAC, the fruit spreads market is still in the growing stage and it is anticipated that the increasing awareness among consumers will contribute to its growth during the forecast period.
Fruit spreads market in MEA
The rising incomes and consumer lifestyles have improved the market for fruit spreads, propelling the consumer to spend more on food in the Middle East. Further, the young population and rising income are driving the demand for fruit spreads in the UAE. Saudi Arabia is a growing market for high-value food products, and consumers are inclined to try new food products, offering more opportunities for the US companies to market their new products in this region.
The top leading vendors operating in the global fruit spreads market are:
- Cascadian Farm
- Crofters Food
- The J.M. Smucker Company
- Polaner
- Really Good
- Santa Cruz
Other prominent vendors in the market include Baxter & Sons, Bionaturae, Meridian Foods, National Grape Co-operative Association, Orkla Group, Premier Foods, and Welch.
A more detailed analysis is available in the Technavio report titled, ‘Global Fruit Spreads Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Jams Jellies and Preserves Market 2016-2020
- Global Sweet Spreads Market 2016-2020
- Global Smoothies Market 2016-2020
- Global Apple Cider Vinegar Market 2016-2020
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