The India spreads market size reached US$ 304.1 Million in 2023. Looking forward, the publisher expects the market to reach US$ 1.49 billion by 2032, exhibiting a growth rate (CAGR) of 19.35% during 2023-2032. The burgeoning FMCG industry, increasing demand of ready-to-eat (RTE) products with several flavors, and the wide availability of spread represent some of the key factors driving the market.
Spreads are applied on various food products, such as bread, waffles, pancakes, and crackers. They are prepared with several ingredients, such as milk, nuts, fruits, butter, cocoa, extracts, herbs, and spices. They are widely available as jam, chocolate spread, peanut butter, and syrup. They are consumed in the form of snack dips, dessert glaze, salad dressings, jellies, and cake icings by individuals. They are convenient, cost-effective, easily available, consumed as a substitute for various food products, and assist in maintaining a healthy lifestyle.
They are a rich source of protein, fiber, minerals, and vitamins and can promote a feeling of fullness while resulting in fat loss. They also aid in reducing heart diseases, maintaining strong bones, preventing gallstones, and lowering bad cholesterol. As they are utilized to enhance the flavor, texture, and palatability of various food products, the demand for spreads is increasing in India.
Apart from this, the escalating demand for numerous flavors in spreads, such as chilly chutney, honey mustard, chipotle, and spicy avocado, is offering lucrative growth opportunities to industry investors. Moreover, the wide availability of spreads through various distribution channels, such as hypermarkets, supermarkets, and convenience and online stores, is positively influencing the market in the country.
In addition, the growing demand for organic and natural products due to the rising health consciousness among the masses is positively influencing the market. This, coupled with the increasing number of fast-food chains and quick-service restaurants (QSRs), is offering a favorable market outlook. Furthermore, key players are introducing sugar-free syrups with increased health benefits, which is strengthening the market growth in India.
2. What is the expected growth rate of the India spreads market during 2024-2032?
3. What has been the impact of COVID-19 on the India spreads market?
4. What are the key factors driving the India spreads market?
5. What is the breakup of the India spreads market based on the product type?
6. What is the breakup of the India spreads market based on the distribution channel?
7. What is the breakup of the India spreads market based on the income group?
8. What are the key regions in the India spreads market?
9. Who are the key players/companies in the India spreads market?
Spreads are applied on various food products, such as bread, waffles, pancakes, and crackers. They are prepared with several ingredients, such as milk, nuts, fruits, butter, cocoa, extracts, herbs, and spices. They are widely available as jam, chocolate spread, peanut butter, and syrup. They are consumed in the form of snack dips, dessert glaze, salad dressings, jellies, and cake icings by individuals. They are convenient, cost-effective, easily available, consumed as a substitute for various food products, and assist in maintaining a healthy lifestyle.
They are a rich source of protein, fiber, minerals, and vitamins and can promote a feeling of fullness while resulting in fat loss. They also aid in reducing heart diseases, maintaining strong bones, preventing gallstones, and lowering bad cholesterol. As they are utilized to enhance the flavor, texture, and palatability of various food products, the demand for spreads is increasing in India.
India Spreads Market Trends:
At present, the rising demand for spreads due to busy lifestyles and hectic working schedules of individuals represents one of the key factors supporting the growth of the market in India. Besides this, the growing trend of western food products, along with the burgeoning fast-moving consumer goods (FMCG) industry, is offering a positive market outlook in the country. Additionally, there is a rise in the need for convenient, ready-to-eat (RTE), cost-effective, and processed food products among the masses. This, coupled with the increasing utilization of spreads due to enhanced shelf life and to improve the flavor of food, is propelling the growth of the market in India.Apart from this, the escalating demand for numerous flavors in spreads, such as chilly chutney, honey mustard, chipotle, and spicy avocado, is offering lucrative growth opportunities to industry investors. Moreover, the wide availability of spreads through various distribution channels, such as hypermarkets, supermarkets, and convenience and online stores, is positively influencing the market in the country.
In addition, the growing demand for organic and natural products due to the rising health consciousness among the masses is positively influencing the market. This, coupled with the increasing number of fast-food chains and quick-service restaurants (QSRs), is offering a favorable market outlook. Furthermore, key players are introducing sugar-free syrups with increased health benefits, which is strengthening the market growth in India.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the India spreads market report, along with forecasts at the country and regional levels from 2024-2032. Our report has categorized the market based on product type, distribution channel and income group.Product Type Insights:
- Jam
- Chocolate Spreads
- Peanut Butter
- Syrup
- Others
Distribution Channel Insights:
- Convenience Stores
- Supermarkets and Hypermarkets
- Online Stores
- Others
Income Group Insights:
- 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)
Regional Insights:
- North India
- South India
- West and Central India
- East India
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the India spreads market. Detailed profiles of all major companies have been provided. Some of the companies covered include Agro Tech Foods Ltd, Dr. Oetker India Pvt. Ltd. (Dr. August Oetker), Ferrero India Pvt. Ltd., G.D. Foods Manufacturing India Pvt. Ltd., Hershey India Pvt. Ltd. (The Hershey Company), Hindustan Unilever Limited (Unilever), Mapro Garden LLP. etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. What was the size of the India spreads market in 2023?2. What is the expected growth rate of the India spreads market during 2024-2032?
3. What has been the impact of COVID-19 on the India spreads market?
4. What are the key factors driving the India spreads market?
5. What is the breakup of the India spreads market based on the product type?
6. What is the breakup of the India spreads market based on the distribution channel?
7. What is the breakup of the India spreads market based on the income group?
8. What are the key regions in the India spreads market?
9. Who are the key players/companies in the India spreads market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 India Spreads Market
6 Market Breakup by Product Type
7 Market Breakup by Distribution Channel
8 Market Breakup by Income Group
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Agro Tech Foods Ltd
- Dr. Oetker India Pvt. Ltd. (Dr. August Oetker)
- Ferrero India Pvt. Ltd.
- G.D. Foods Manufacturing India Pvt. Ltd.
- Hershey India Pvt. Ltd. (The Hershey Company)
- Hindustan Unilever Limited (Unilever)
- Mapro Garden LLP
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 112 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 0.3 Billion |
| Forecasted Market Value ( USD | $ 1.49 Billion |
| Compound Annual Growth Rate | 19.3% |
| Regions Covered | India |
| No. of Companies Mentioned | 7 |
