Italian confectionery giant Ferrero is the other name for
chocolate spreads in the country, as it is having a predominating share in the
chocolate spread market, primarily due to its popularity on the social media,
especially among the elite consumers.
Most recently, Nutella has caught the fancy of the urban
youth who use it in innovative ways to make breakfast more appealing. It is a
cool brand for young and old people, and it also enjoys the tag of being a
western favourite, and this perception is being encashed by the company in a
way that has led to word-of-mouth branding, especially among the young elite
class of the country, who love to share their regimens with a hashtag.
According to the
report on India Spread (Jam, Honey, Butter, Cheese, Choco) Market Outlook,
2023' published by Bonafide Research, the chocolate spreads market in the
country is expected to rise up to more than INR 300 crores in the forecast
period 2022-23 owing to the factors like widespread acceptance of bread in
daily diets majorly among urban population. Also, increasing use of chocolate
spreads as a substitute to butter owing to its low fat content, high nutritive
value and easy spread-ability at refrigeration temperatures over food products
such as ice cream toppings, croissants, instant hot chocolate are some of the
key factors bolstering the market growth. Total chocolate spread market is
anticipated to have growth rate more than 15% during forecast period. Though, it has negligible market share in the
total spread market around 4%.
To download page:
https://www.bonafideresearch.com/download_page.php?product_code=180720311
The increasing trend of snackification will add up to the
growth of chocolate spread market during the forecast period. In addition to
this, the chocolate hazelnut spread is becoming an integral part of every
breakfast. Manufacturers are also offering low calorie, gluten free and reduced
fat chocolate hazelnut spread to cater to the surging demand from the health
conscious people especially in the developed markets.
Nutella has two types of variants under chocolate spread:
Chocolate Spread and Hazelnut Spread with Cocoa. Ferrero is manufacturing
chocolate spread domestically, while it imports hazelnut spread. It is
significant that even though Nutella has not launched any advertisement
campaign in the country for its chocolate spread, the company has managed to
gain a dominating share in the market. It is so, because people are now aware
about the product due to word-of-mouth. It's major rivalry is with Hershey's
choco spread and Dr. Oetker's Funfoods in india.
Chocolate spreads are majorly consumed majorly as a spread
on toasts, breads and other bakery products such as pancakes, muffins, pitas
and waffles . The plain chocolate spread is dominating the market with more
than 65% share, and this is expected to decrease in future. Increasing trend in
the market is on the account of increasing awareness for healthy breakfast,
rising consumer expense on ready to eat food items, and presence of
comparatively higher number of Tier-l and Tier-ll cities, which are the major
demand generators of chocolate spreads in the country.
‘India Spread (Jam, Honey, Butter, Cheese, Choco) Market
Outlook, 2023’ gives a comprehensive analysis of the Spread industry in India.
The India Spread market majorly consists of cheese spread, butter spread,
peanut spread, honey spread, chocolate spread, jams, jellies and preserves and
other spreads like sandwich spread, green chutney, imly chutney, etc.
Among all, honey spread is dominating the market with more
than 50% share, owing to its health benefits, such as antimicrobial and
immunity boosting properties. Honey and Butter is the major contributor having
more than 75% of the market share in the year 2016-17. All these products are
segmented into their types and end users i.e. retail and institutional. Other
spread which includes green chutney, special sandwich spread, imly chutney etc
is expected to have market value around INR 125 crore at the end of forecast
period. And it has highest CAGR during review period which was more than 25%.
Jams, Jellies and Preserve have least growth rate being oldest category after
honey in the country. Retail sales have dominance over institutional in overall
spread market in the year 2016-17.
Ask for a sample
report: https://www.bonafideresearch.com/samplereport/180720311/India-Spread-Jam-Honey-Butter-Cheese-Choco-Market-Outlook-2023
How it will help
solving your strategic decision making process?
- India Spreads Market Size by Value & Forecast
- India Spreads Market Segmental Analysis: By Company, By
Product Type, By End User
-India Butter Market
- India Butter Market Segmental Analysis: By Company, By
Product Type, By End User
- India Cheese Spread Market
- India Cheese Spreads Market Segmental Analysis: By
Company, By Product Type, By End User
- India Chocolate Spread Market
- India Chocolate Spreads Market Segmental Analysis: By
Company, By Product Type, By End User
- India Peanut Butter Market
- India Peanut Butter Market Segmental Analysis: By Company,
By Product Type, By End User
- India Honey Market
- India Honey Market Segmental Analysis: By Company, By
Product Type, By End User
- India Jams, Jellies and Preserves Market
- India Jams, Jellies and Preserves Market Segmental
Analysis: By Company, By Product Type, By End User
- India Other Spreads Market- Average Selling Price
- Product, Variant & Pricing Analysis
- Product Variant Information
- Key Vendors in this market space
This report can be useful to Industry consultants,
manufacturers and other stakeholders to align their market-centric strategies.
In addition to marketing & presentations, it will also increase competitive
knowledge about the industry.
Report Methodology
The information contained in this report is based upon both
primary and secondary research. Primary research included interviews with
various channel partners of Spread in India. Secondary research included an
exhaustive search of relevant publications like company annual reports,
financial reports and proprietary databases.
About Bonafide Research
Bonafide Research is a multi-disciplinary research and
consulting company which provides all the data required to solve strategic,
business and marketing problems. Bonafide is one of the fastest growing market
research and consulting company offering syndicated research, custom research
and marketing services. Bonafide Research has not only been working with
fortune 500 clients but also served to mid-size companies, small specialists
and even start-ups. Our quality of work has ensured repeat business,
recognition and recommendations from clients across the world.
https://www.bonafideresearch.com/product/180720311/India-Spread-Jam-Honey-Butter-Cheese-Choco-Market-Outlook-2023
Please get in touch for more information.
CONTACT US
Bonafide Research & Marketing Pvt. Ltd.
Steven Thomas – Sales & Marketing Manager
E-mail: sales@bonafideresearch.com
Telephone: +91-7878231309
Website: http://bonafideresearch.com/
No comments:
Post a Comment