June 1, 2023

The global honey spread market size was valued at USD 3.59 billion in 2021. The market is expected to grow from USD 3.70 billion in 2022 to USD 5.18 billion by 2029, exhibiting a CAGR of 4.93% during the forecast period.

This information is provided by Fortune Business Insights, in its report, titled, “Honey Spread Market, 2022-2029.”

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List of Key Players Mentioned in the Report:

  • Hive & Wellness Australia Pty Ltd. (Australia)
  • M. Smucker (U.S.)
  • Land O’ Lakes (S.)
  • Mellona (Cyprus)
  • Dabur Ltd. (India)
  • Honey-Butter Products Co., Inc. (U.S.)
  • The Kraft Heinz Company (U.S.)
  • Alpalair Wellness Private Limited (India)
  • Alberta Honey Producers Cooperative Limited (Canada)
  • Comvita Limited (New Zealand)

COVID-19 Impacts:

Augmented Retail Sales of Spreads amid COVID-19 to Bolster Growth

The outbreak of COVID-19 pandemic and the consequent guidelines inflicted by numerous governments has led to the market’s stringent closure, leading in social distancing among consumers. Consumers opted for stocking up on important foods in bulk at home, mainly breakfast staples such as these food spreads. The corporations functioning in the market also observed growth in their revenue during the lockdown period.

Report Coverage:

The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide the estimated size of the honey spread market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions simple.

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Mixed Honey Spread Segment Holds Prime Share owing to Extended Ingestion of Healthy Food Spreads

The mixed honey spread segment is anticipated to hold a primary share in the market owing to the rising consumer demand for products with varied flavor profiles. The latest trend in the market is a fluctuation from the regular honey butter to other varieties, involving tangy, chocolaty, and nutty, among other flavors.

Drivers and Restraints:

Rising Disposition of Consumers towards a Healthy Lifestyle to Drive Market Growth

Consumers’ fondness for healthy and low-calorie spreads is being swayed by their inclination toward a healthy lifestyle. Individuals who treasure health and wellness are broadly consuming honey based spreads as a natural product as a substitute of sugar based spreads. Their chemical components’ nutritional value unquestionably progresses health and body working. Numerous surveys from the National Library of Medicine have also shown that the active compounds in honey has excellent antioxidant, antimicrobial, anti-inflammatory, and anti-allergic characteristics.

However, duplicity of honey is a surging concern; with low-cost production and global distribution opening the door to unprincipled producers, the honey spread market is also being severely affected.

Hypermarkets/Supermarkets to Lead among Distribution Channels

Hypermarkets/Supermarkets are predicted to be the dominating distribution channels owing to consumers’ increasing inclination and dependence on these mass merchandisers for grocery consumptions.

In terms of geography, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Regional Insights:

North America to Dominate Backed by Popularity of Food Spreads in Region

North America held the largest honey spread market share and stood at USD 1.46 billion in 2021. The occurrence of food spreads in traditional breakfast in North America can be accredited to their fondness.

Asia Pacific observed considerable honey spread market growth owing to the region’s diversity. This growth can also be credited to the quick fluctuations in regard to financial advancement.

The European market for honey spread is estimated to grow in the forecast period due to the growing trend toward healthier living, modifications in the food processing industry, and increasing income in Central and Eastern European nations.

Competitive Landscape:

Radical Product Launch Declarations by Prime Players to Spur Market Growth

The fundamental players adopt numerous strategies to bolster their position in the market as dominating companies. One such crucial strategy is acquiring companies to bolster the brand value among users. Another vital strategy is periodically launching innovative products with a methodical review of the market and its target audience.

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Key Industry Development:

April 2022: Dr. Oetker, one of India’s quickest-developing mayo, spreads, and condiments manufacturers, unveiled all-Natural Peanut Butter sweetened with natural honey. The product has elevated nutritional value with a goodness of 91% roasted peanuts.

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Market Trends
  • Key Insights
    • Overview on the Parent Market
    • Supply Chain Analysis
    • Qualitative Analysis on Technological Advancements
    • Industry SWOT Analysis
    • Recent Industry Developments – Policies, Mergers & Acquisitions, and New Product Launches
    • Market Analysis and Insights (in Relation with COVID-19)
      • Impact of COVID-19 on the Market
      • Supply Chain Challenges due to the Pandemic
      • Potential Opportunities Due to COVID-19
  • Global Honey Spread Market Analysis, Insights and Forecast, 2018-2029
    • Key Findings / Summary
    • Market Size Estimates and Forecast
      • By Type (Value)
        • Pure Honey Spread
        • Mixed Honey Spread
          • Honey Fruit Spread
          • Honey Nut/Butter Spread
          • Others
      • By Distribution Channel (Value)
        • Supermarkets/Hypermarkets
        • Specialty Stores
        • Online Retail Stores
        • Others
      • By Region (Value)
        • North America
        • Europe
        • Asia Pacific
        • South America
        • Middle East & Africa
  • North America Honey Spread Market Analysis, Insights and Forecast, 2018-2029
    • Key Findings / Summary
    • Market Size Estimates and Forecast
      • By Type (Value)
        • Pure Honey Spread
        • Mixed Honey Spread
          • Honey Fruit Spread
          • Honey Nut/Butter Spread
          • Others

TOC Continued…!

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