Latin America Sweet Spreads Market Growth, Share, Size 2023-2028
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- Olivia Grande
- February 9, 2023
El nuevo estudio de Informes de Expertos titulado ‘El Mercado Latinoamericano de Cremas Untables Dulces, Informe y Pronóstico 2023-2028′, ofrece un análisis profundo del mercado, evaluándolo por el tipo de producto, el tipo de envase, el canal de distribución, y regiones. El informe analiza los factores clave de éxito y las limitaciones, también rastrea las últimas tendencias en la industria y estudia su impacto en el mercado en general. Además, evalúa la dinámica del mercado, cubriendo los indicadores clave de demanda y precio, junto con el análisis del mercado basado en los modelos FODA y las Cinco Fuerzas de Porter.
The new report by Informes de Expertos titled, ‘Latin America Sweet Spreads Market Report and Forecast 2023-2028’, gives an in-depth analysis of the market, assessing it based on product type, packaging type, distribution channel and key regions. The report analyses key success factors and constraints, tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5%
Sweet Spreads in Latin America are witnessing considerable growth due to their increasing consumption as part of breakfast or snacks. Furthermore, amongst various flavors, chocolate spreads are gaining momentum in the region, attributing to the growing adoption of chocolate spreads in children’s snacks and breakfast.
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Increasing consumers’ preference towards easy-to-prepare healthy foods or take-out options is shaping the market and contributing to its growth. Hectic lifestyles and increasing disposable incomes are also growth-inducing factors. Moreover, Generation Z is a driving force for the industry as they are likely to experiment more with different spreads flavors. In addition, the emergence of a new variety of flavors with innovative packaging will contribute further to the market’s growth in the coming years.
Industry Definition and Major Segments
Sweet spreads are creamy substances primarily used as an accompaniment to baked wheat products, such as bread, toast, bagels, and donuts, as a part of breakfast or snacks. They are mainly added to food to improve their taste and texture. They also find applications in the preparation of cakes, puddings, dips, smoothies, ice cream, etc.
By product type, the market is divided into:
- Jams and Preserves
- Chocolate Spreads
- Nuts and Seed-Based Spreads
Based on the type of packaging, the industry is classified into:
- Glass Containers
- Plastic Containers
By the distribution channel, the industry is segmented into:
- Supermarkets and Hypermarkets
- Specialized Retail Stores
- Convenience Stores
- Online Stores
Key regions covered include:
Rising demand for natural and organic products without preservatives and artificial ingredients are compelling the key players to invest in generating different types of spreads and increase their consumer base. Owing to the rising health awareness, consumers nowadays are increasingly inclining towards sweet spreads that are low in fat or sugar and without any inclusion of artificial additives. Moreover, a growing trend for innovative packaging of sweets spreads such as squeeze packets has been witnessed as these are convenient for on-the-go consumption. The launch of innovative products with novel flavors is likely to impact the market growth positively. Additionally, emerging food trends, such as increasing demand for ready-to-eat food options, further stimulate market growth.
Key Market Players
The major players in the market are:
- McCormick de México S.A. de C.V.
- Arcor Group
- Ferrero Group
- The J.M. Smucker Company
- The Kraft Heinz Company
- Conagra Brands
- Mondelez International
- The Hershey Company
- Hormel Foods
This report covers their profiles and provides information on expansions, investments and mergers and acquisitions, among other latest industry developments.
Informes de Expertos the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.
Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.
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