Sweet
spreads such as marmalades, jam, jellies, chocolate spreads, honey,
nut-based spreads, and others comprise a vital part of traditional
breakfast menu or snack in the western world. The longstanding
popularity of various sweet spreads across developed economies has
been the key factor propelling the global sweet spread market. In a
report, titled “Sweet Spread Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast, 2013 – 2019,”
Transparency Market Research (TMR) presents insights into the growth
drivers and restraints having implications on the market. It uses
several industry-leading analytical tools to present an
executive-level blueprint of the global sweet spread market.
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exclusive Global strategic Business report
:http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1508
Currently,
Europe and North America account for the leading share in the global
sweet spread market. These regions have sustained their dominance
since a long time and is expected to continue their growth run
through the forecast period between 2013 and 2019. In Europe, sweet
spreads are a part of traditional breakfast. Hence, consumers in this
region often spend significantly on the purchase of sweet spreads,
which has remained a key factor accelerating the demand for sweet
spreads.
Besides
this, the convenience provided by sweet spreads is a primary factor
persistently fuelling their demand across developed economies where
people prefer less elaborate food to fit in their hectic lifestyle.
Since it does not take long enough to prepare food using sweet
spread, it is witnessing widespread adoption particularly as a
popular breakfast food.
However,
in Asia Pacific the market is witnessing sluggish growth. The diverse
food culture and the lack of longstanding tradition related to sweet
spreads are inhibiting the growth of the market in Asia Pacific.
However, the market sees lucrative scope, as the region reports
increasing urbanization. The companies are looking to capitalize on
the untapped opportunities in Asia Pacific, primarily because the
region boasts a huge base of consumers. TMR expects Asia Pacific to
emerge as a lucrative market for sweet
spread manufacturers in the forthcoming years.
To
establish their footprint in Asia Pacific, manufacturers are focusing
on product innovation to match the preference of consumers in the
region. Taste innovation has shaped as a major trend in developed
countries as well and is expected to remain a vital avenue for
research and development in the near future.
The
presence of a large number of players has made the global sweet
spread market fairly fragmented, thus competitive. The market also
provides sufficient opportunities for new entrants to compete with
existing players. Some of the prominent enterprises operating in the
market are Wellness Foods Ltd., Premier Foods Plc, Unilever Group,
and Ferrero Group.
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