Market Analysis
The global fortified breakfast spread market is predicted to have notable growth at a whopping 7.3% CAGR over the estimated period (2016-2023). Simply put, breakfast spreads are soft spreadable dairy processed, nut and fruit spreads that are applied on bread, toast, doughnuts and bagels and eaten during breakfast. Fortification is a process to add micronutrients in the breakfast spreads that people all over the world and in various age groups consume. The fortified breakfast spreads provide additional nutrients that comprises of different forms of vitamins and essential trace elements. In the Western countries spread is a vital part of breakfast and this trend is gradually expanding towards other countries too. Toast is indeed a staple in most breakfast programs but the good news is it is no longer a choice amid butter or jams on your toast. Today breakfast spreads are available in different varieties including peanut spread, chocolate spread, almond spread, nut based, fruit based, dairy based and much more which means there are enough choices to satiate your taste buds and make your breakfast time interesting. Generally, spreads are available in canned packages and bottles but lately squeeze containers too are available that are highly favored as these are flexible.
There are many factors that is driving the growth of the fortified breakfast spread market. Some of these factors as per the Market Research Future (MRFR) report include advancement in food technology, availability of new and innovative flavors, rising urbanization and globalization, enhancement of livelihood especially in developing economies, strong initiative undertaken by WHO, demand for convenience products by consumers for fulfilling daily nutrition intake owing to busy and hectic work life, growing consumer awareness, rising need for healthy food, improved packaging technology, new product launch in various beverage and food exhibitions for product awareness and demand for fortified breakfast spreads having low carb amid health conscious people. On the contrary, factors such as increasing popularity of cereals, fall in bread sales and utilization of synthetic chemicals namely stabilizing agent and thickening agent that may result in adverse health worries is likely to obstruct the growth of the fortified breakfast spread market over the estimated period.
Browse Complete Report Details @
Market Segmentation
Market Research Future report offers an all-inclusive segmental analysis of the fortified breakfast spread market on the basis of source, nutrients and distribution channel.
Based on source, it is segmented into dairy based, nut based, fruit based and others. Of these, the fruit based segment will have the largest share in the market over the estimated period owing to increasing health awareness while the nut based segment is anticipated to expand at the highest CAGR.
Based on nutrients, the fortified breakfast spread market is segmented into prebiotics and probiotics, proteins, minerals, vitamins and others.
Based on distribution channel, it is segmented into non-store based and store based. Of these, the store based segment will lead the fortified breakfast spread market over the estimated period while the non-store based segment will have the highest growth owing to the increasing popularity of the online stores. Regional Analysis
Based on region, the fortified breakfast spread market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, North America will reign the fortified breakfast spread market followed by Europe and Asia Pacific respectively. Increasing disposable income in the APAC region, hectic lifestyle, rising health awareness and changing consumption pattern are projected to boost the growth of fortified breakfast spread market. Besides, the increasing need for on-the-go products and increasing working class population particularly in India and China will propel market growth.
Competitive Analysis
The fortified breakfast spread market is fragmented and highly competitive due to the existence of many local and multinational players. This market is experiencing a lot of mergers and expansions. The leading manufacturers are striving in attaining innovation in line with the interest of the consumers. Hence, experiments with new ingredients and flavors are done through the market players.
Key Players
Leading players profiled in the global fortified breakfast spread market include Kraft Foods Group, Inc. (U.S.), Daiya Foods Inc. (Canada), Andros SAS (France), Ferrero Group (Italy), Premier Foods Plc (U.K.), Wellness Foods Ltd. (U.K.), and Unilever Group (U.K.).
Dec 2018- Barilla, leading Italian manufacturer will soon launch its chocolate and hazelnut spread under the brand, Pan di Stelle. The packaging will be completely recyclable for reducing the utilization of plastic and environmental impact. The spread has cookie crumbs to offer that special texture and is also palm oil free.
Request a Sample Report @
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Comments