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Report
India Spreads Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-07-05 I 125 Pages I IMARC Group
Market Overview:
The India spreads market size reached US$ 250.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 789.3 Million by 2028, exhibiting a growth rate (CAGR) of 21.5% during 2023-2028. The burgeoning FMCG industry, increasing demand of ready-to-eat (RTE) products with several flavors, and the wide availability of spread represent some of the key factors driving the market.
Spreads are applied on various food products, such as bread, waffles, pancakes, and crackers. They are prepared with several ingredients, such as milk, nuts, fruits, butter, cocoa, extracts, herbs, and spices. They are widely available as jam, chocolate spread, peanut butter, and syrup. They are consumed in the form of snack dips, dessert glaze, salad dressings, jellies, and cake icings by individuals. They are convenient, cost-effective, easily available, consumed as a substitute for various food products, and assist in maintaining a healthy lifestyle. They are a rich source of protein, fiber, minerals, and vitamins and can promote a feeling of fullness while resulting in fat loss. They also aid in reducing heart diseases, maintaining strong bones, preventing gallstones, and lowering bad cholesterol. As they are utilized to enhance the flavor, texture, and palatability of various food products, the demand for spreads is increasing in India.
India Spreads Market Trends:
At present, the rising demand for spreads due to busy lifestyles and hectic working schedules of individuals represents one of the key factors supporting the growth of the market in India. Besides this, the growing trend of western food products, along with the burgeoning fast-moving consumer goods (FMCG) industry, is offering a positive market outlook in the country. Additionally, there is a rise in the need for convenient, ready-to-eat (RTE), cost-effective, and processed food products among the masses. This, coupled with the increasing utilization of spreads due to enhanced shelf life and to improve the flavor of food, is propelling the growth of the market in India. Apart from this, the escalating demand for numerous flavors in spreads, such as chilly chutney, honey mustard, chipotle, and spicy avocado, is offering lucrative growth opportunities to industry investors. Moreover, the wide availability of spreads through various distribution channels, such as hypermarkets, supermarkets, and convenience and online stores, is positively influencing the market in the country. In addition, the growing demand for organic and natural products due to the rising health consciousness among the masses is positively influencing the market. This, coupled with the increasing number of fast-food chains and quick-service restaurants (QSRs), is offering a favorable market outlook. Furthermore, key players are introducing sugar-free syrups with increased health benefits, which is strengthening the market growth in India.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the India spreads market report, along with forecasts at the country and regional levels from 2023-2028. Our report has categorized the market based on product type, distribution channel and income group.
Product Type Insights:
Jam
Chocolate spreads
Peanut Butter
Syrup
Others
The report has provided a detailed breakup and analysis of the India spreads market based on the product type. This includes jam, chocolate spreads, peanut butter, syrup, and others. According to the report, jam represented the largest segment.
Distribution Channel Insights:
Convenience Stores
Supermarkets and Hypermarkets
Online Stores
Others
A detailed breakup and analysis of the India spreads market based on the distribution channel has also been provided in the report. This includes convenience stores, supermarkets/hypermarkets, online stores, and others. According to the report, convenience stores accounted for the largest market share.
Income Group Insights:
Upper-Middle (INR 5.5 lacs - 27.5 lacs)
High-Income (Greater than INR 27.5 lacs)
Lower-Middle (INR 2.5 lacs - INR 5.5 lacs)
Low-Income (Less than INR 2.5 Lacs)
A detailed breakup and analysis of the India spreads market based on the income group has also been provided in the report. This includes upper-middle (INR 5.5 lacs - 27.5 lacs), high-income (greater than INR 27.5 lacs), lower-middle (INR 2.5 lacs - INR 5.5 lacs), and low-income (less than INR 2.5 Lacs). According to the report, upper-middle class accounted for the largest market share.
Regional Insights:
North India
South India
West and Central India
East India
The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, West and Central India, and East India. According to the report, North India was the largest market for India spreads. Some of the factors driving the North India spreads market included the rising awareness about benefits of consuming spreads, wide availability of various spreads, introduction of different flavors, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the India spreads market. Detailed profiles of all major companies have been provided. Some of the companies covered include Hindustan Unilever Limited (Unilever), G.D. Foods Manufacturing India Pvt. Ltd., Mapro Foods Pvt. Ltd, Ferrero India Pvt. Ltd. (Ferrero International S.A.), Dr. Oetker India Pvt. Ltd. (Dr. Oetker India Holding GmbH), Hershey India Pvt. Ltd. (The Hershey Company), Agro Tech Foods Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report
1. What was the size of the India spreads market in 2022?
2. What is the expected growth rate of the India spreads market during 2023-2028?
3. What has been the impact of COVID-19 on the India spreads market?
4. What are the key factors driving the India spreads market?
5. What is the breakup of the India spreads market based on the product type?
6. What is the breakup of the India spreads market based on the distribution channel?
7. What is the breakup of the India spreads market based on the income group?
8. What are the key regions in the India spreads market?
9. Who are the key players/companies in the India spreads market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 India Spreads Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
6.1 Jam
6.1.1 Market Trends
6.1.2 Market Breakup by Premiumization
6.1.3 Market Breakup by Key Players
6.1.4 Market Forecast
6.2 Chocolate Spread
6.2.1 Market Trends
6.2.2 Market Breakup by Premiumization
6.2.3 Market Breakup by Key Players
6.2.4 Market Forecast
6.3 Peanut Butter
6.3.1 Market Trends
6.3.2 Market Breakup by Premiumization
6.3.3 Market Breakup by Key Players
6.3.4 Market Forecast
6.4 Syrup
6.4.1 Market Trends
6.4.2 Market Breakup by Premiumization
6.4.3 Market Breakup by Key Players
6.4.4 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by Distribution Channel
7.1 Convenience Stores
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Supermarkets/Hypermarkets
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Online
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Income Group
8.1 Upper-Middle (INR 5.5 lacs - 27.5 lacs)
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 High-Income (Greater than INR 27.5 lacs)
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Lower-Middle (INR 2.5 lacs- INR 5.5 lacs)
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Low-Income (Less than INR 2.5 Lacs)
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Region
9.1 North India
9.1.1 Market Trends
9.1.2 Market Breakup by States
9.1.3 Market Forecast
9.2 West and Central India
9.2.1 Market Trends
9.2.2 Market Breakup by States
9.2.3 Market Forecast
9.3 South India
9.3.1 Market Trends
9.3.2 Market Breakup by States
9.3.3 Market Forecast
9.4 East India
9.4.1 Market Trends
9.4.2 Market Breakup by States
9.4.3 Market Forecast
10 SWOT Analysis
10.1 Strengths
10.2 Weaknesses
10.3 Opportunities
10.4 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.1 Key Players
14.1 Profile of Key Players
14.3.1 Hindustan Unilever Limited (Unilever)
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.2 G.D. Foods Manufacturing India Pvt. Ltd.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Mapro Foods Pvt. Ltd.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Ferrero India Pvt. Ltd. (Ferrero International S.A.)
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Dr. Oetker India Pvt. Ltd. (Dr. Oetker India Holding GmbH)
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Hershey India Pvt. Ltd. (The Hershey Company)
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
17.3.6.3 Financials
14.3.7 Agro Tech Foods Ltd
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
Figure 1: India: Spreads Market: Major Drivers and Challenges
Figure 2: India: Spreads Market: Sales Value (in Million US$), 2017-2022
Figure 3: India: Spreads Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 4: India: Spreads (Jam) Market: Sales Value (in Million US$), 2017 & 2022
Figure 5: India: Spreads (Jam) Market: Breakup by Premiumization (in %), 2022
Figure 6: India: Spreads (Jam) Market: Breakup by Key Players (in %), 2022
Figure 7: India: Spreads (Jam) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 8: India: Spreads (Chocolate Spreads) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: India: Spreads (Chocolate Spreads) Market:Breakup by Premiumization (in %), 2022
Figure 10: India: Spreads (Chocolate Spreads) Market: Breakup by Key Players (in %), 2022
Figure 11: India: Spreads (Chocolate spreads) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: India: spreads (Peanut Butter) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: India: Spreads (Peanut Butter) Market: Breakup by Premiumization (in %), 2022
Figure 14: India: Spreads (Peanut Butter) Market: Breakup by Key Players (in %), 2022
Figure 15: India: Spreads (Peanut Butter) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: India: Spreads (Syrup) Market: Sales Value (in Million US$), 2017-2022
Figure 17: India: Spreads (Syrup) Market: Breakup by Premiumization (in %), 2022
Figure 18: India: Spreads (Syrup) Market: Breakup by Key Players (in %), 2022
Figure 19: India: Spreads (Syrup) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: India: Spreads (Others) Market: Sales Value (in Million US$), 2017-2022
Figure 21: India: Spreads (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: India: Spreads (Convenience Store) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: India: Spreads (Convenience Store) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: India: Spreads (Supermarkets and Hypermarkets) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: India: Spreads (Supermarkets and Hypermarkets) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: India: Spreads (Online Stores) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: India: Spreads (Online Stores) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: India: Spreads (Other Distribution Channels) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: India: Spreads (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: India: Spreads (Upper-Middle (INR 5.5 lacs - 27.5 lacs)) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: India: Spreads (Upper-Middle (INR 5.5 lacs - 27.5 lacs)) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: India: Spreads (High-Income (Greater than INR 27.5 lacs)) Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: India: Spreads (High-Income (Greater than INR 27.5 lacs)) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: India: Spreads (Lower-Middle (INR 2.5 lacs- INR 5.5 lacs)) Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: India: Spreads (Lower-Middle (INR 2.5 lacs- INR 5.5 lacs)) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: India: Spreads (Low-Income (Less than INR 2.5 Lacs)) Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: India: Spreads (Low-Income (Less than INR 2.5 Lacs)) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: North India: Spreads Market: Sales Value (in Million US$), 2017-2022
Figure 39: North India: Spreads Market: Breakup by States (in %), 2022
Figure 40: North India: Spreads Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: West and Central India: Spreads Market: Sales Value (in Million US$), 2017-2022
Figure 42: West and Central India: Spreads Market: Breakup by States (in %), 2022
Figure 43: West and Central India: Spreads Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: South India: Spreads Market: Sales Value (in Million US$), 2017-2022
Figure 45: South India: Spreads Market: Breakup by States (in %), 2022
Figure 46: South India: Spreads Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: East India: Spreads Market: Sales Value (in Million US$), 2017-2022
Figure 48: East India: Spreads Market: Breakup by States (in %), 2022
Figure 49: East India: Spreads Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: India: Spreads Industry: SWOT Analysis
Figure 51: India: Spreads Industry: Value Chain Analysis
Figure 52: India: Spreads Industry: Porter's Five Forces Analysis
Table 1: India: Spreads Market: Key Industry Highlights, 2022 and 2028
Table 2: India: Spreads Market: Breakup by Product Type (in Million US$), 2017 & 2022
Table 3: India: Spreads Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
Table 4: India: Spreads Market: Breakup by Distribution Channel (in Million US$), 2017 & 2022
Table 5: India: Spreads Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
Table 6: India: Spreads Market: Breakup by Income Group (in Million US$), 2017 & 2022
Table 7: India: Spreads Market Forecast: Breakup by Income Group (in Million US$), 2023-2028
Table 8: India: Spreads Market: Breakup by Region (in Million US$), 2017 & 2022
Table 9: India: Spreads Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 10: India: Spreads Market: Key Price Indicators
Table 11: India: Spreads Market: Structure
Table 12: India: Spreads Market: Key Players
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