India Spreads Market Research Reports and Analysis 2022-2027

IMARC Group, a leading market research company, has recently releases report titled "India Spreads Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027." The study provides a detailed analysis of the industry, including the India spreads market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the India Spreads Market?

The India spreads market reached a value of US$ 202.80 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 674.20 Million by 2027, exhibiting a CAGR of 22.40% during 2022-2027.

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Spreads refer to various types of thick, semi-solid substances that are typically applied onto bread, crackers, or vegetables to enhance their flavor or add moisture. They can be prepared using milk, butter, cocoa, fruits, nuts, spices, and herbs. They are available in various flavors and textures like cheese, chocolate, vegetable, jam, hummus, butter, and peanut butter. At present, spreads are utilized in the preparation of different food products across India.

What are the growth prospects and trends in the India spreads industry?

Spreads are used as a texture enhancer in food delicacies served at restaurants, bakeries, and other food outlets around the world. Along with this, the thriving food and beverage (F&B) industry, represents one of the primary factors bolstering the market growth in India.

Moreover, rapid urbanization, increasing working population, and expanding purchasing power of consumers are driving the demand for different ready to eat (RTE) food products in the country. In addition, product manufacturers operating in the country are introducing sugar-free and vegan spreads to meet diverse consumer preferences and expand their product portfolios.

They are also investing in advertising campaigns for improving their existing sales and profitability. Apart from this, the availability of spreads with clean-label ingredients, prolonged shelf-life, and easy portability is influencing the market positively in the country.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product Type:
• Jam
• Chocolate spreads
• Peanut Butter
• Syrup
• Others

Breakup by Distribution Channel:
• Convenience Stores
• Supermarkets and Hypermarkets
• Online Stores
• Others

Breakup by Income Group:
• 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)

Breakup by Region:
• North India
• South India
• West and Central India
• East India

Who are the key players operating in the industry?

The report covers the major market players including:

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) and Agro Tech Foods Ltd (Sundrop).

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