Spreads & Sweeteners - G20

G20

Highlights

Revenue in the Spreads & Sweeteners market amounts to US$222.00bn in 2024. The market is expected to grow annually by 7.20% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$144bn in 2024).
In relation to total population figures, per person revenues of US$44.64 are generated in 2024.
In the Spreads & Sweeteners market, volume is expected to amount to 86.84bn kg by 2029. The Spreads & Sweeteners market is expected to show a volume growth of 5.9% in 2025.0.
The average volume per person in the Spreads & Sweeteners market is expected to amount to 14.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Spreads and Sweeteners market within The Food market in G20 is experiencing minimal growth, influenced by factors such as changing consumer preferences, advancements in production methods, and fluctuating raw material costs. However, with increasing health consciousness and demand for natural and organic products, the market is expected to witness a steady growth in the coming years.

Customer preferences: The demand for healthier and natural alternatives in spreads and sweeteners has increased, driven by consumers' growing awareness of the benefits of clean eating and sustainability. This has led to a rise in popularity for plant-based options, such as maple syrup and honey, as well as low-calorie sweeteners like stevia. The trend towards transparency and ethical sourcing has also influenced consumer choices, with a preference for products that are free from artificial additives and made with responsibly sourced ingredients. These changing preferences are shaping the landscape of the Spreads & Sweeteners Market within The Food market, as brands strive to meet the evolving needs of health-conscious consumers.

Trends in the market: In the G20 countries, the Spreads & Sweeteners Market within The Food market market is experiencing a shift towards healthier and natural alternatives. There is a growing demand for plant-based sweeteners and spreads, driven by health-conscious consumers and increasing awareness of the negative effects of traditional sugar-laden products. This trend is expected to continue as consumers prioritize healthier options and governments implement stricter regulations on sugar consumption. Industry stakeholders must adapt to this trend by diversifying their product offerings and investing in research and development for healthier alternatives. Failure to do so may result in losing market share to competitors who are able to cater to the changing consumer preferences.

Local special circumstances: In Germany, the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's strict regulations on food labeling and ingredients. The market is also shaped by the country's preference for natural and organic products, leading to a demand for healthier and more sustainable spreads and sweeteners. Additionally, the market is impacted by the country's strong traditional bakery culture, with consumers seeking authentic and high-quality spreads and sweeteners for their baked goods.

Underlying macroeconomic factors: The Spreads & Sweeteners Market within The Food market is also influenced by macroeconomic factors such as consumer spending, inflation rates, and government policies. Countries with stable economic conditions and strong consumer demand for convenience products are experiencing higher sales in the market. On the other hand, regions with high inflation rates and government restrictions on imported goods are facing challenges in market growth. Furthermore, increasing health consciousness and demand for healthier alternatives are also driving the demand for natural and organic spreads and sweeteners in the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.