Spreads & Sweeteners - NAFTA

NAFTA

Highlights

Revenue in the Spreads & Sweeteners market amounts to US$21.40bn in 2024. The market is expected to grow annually by 5.22% (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$41.94 are generated in 2024.
In the Spreads & Sweeteners market, volume is expected to amount to 7.18bn kg by 2029. The Spreads & Sweeteners market is expected to show a volume growth of 4.6% in 2025.0.
The average volume per person in the Spreads & Sweeteners market is expected to amount to 12.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Spreads & Sweeteners market in NAFTA is experiencing minimal growth due to factors such as saturated market, fluctuating prices and low consumer awareness. The growing demand for natural and healthier options is also impacting the market's slow growth rate.

Customer preferences: Consumers in the Spreads & Sweeteners Market within The Food market are gravitating towards healthier options, driving growth in the market for natural and organic spreads and sweeteners. This trend is fueled by a growing awareness of the negative health impacts of excessive sugar consumption, as well as a preference for sustainable and ethical products. As a result, manufacturers are expanding their offerings to include more plant-based and low-calorie options to cater to this shift in consumer preferences.

Trends in the market: In the Spreads & Sweeteners Market within The Food market, there is a notable trend towards healthier and natural options. Consumers are increasingly seeking out spreads and sweeteners made from natural ingredients, such as honey or fruit, rather than processed sugars. This trend is driven by growing health consciousness and concerns over the negative effects of artificial sweeteners. As a result, industry stakeholders are investing in research and development to create innovative and healthier products to meet this demand. This trend is expected to continue, with potential implications for the market's growth and competition as consumers prioritize health and wellness in their food choices.

Local special circumstances: In Mexico, the Spreads & Sweeteners Market within The Food market is influenced by the country's strong agricultural sector and the demand for locally sourced, natural ingredients. This has resulted in a thriving market for organic, artisanal spreads and sweeteners. Additionally, Mexico's cultural preferences for sweet flavors and traditional food preparations have shaped the market, with a variety of unique spreads and sweeteners catering to these tastes. Government regulations promoting healthy eating have also led to the introduction of low-calorie and sugar-free options in the market.

Underlying macroeconomic factors: The Spreads & Sweeteners Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending, disposable income, and changing dietary preferences. Countries with stable economic conditions and a growing middle class population are experiencing higher demand for convenient and affordable food options, driving the growth of the spreads & sweeteners market. On the other hand, regions with economic instability and low disposable income are facing challenges in sustaining market growth. Moreover, the increasing prevalence of health consciousness and dietary restrictions globally is also impacting the market, leading to a shift towards healthier and natural spreads & sweeteners.

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.