Key regions: Spain, Japan, China, Philippines, United Kingdom
The Food market in Southern Europe is witnessing moderate growth in the Spreads & Sweeteners sub-markets, driven by factors such as increasing health awareness and convenience of online services. However, the market's overall growth rate is subdued due to economic slowdown and changing consumer preferences towards healthier options.
Customer preferences: The Mediterranean diet, known for its emphasis on fresh produce and healthy fats, has become increasingly popular in Southern Europe. As a result, consumers are looking for natural and healthier alternatives to traditional spreads and sweeteners. This has led to a rise in demand for products such as honey, nut butters, and fruit spreads, which are seen as more nutritious and less processed options. Additionally, there has been a growing interest in plant-based sweeteners, such as stevia, as consumers become more health-conscious and environmentally aware. This shift towards healthier and more natural options is driven by a desire for overall well-being and a more sustainable lifestyle.
Trends in the market: In Southern Europe, the Spreads & Sweeteners Market within The Food market is experiencing a surge in demand for healthier and natural alternatives. Consumers are becoming more health-conscious and are seeking out products with reduced sugar and natural ingredients. This trend is expected to continue, with an increasing number of companies offering low-sugar and natural sweetener options. Additionally, there is a growing demand for spreads made with plant-based ingredients, reflecting the rising popularity of vegetarian and vegan diets. Industry stakeholders should take note of these trends and adapt their product offerings to cater to the changing preferences of consumers in the region. Failure to do so may result in a loss of market share to competitors who are quick to adapt to these emerging trends.
Local special circumstances: In Southern Europe, the Spreads & Sweeteners Market within The Food market is heavily influenced by the region's rich culinary culture and traditional food preferences. Countries like Italy and Spain are known for their love for sweet flavors, resulting in a high demand for natural sweeteners and spreads made from locally-sourced ingredients. Additionally, strict regulations on food labeling and quality control in these countries have led to a surge in the popularity of organic and artisanal products, creating a niche market for premium spreads and sweeteners.
Underlying macroeconomic factors: The Spreads & Sweeteners Market within The Food market in Southern Europe is heavily influenced by macroeconomic factors such as consumer spending power, trade policies, and agricultural production. Countries with stable economies and favorable trade agreements are experiencing higher demand for spreads and sweeteners, while those with economic challenges and restrictive trade policies are facing slower market growth. Additionally, the increasing health consciousness among consumers and the rising trend of healthy eating are driving the demand for natural and organic spreads and sweeteners in the region.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
