Spreads - ASEAN | Statista Market Forecast

Revenue in the Spreads market amounts to US$11.83bn in 2024. The market is expected to grow annually by 6.44% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$19bn in 2024).
In relation to total population figures, per person revenues of US$17.11 are generated in 2024.
In the Spreads market, volume is expected to amount to 3.49bn kg by 2029. The Spreads market is expected to show a volume growth of 3.2% in 2025.0.
The average volume per person in the Spreads market is expected to amount to 4.3kg in 2024.

Definition:

The Spreads market covers food products that are intended to be spread over other foods, such as bread. Spreads typically have a semi-solid or creamy texture and are available in a wide range of flavors, such as jam, marmalade, and peanut butter.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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Jams and marmalades
Chocolate spreads
Peanut butter

Other bread spreads, such as cream cheese
Honey
Compotes
Out-of-home consumption

The Spreads market in the ASEAN Food Market is experiencing minimal growth due to factors such as increasing competition from sub-markets like Jams & Marmalades, Chocolate Spreads, and Peanut Butter, as well as changing consumer preferences towards healthier options. However, the convenience offered by online shopping and the rising health awareness among consumers are driving some growth in the market.

Customer preferences: As the ASEAN region experiences rapid urbanization and modernization, there is a growing preference for convenience and on-the-go food options among consumers. This has led to a rise in demand for single-serve spreads and sweeteners that are easy to use and carry. Additionally, there is a growing awareness about health and wellness, leading to a rise in demand for natural and organic spreads and sweeteners. This trend is also driven by the increasing number of health-conscious millennials and Gen Z consumers, who are more likely to prioritize clean and healthy ingredients in their food choices.

Trends in the market: In ASEAN and the Spreads Market of the Spreads & Sweeteners Market within The Food market, there is a rising demand for healthier and natural spreads and sweeteners. This trend is driven by increasing health consciousness and a shift towards clean label products. Industry players are responding by launching products with natural ingredients, such as honey and agave nectar, to meet consumer preferences. This trend is expected to continue, with consumers showing a preference for products with minimal or no artificial additives. Additionally, there is a growing interest in plant-based spreads and sweeteners, as consumers become more environmentally aware and seek sustainable options. This presents opportunities for industry players to innovate and expand their product offerings to cater to this demand.

Local special circumstances: In Indonesia, the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's diverse culinary culture. Local favorites like peanut butter and palm sugar are widely consumed, creating a strong demand for spreads and sweeteners. Additionally, Indonesia's large population and growing middle class are driving market growth, with a focus on convenience and affordability. However, strict import regulations on certain ingredients pose a challenge for international brands looking to enter the market.

Underlying macroeconomic factors: The Spreads & Sweeteners Market within The Food market is heavily impacted by macroeconomic factors in ASEAN countries and the global market. The increasing demand for healthier food options and the rising disposable income of consumers are driving the growth of the market. Additionally, the implementation of favorable fiscal policies and investments in food technology are contributing to the development of the market. However, challenges such as fluctuating commodity prices and changing consumer preferences are hindering the market growth. Moreover, the growing awareness of health and wellness among consumers is driving the demand for natural and organic spreads and sweeteners, creating opportunities for market players.

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.