Syrups and spreads are an essential ingredient in the breakfast menu of many leading Western countries. But with the advent of new health-conscious lifestyles, consumers have started replacing sugar with healthier alternatives. Peanut butter contains less palm oil and more protein than honey. In addition, the range of flavored spreads on the market has expanded beyond jams and jellies to include chocolate spreads and nut-based varieties. And with the introduction of new flavors, manufacturers have been able to offer their consumers a variety of choices at affordable prices.
In addition to the rise in demand for flavored spreads and syrups, the global market for these products is growing. Increasing popularity of mocktails and trendy foods are driving global sales. Chocolate syrups are especially popular, as consumers are increasingly opting for chocolate flavoring in food and beverages. In addition to chocolate syrups, caramel syrups are a major contributor to global market growth.
The market for jams and spreads is highly diverse, and is driven by several factors.
For example, Europe has the largest share of the global market for jams and spreads, and desserts and bakery products are among the most popular. North America, meanwhile, is the second largest market, with consumers primarily preferring fast foods and nut-based spreads over other types. And in terms of growth, Asia-Pacific is on track to grow at the fastest rate.
In addition to these drivers, the Covid-19 pandemic had a significant impact on the food and beverage industry. It impacted the hospitality industry, disrupting supply chains across various industries. And as a result, consumers began to eat at home more often. Outdoor restaurants were closed and many people started relying on food delivery services. And in many cases, this has led to a significant increase in the at-home coffee market.
The French Syrups and Spreads market is highly fragmented, with segments defined by type, flavor, distribution channel, and consumer age. Females eat more than males, and the market is dominated by females. Females consume more than males, accounting for 50% of the market in value. And their consumption of jams and spreads is disproportionate to that of their male counterparts.
The global market for syrups and spreads is highly fragmented and competitive, with several multinational and domestic companies competing for share of this lucrative market. Major players in the sector include Nestle SA, Conagra Brands Inc., Hershey Company, and J.M. Smucker Company. While these players have established global presences, they also extend their product lines and cater to different consumer needs in different regions.
Starbucks was one of the first coffee chains to introduce the beverage industry to syrups.
By the early 21st century, the coffee syrup category grew substantially in popularity. This was partly due to the global coffee chains that have introduced new drinking habits and highly customizable menus. However, global chains and independent coffee shops continue to play an important role in this market. While independent coffee shops promote innovation, big chains drive global scalability.