Market Insights Consumer Food Spreads & Sweeteners

Spreads - India

India

Revenue in the Spreads market amounts to €2,168.00m in 2024. The market is expected to grow annually by 6.66% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€17,660m in 2024).
In relation to total population figures, per person revenues of €1.50 are generated in 2024.
In the Spreads market, volume is expected to amount to 930.80m kg by 2029. The Spreads market is expected to show a volume growth of 2.1% in 2025.
The average volume per person in the Spreads market is expected to amount to 0.6kg in 2024.

Key regions: Canada, Philippines, China, Spain, India

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Spreads Market in India is experiencing minimal growth due to factors such as a shift towards healthier alternatives, increasing competition from other spreads sub-markets, and fluctuating consumer demand. Despite this, the convenience and variety offered by products in the Spreads & Sweeteners Market continue to drive overall market growth.

Customer preferences: As consumers become more health-conscious, there has been a rise in demand for healthier and more natural spreads and sweeteners in the Indian market. With a growing focus on clean eating and wellness, there has been a shift towards products that are free from artificial ingredients and preservatives. Additionally, there is a growing preference for locally sourced and ethically produced spreads and sweeteners, reflecting the increasing awareness and importance of sustainability and ethical consumption among Indian consumers.

Trends in the market: In India, the Spreads & Sweeteners Market within The Food market is experiencing a surge in demand for healthier and more natural products. This is driven by the increasing health consciousness among consumers and the growing trend of clean eating. As a result, there is a rise in the popularity of natural sweeteners like honey and maple syrup, as well as plant-based spreads like almond butter and coconut spreads. This trend is expected to continue, with the market projected to witness significant growth in the coming years. Industry stakeholders can capitalize on this trend by focusing on product innovation and marketing strategies that highlight the health benefits of their offerings. Additionally, the trend towards sustainability and ethical sourcing is also gaining momentum, which can present opportunities for companies to differentiate themselves and appeal to environmentally conscious consumers.

Local special circumstances: In India, the Spreads market is heavily influenced by the country's diverse culinary traditions and the growing health consciousness among consumers. The demand for healthier and organic spreads options has led to the development of unique local flavors and ingredients, such as turmeric and coconut, in the market. Moreover, the cultural significance of gifting sweets during festivals and celebrations has also contributed to the growth of the Spreads & Sweeteners Market in India. Additionally, the government's regulations on food labeling and packaging have played a crucial role in shaping consumer preferences and driving innovation in the market.

Underlying macroeconomic factors: The Spreads & Sweeteners Market within The Food market in India is greatly influenced by macroeconomic factors such as GDP growth, consumer purchasing power, and government policies. The country's strong economic growth has resulted in a rise in disposable income and consumer spending, driving the demand for spreads and sweeteners. Additionally, favorable government policies promoting the food processing industry and investments in modernizing agricultural practices have led to a significant increase in domestic production of these products. Moreover, the increasing health consciousness among consumers and the growing trend of using natural and healthier alternatives in food products are further boosting the growth of the spreads and sweeteners market in India.

Methodology

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.