(Entertainment-NewsWire.com, November 03, 2017 ) Europe Nut based spreads Market was worth USD 1.53 billion in 2016 and estimated to be growing at a CAGR of 7.2%, to reach USD 2.16 billion by 2021. Peanut butter has led the way for other nut-based spreads like almond, cashew, macadamia nut, coconut and walnut to enter the industry and offer a wider variety of spreads for consumers.
Around 7.7% of consumers have switched from jam to peanut butter. The nut spread sales is largely dependent on the sales of bread. Peanut butter and chocolate spreads are displacing jam and marmalade as the most popular breakfast spreads.
The Europe Nut based spreads market is driven by the rising consumer preference to replace jams by nut based spreads. The rising health consciousness among consumers has further given way to low calorie spreads. The latest trend of food spreads becoming an integral part of every breakfast has led to a steady growth of the market.
The Europe Nut based spreads market is segmented on the basis of product type and by region. On the basis of product type, the market is segmented into peanut based spreads, almond based spreads, walnut based spreads, cashews based spreads and others. The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. As of 2016, Europe holds the second position in the global market share analysis. The rapid growth in consumption is set to further boost the market growth in Europe.
The major players operating in the Europe nut based spreads market include J.M. Smucker, Kraft Foods, Unilever Group, ConAgra foods Inc., Sioux Honey Association, B & G Foods, Ferrero Group, Nestle, Hershey Co and Welch Foods Inc.
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