Consumers in India accept new product varieties in spreads with the launch of products such as almond and cashew nut and seed based spreads, while strawberry, blueberry and cranberry flavours have become popular in jams. These products are perceived to be healthier as they are made of actual fruits, nuts and seeds while competing strongly against spreads made of butter and margarine which contain high amounts of fat.
Dabur India Ltd continued to be the leader in spreads in India in 2017, through its Dabur Honey brand. The company accounted for 26% of retail value sales of spreads in 2017, and a 44% share in honey. In jams and preserves, Kissan is the leading brand with a 65% retail value share. Dabur Honey and Kissan enjoy strong brand recall, and due to their presence for many decades have a strong foothold in their respective subcategories in India.
Spreads is expected to register a CAGR of 7% at constant 2017 prices over the forecast period to reach INR23.7 billion by 2022. Nut and seed based spreads made of peanuts, almonds and cashew, jams and preserves made of strawberry and cranberry, and chocolate based spreads are expected to drive the growth of spreads over the forecast period. Since many of these products are newly launched, made from organic raw materials, offer exotic flavours, and contain health and wellness benefits, consumers will be keen to try such products more in the future.
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This industry report originates from Passport, our Packaged Food market research database.