Sweet spreads is expected to record a slightly slower retail volume CAGR over the forecast period than that registered over the review period, during which retail sales benefited from the shift away from foodservice resulting from COVID-19 related restrictions and consumers’ homebound lifestyles. The slowdown in forecast period growth will also be due to the gradual shift back to foodservice channels as consumers are likely to return to going out again, leading to fewer meal occasions at home and lower demand for different packaged food products used for preparing meals at home, including sweet spreads products, which are often used during breakfast or snack time.
Chocolate spreads is expected to record the fastest retail volume growth over the forecast period largely as a result of its versatility, with such products used not only with baked goods but also with pancakes, as a topping for cupcakes, and so on. In this light, chocolate spreads may benefit from the enduring impact of the rise in home baking that began when consumers were confined to their homes during the COVID-19 crisis.
Honey is the smallest category in sweet spreads. The category’s small size is the main reason that it is expected to record the second fastest retail volume CAGR over the forecast period, as it has more room for expansion than other categories and is proceeding from a lower base.
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Understand the latest market trends and future growth opportunities for the Sweet Spreads industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Sweet Spreads industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Excludes: Any products sold unpackaged or in bulk; margarine, butter substitutes, vegetable-oil based, yeast-based, and meat/seafood-based spreads.
See All of Our DefinitionsThis report originates from Passport, our Sweet Spreads research and analysis database.
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