Thanks to its strength in the North American market, where it is a leading player in a number of categories, including ready meals, pickled products and tomato pastes and purées, ConAgra is a top 10 player in cooking ingredients and meals globally. Although it is very heavily exposed to its reliance on a single regional market, ConAgra is expected to continue growing, given the expertise it has within the areas that it operates

Unilever is the number two player in global cooking ingredients and meals, mainly thanks to its leadership of the sauces, dips and condiments category, although it also has a significant presence in meals and soups. Unilever continued to close the gap on leading player Kraft Heinz in 2024, with expectations that it could even overtake it in the coming years.

Sweet spreads in India is expected to maintain solid retail volume growth and dynamic, double-digit retail current value growth in 2024. Although increases are expected across all categories, nut and seed based spreads is expected to see the strongest growth rates, whilst honey is set to continue to account for the dominant share of sales. Sweet spreads are increasingly often consumed for breakfast in India. The traditional Indian breakfast landscape is witnessing a shift, with more individuals

Sweet spreads registered modest volume growth in Algeria in 2024. While inflation eased, it was still high, and this dampened volume growth to an extent. Jam and preserves continued to account for the majority of value sales, with value sales being significantly less for both chocolate spreads and honey. Value sales continued to be negligible for nut and seed based spreads.

In 2024, retail sales of sweet spreads in Thailand are set to experience continued volume and current value growth. Value growth is set to be much stronger, largely driven by ongoing unit price increases due to fluctuations in sugar prices. However, growth rates are expected to slow compared with 2023. As consumers become more cautious about their spending, particularly on non-essential items, sweet spreads is facing more of a challenge. In response, brands have been adjusting their pricing stra

Sales of sweet spreads in Vietnam are led by the key categories of jams and preserves and honey, which account for the bulk of total volume sales. Despite facing challenges, largely driven by the looming economic uncertainty, sweet spreads in Vietnam is set to exhibit modest total volume growth in 2024. However, due to global conditions consumers have become more cautious with their spending, which is expected to prevent stronger growth. This shift in behaviour means that consumers are increasin

The market for sweet spreads in Indonesia registered moderate growth in retail volume terms in Indonesia 2024, despite unit price growth accelerating during the year. One of the main drivers behind this price increase was the rising costs of raw materials, such as sugar and cocoa, due to global supply chain disruptions and adverse weather conditions affecting crop yields in major exporting countries. Additionally, reforms in Indonesia’s energy subsidy programmes led to higher costs for fuel and

Despite facing several challenges, sweet spreads registered positive performance in Switzerland in 2024, led by jams and preserves, which offer a tasty, convenient, affordable snack or meal option when combined with, for example, toast.

Sweet spreads in Israel experienced significant price rises in 2024 continuing the upward trend in the previous year. Cocoa prices have increased significantly over the past year, which has directly impacted on prices of chocolate spreads. Overall retail volume sales have declined as locals are put off by higher prices and reduced consumption of chocolate spreads. Discounters have taken a larger share of value sales in 2024 as consumers remain price sensitive and seek cheaper goods.

Sweet spreads is experiencing high price increases across the board in 2024 due to the rising cost of raw materials, including cocoa, fruit and nuts, as well as production and distribution costs. In response, consumers are increasingly opting for illicit products, such as Nutella which is sold in traditional grocery retailers, from Libya and Algeria. There is also growing demand for more affordable chocolate spread alternatives, which are typically made from palm and kernel oils. In addition, sm

Overall, sweet spreads is expected to register both healthy constant value and volume growth, as inflation eases. Honey continues to account for most value sales, though nut and seed based spreads are expected to register the highest volume growth, though from a low base. There is also growing offerings of small sized portions. This can mean less of a financial outlay for consumers at any one time.

In 2024, sweet spreads in Nigeria experienced a decline in volume sales, primarily due to inflationary pressures that eroded consumer purchasing power. These products remain niche, with most Nigerian households perceiving them as non-essential compared to margarine, the dominant bread spread. Furthermore, the depreciation of the naira has significantly driven up unit prices, especially for imported brands, leading to a reduction in overall consumption.

Consumers are highly price sensitive in the sweet spreads category in 2024, resulting in increased demand for affordable alternatives. Players have responded by introducing budget-friendly options and smaller pack sizes. For instance, products like DairyLand chocolate spread and Blueband Choco are now available in smaller pack sizes, making them more affordable for consumers amid inflation.

The cost of living in Cameroon continues to exert pressure on consumer purchasing decisions, with affordability emerging as the primary driver of demand in sweet spreads. Unit price increases across various segments have been driven by escalating raw material costs. For instance, raw cacao beans, critical to chocolate spreads, reached record prices of XAF4,200/kg in early 2024. Similarly, while the prices of fruits and vegetables – a key input for jams and preserves – declined modestly in the fi

Overall, sweet spreads in Bosnia and Herzegovina is expected to register moderate constant value growth in 2024, with inflation easing considerably. Volume growth, on the other hand, is expected to be marginal, as population decline continues. While chocolate spreads continue to account for most value sales, followed by jams and preserves, chocolate spreads is expected to see volume sales fall. Chocolate spreads is a mature product area, with little room for growth. In addition, concerns about t

Sweet spreads in Morocco has reflected the increasing price sensitivity of consumers in 2024, with distinct shifts in consumption patterns. Jams and chocolate spreads have experienced negative growth as consumers move towards healthier and more traditional alternatives like olive oil, honey, and argan oil, especially for breakfast. Rising unit prices, particularly in chocolate spreads, have exacerbated the decline in demand for indulgent products, which are perceived as non-essential by a signif

Brazil has seen a macroeconomic scenario with a mix of both positive and challenging factors in 2023 and 2024. Robust economic growth has been witnessed in the country, driven by a strong labour market and fiscal transfers. However, consumers and businesses have seen significant challenges from inflationary pressures and rising interest rates. For this reason, many Brazilians have been more cautious in their approach to spending, becoming increasingly price-conscious, and shifting their preferen

In 2024, sweet spreads in Japan is facing a further downturn in retail volume sales, due to population decline and price increases. Despite rising prices, these increases are not expected to be sufficient to offset the negative impact on retail volume sales, which is set to result in a slight decrease even in retail current value terms. Amongst the various categories within sweet spreads, honey and chocolate spreads are expected to experience particularly steep price rises. Both categories are h

Retail value sales of sweet spreads are expected to decline in Malaysia in 2024. The unit selling price has continued to grow for all sweet spreads, albeit more slowly than in the previous year, due to price hikes for raw materials (including raw honey, fresh fruits, and cocoa), packaging and transportation. This has served to dampen willingness to spend on sweet spreads amongst budget conscious consumers. Consumers have been withdrawing retirement savings, mainly for spending on essential produ

Sweet spreads in North Macedonia is poised to register robust growth in current value terms in 2024. However, this is mainly due to price hikes imposed to offset still-elevated inflationary pressures, as retail volume sales are set to contract for the second year in a row. Given the non-essential nature of these products, falling demand is partly explained by the fact that many people remain cautious in their spending habits following the dramatic surge in the cost of living towards the end of t

Sweet spreads in Slovenia is expected to register moderate current value growth and minimal volume growth in 2024. Honey continues to account for most value sales, followed by chocolate spreads, jams and preserves and nuts and seeds spreads. As outlined below, nut and seed spreads is expected to be the strongest performer. In terms of volume growth, jams and preserves comes in second and there is a focus on lowering sugar content and also use of natural sweeteners such as stevia. Also, in 2024,

After a slight contraction in retail volume sales in 2023, the sweet spreads category is expected to rebound in 2024. In 2023, the decline was mainly attributable to a rise in the number of Uruguayans crossing the border into Argentina in order to buy everyday consumer products, including jams and preserves, at a cheaper price than in Uruguay. However, in December 2024, Javier Milei was elected president in Argentina and devaluated the exchange rate, discouraging cross-border shopping due to sha

Jams in Uzbekistan has been facing stagnation in 2024, as local consumers continue to favour fresh fruit over preserved jams and spreads. Despite the presence of multiple producers offering a range of traditional flavours such as apricot, quince, raspberry, and cherry, consumer interest remains limited, with sales failing to show significant growth. This is partly due to the standardised nature of flavours available, which does not offer the variety that might attract more consumers seeking nove

Although the growth of sweet spreads remains moderate, the category exhibits notable stability within Latvia in 2024. This steady performance is supported by a diverse range of offerings from local, regional, and international brands, which collectively contribute to a highly competitive market landscape. Intense promotional activity characterises the sector, with discounts and price incentives playing a critical role in maintaining consumer interest amidst economic pressures. The presence of we