Dynamic consumer tastes and preferences have kept leading food brands on their toes. As competition intensifies, these companies are meted with the task of innovating ideas to retain existing customers and woo prospective buyers. Against this backdrop, the food industry has witnessed the launch of a multitude of food products, sauces, and condiments as the leading companies vie for the top spot, finds Transparency Market Research (TMR) in a new study. As per its report, titled “Cookie Butter Spread Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” the market players will tap into the demand for alternative spreads with low sugar content. Given the scenario, the demand for cookie butter spread is expected to rise considerably in the forthcoming years.
Besides strategies undertaken by the market players, the changing food habits in consumers is attributable to the rise in demand for cookie butter spread. The expanding demography of health conscious customers is forecast to create lucrative prospects for the market’s growth. Cookie butter is rising in popularity as an alternative for available spreads such as chocolate, peanut butter, and hazelnut spread. As per the report, the demand for cookie butter spread is expected to rise considerably across bakeries and confectionaries worldwide. Besides this, its use in ice-creams and other dips is likely to increase further in the coming years.
For the purpose of in-depth study, the global cookie butter spread market can be segmented based on various parameters. For instance, in terms of application, the market can be classified into industrial, commercial, and household applications. The industrial segment can be further sub-categorized into spreads and dips, ice-cream and dairy, bakery products, desserts, and others. The commercial segment of the market includes restaurant and cafes, institutional foods, and hotels. Based on sales channel, the cookie butter market can be segmented into direct sales channel and indirect sales channel.
Regionally, Asia Pacific, Latin America, North America, Europe, and the Middle East and Africa are the key segments in the global cookie butter spread market. Among these regions, North America and Europe are expected to show the highest demand for cookie butter. These regions exhibit exponentially high demand for convenience food products. This factor chiefly aids the expansion of the cookie butter spread market in Europe and North America. Overall, the market is expected to gain from the rising demand for organic flavors and food products worldwide. Meanwhile, the market in Asia Pacific is yet to be capitalized on. Limited awareness about cookie butter spread and nutritional benefits it offers are limiting scope for the market’s expansion in Asia Pacific.
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Some of the leading players operating in the global cookie butter spread market are Tumbador Chocolate, Lotus Bakeries, Krüger GmbH & Co. KG., Natural Nectar, American Roland Food Corp., and Trader Joe’s.