Market Trends of Europe Nut-Based Spreads Industry
This section covers the major market trends shaping the Europe Nut-Based Spreads Market according to our research experts:
Inclination Towards Plant-based Food Products
The market for nut-based spreads in Europe is expanding more rapidly as a result of consumer demand for plant-based food products. Nut-based spreads contain vital elements including healthy fat, vitamins, minerals, phytochemicals, and antioxidants that support the maintenance of healthy cells for improved immune health. Adding on, fitness/weight-loss-oriented consumers along with the vegan population perceive nuts as a great protein alternative creating a huge opportunity for almond spreads, hazelnut spreads, and peanut butter as they are more convenient and versatile over dairy-based spreads. As a result, new entrants are concentrating on launching an innovative range of food spreads infused with healthy ingredients to capture consumer interest. For instance, in April 2022, the UK-based startup company Nuccy launched a new range of nut-based butter, featuring Ashwagandha in each of three flavors including Almond Coco, Peanut Coco, and Hazel Coco. Further, the company claims that the butter range is naturally vegan, sugar-free, and palm oil free.
United Kingdom Dominates the Europe Nut-Based Spreads Market
Nut-based spread is increasingly accepted by the U.K.'s population as an on-the-go convenience option as bread is a staple food throughout the country, usually consumed along with spreads such as jams, butter, etc. The natural and healthy appeal of nut-based spreads has bolstered the segment's growth in the country. Moreover, this trend has led to a higher consumer acceptance of different formats where products are even inclusive of seeds to boost products' health profiles. Innovations in the UK market are inclusive of flavors, such as salt, and spicy, and seeds, such as sunflower, chia, pumpkin, and linseed, to develop a crunchy profile. The continuous demand within the nut butter category has led to the emergence of new players having a list of diversified offerings and products that are appealing to consumers on a new level of health, convenience, and sustainability. For instance, Meridian Foods claims to be the first UK nut butter brand to launch a line with 100% nuts, no palm oil, sweeteners, or salt. The company at present offers 6 nut varieties, from traditional 'Peanut', all the way to 'Peanut & Berry' and 'Cashew', while considering these innovations as important differentiators in an increasingly saturated market.
