The retail volume decline in sweet spreads in 2023 is likely to be only temporary, with a return to solid growth expected throughout the forecast period, along with dynamic current value growth. Recovery of the category is expected as global and local wheat prices stabilise.
The wide range of products offered by private label, along with affordable pricing, will continue to increase the competition for branded products in the forecast period. In a difficult economic environment, consumers are likely to prioritise price over brand loyalty when choosing sweet spreads, which will bode well for private label products, which typically compete with branded products on price.
The pandemic pushed health and wellness to the forefront, and this is expected to remain top-of-mind for consumers over the forecast period. South Africans are moving away from fad diets, and are looking to adopt a more balanced approach to healthy living, which is expected to drive increased demand for healthier alternatives amongst health-conscious consumers.
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Understand the latest market trends and future growth opportunities for the Sweet Spreads industry in South Africa 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 South Africa, 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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