Honey and peanut butter are products with limited means for product reformulation, and both will face the same problems going forward, which amplified in the post-pandemic world. With no visible solution to the dwindling number of honey bees, and no clear means to synthesise honey efficiently and cheaply, prices will become increasingly prohibitive for many consumers.
A consumer base increasingly interested in culinary experimentation has looked to savoury and sweet condiments for inspiration. The novelty of hot honey, a spicy, cayenne-infused form of the sweet staple, has led to retail offerings and expanded out of its isolated application in pizza-focused foodservice to find relevance at home in everything from barbecued meat to oatmeal to tea.
Even as The JM Smucker Co works to address federal inquiries into its manufacturing practices, consumer sentiment does not appear unduly affected, and neither are their purchasing habits. Promotional activity will continue to be what persuades consumers as they work to keep food in their pantries.
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Understand the latest market trends and future growth opportunities for the Sweet Spreads industry in USA with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Excludes: Any products sold unpackaged or in bulk; margarine, butter substitutes, vegetable-oil based, yeast-based, and meat/seafood-based spreads.
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