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Chocolate Hazelnut Spread Market: Introduction

The chocolate hazelnut spread is a sweet chocolate flavored paste which is mostly spread on toasts, bread, doughnuts, pancakes and other similar grain products. The spread usually contains cocoa, hazelnut, sugar and palm or vegetable oil and sometimes also contain butter, milk, and additional flavors. The chocolate hazelnut spreads and peanut butter are slowly replacing the jam and marmalade as the most popular breakfast spreads due to its higher palatability. Hence, there is significant growth in the sales of chocolate hazelnut spreads in the past few years. The chocolate hazelnut spread is becoming an integral part of every breakfast. Manufacturers are also offering low calorie, gluten free and reduced fat chocolate hazelnut spread to cater increasing demand from health consciousness people especially in the developed markets. Moreover, new brands are providing stiff competition to already established brands by applying key driving factors such as continuous product innovation. Apart from using it as spreads, chocolate hazelnut spread can also be used as ice cream topping, to spread over croissants, to make instant hot chocolate, added to any dessert for a gourmet touch and much more.

Chocolate Hazelnut Spread Market:  Segmentation

The chocolate hazelnut spread market can be segmented by source, packaging type, distribution channel, and region. On the basis of source, the chocolate hazelnut spread market can be segmented into organic and conventional. On the basis of packaging type, the chocolate hazelnut spread market can be segmented into bottles, pouches, cups, and others.  On the basis of a distribution channel, the chocolate hazelnut spread market can be segmented into direct sales and indirect sales. The indirect sales market can be further sub-segmented into the specialty stores, hypermarket/supermarket, convenience stores, online retailers and others.

Chocolate Hazelnut Spread Market: Dynamics       

Owing to rapid urbanization globally, lifestyle of people is becoming increasingly hectic which have resulted in shortage of time for cooking thus people are preferring ready-to-eat and ready-to-cook food products which promotes the usage of readymade spreads hence driving the growth of hazelnut spread over the forecast period. Another factor towards the growth of chocolate hazelnut spread market is the availability of organic, low fat, low sugar and gluten free hazelnut spread products in the market to cater the demand for health conscious consumer. Moreover, owing to the availability of healthier variants of hazelnut spreads, old age groups are also preferring the chocolate hazelnut spread while earlier only children and young people were the key consumers segment of chocolate hazelnut spread. However, the fluctuating prices of raw materials such as cocoa and sugar and the instability of its supply is expected to hamper the chocolate hazelnut spread market growth in the near future. In addition, the decline in the sales of bakery products like bread, toast etc., and growing popularity of cereals is anticipated to be a key restraining factor for the growth of the global chocolate hazelnut spread market. 

Chocolate Hazelnut Spread Market: Regional Outlook

On the basis of the regional outlook, chocolate hazelnut spread market is segmented into five different regions: North America, Latin America, Europe, Middle East and Africa and Asia Pacific. North America and Europe is expected to dominate the chocolate hazelnut spread market over the forecast period owing high consumer awareness, high shelf visibility of the product in the retail chains and growing consumer preference for chocolate hazelnut spreads over other alternatives. APAC region is anticipated to exhibit significant growth rate over the forecast period owing to increasing preference of chocolate hazelnut spread due to its delectable taste and increasing urban population coupled with increasing per capita expenditure on ready to eat food products.

Chocolate Hazelnut Spread Market: Key Player:

Some of the major players operating in chocolate hazelnut spread market include Barefoot & Chocolate, Rigoni di Asiago, Dr. Oetker India Pvt. Ltd., Young's (Private) Limited., Andros SAS, Date Lady, Flourish, Ferrero SpA, The Hershey Company, Hormel Foods Corporation, The J.M. Smucker Company and other regional players.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Chocolate Hazelnut Spread Market

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