The global hazelnut chocolate spread market size was estimated at USD 5.22 billion in 2023 and is expected to grow at a CAGR of 5.4% from 2024 to 2030. One of the primary drivers of the market is the rising consumer demand for premium and indulgent food products. As disposable incomes increase globally, consumers are more willing to spend on products perceived as luxurious treats. Hazelnut chocolate spread, often associated with comfort and indulgence, fits this trend perfectly. Alongside indulgence, there is a growing trend towards health-conscious eating. Consumers are increasingly seeking healthier alternatives to traditional spreads, leading to a demand for organic hazelnut chocolate spreads that contain reduced sugar and fat content. Hazelnuts are considered a nutritious ingredient, rich in protein, fiber, and healthy fats, further enhancing the appeal of these spreads among health-conscious consumers. This shift towards healthier options allows manufacturers to innovate and cater to diverse dietary preferences.
Packaging Insights
Packaging in jars held a market share of over 35% in 2023. Jars are the dominant packaging format for chocolate hazelnut spreads, having a significant market share due to several factors. They are typically made of glass or plastic, providing a sturdy and visually appealing option for consumers. Glass jars are favored for their premium feel and ability to preserve the quality of the product. They offer a longer shelf life and protect the contents from external contaminants, crucial for maintaining freshness and flavor. For example, Amul's Chocolate Spread Hazelnut comes in a clear plastic jar, showcasing its rich color and texture while ensuring easy visibility for consumers. The smooth and creamy consistency of spreads in jars makes them easy to use, allowing consumers to effortlessly spread the product on various foods like bread or pancakes.
Distribution Insights
Supermarkets and hypermarkets were essential distribution channels for the hazelnut chocolate spread industry and are expected to be valued at USD 1.98 billion in 2023. This growth can be primarily attributed to shifts in consumer lifestyles and urbanization trends, which have increased the demand for convenient shopping experiences. As urban populations grow, consumers seek one-stop shopping solutions that offer various products under one roof. Integrating e-commerce into traditional supermarket models has also played a crucial role in this growth, allowing consumers to enjoy the benefits of online and in-store shopping.
Regional Insights
The North America hazelnut chocolate spread market led the largest share of 42.0% in 2023. The growth of the chocolate hazelnut spread market in North America is primarily driven by rising disposable incomes and shifting consumer preferences towards premium and organic products. As consumers become more health-conscious, there is an increasing demand for spreads made with natural ingredients and lower sugar content, which aligns with the trend toward healthier eating habits. The widespread availability of chocolate hazelnut spreads in supermarkets and hypermarkets enhances consumer accessibility, while effective marketing strategies, including social media promotions, further boost brand visibility.