Reportstack has announced a new market report on The US Syrups and Spreads Market: What Consumers Eat and Why which provides the results for the Syrups and Spreads market in the US from highly detailed study of consumers' Consumer Packaged Goods (CPG) consumption habits, and forms part of an overall series covering all CPG product markets. Its coverage includes, but is not limited to, consumption behaviors, the extent to which consumer trends influence their consumption, the value of the market these trends influence, and brand and private label choices as well as retailer choices. Much of this information can also be analyzed by specific consumer groups, providing hard and fast data on consumers and markets at the product category level.
Marketers in the Syrups and Spreads market in the US face a major challenge. Understanding market size and segmentation is valuable, but the key to effective targeting is knowing just how valuable specific consumer groups are, and to be able to quantify the impact of consumer trends. This data report solves these problems by providing integrated survey-based data on consumer trends and consumer groups, and market data that shows the exact size of consumer groups, how much of the Syrups and Spreads market they account for, and which consumer trends drive their behavior. Varying consumption patterns by age and the continued focus on health issues present a challenging market. Marketers need to be aware of which consumers are driving sales and which consumer trends are most important in the overall market in order to maximize future growth potential.
Consumers' uptake of products and the influence of consumer trends are fundamental causes of change in markets - making knowing what these trends are and the extent of their influence crucial. The survey-based data provided in this report examines over 20 consumer trends that affect the market and examines the share of consumption across 26 consumer groups. This data provides a detailed insight into exactly who the consumer is and just how much impact the latest consumer trends are having.The data provided is unique in the market as it tracks consumer behavior through to its actual value impact on a product market. This provides readers with a unique data analysis of the market, allowing marketing tactics and strategy to be updated in line with the very latest consumer behaviors.
Key Features and Benefits
Consumer data, based upon proprietary surveys and then consumer group tracking and modeling for the following specific categories: Jams, Jellies and Preserves, Molasses, Savory Spreads, Sweet Spreads, and Syrups.
Detailed consumer segmentation covering over 26 consumer groups, 20 consumer trends, and consumption frequency for each product category.
Consumer penetration for brands and private labels, based upon the original survey and then subsequent consumer tracking and modeling.
Unique retailer choice data at the product category level, based upon the original survey and then subsequent consumer tracking and modeling.
Key Market Issues
Savory Spreads and Molasses have a total value share of less than 3% of the overall Syrups and Spreads market in the US. Any changes that can be made to increase consumption will have little impact on market value. In order to significantly improve this situation marketers will have to change their habits, which will be very difficult.
Almost two-thirds of the value of the US Syrups and Spreads market is due to Sweet Spreads; however, this category does not have a particularly high consumer base. The proportion of consumers of Sweet Spreads across age groups varies from just over 50% to just lower than 35%. Marketers need to focus on this market as there is plenty of room for it to grow within the US population and any changes in consumption will have a large effect on market value.
Older Consumers are responsible for almost a quarter of the value of the Syrups and Spreads market in the US. Marketers need to be aware of this and also need to encourage younger consumers so that they do not lose this market value as their Older Consumers age.
Key Highlights
Branded products represent a significant proportion of the Syrups and Spreads market in the US; the maximum share for Private label is 20%. Private Label products are not as common in the US as some other Western economies and have further room to grow as a result. Marketers of national brands need to differentiate themselves in order to maintain their market value shares and defend their positions as a result.
The US population is split fairly evenly between Males and Females; however, the ratio of Male to Female Syrups and Spreads consumers is skewed towards Males. The category with the largest Male consumption proportion is Jams, Jellies and Preserves where the value proportion of the market for Males is more than 13% larger than it is for Females.
A significant “attitude-behavior” gap exists between the share of consumers citing that a trend affects their consumption and the actual share of the market value these trends influence. This is because consumers don't always act on these trends - the result is that overall trend influence is limited, making it essential that marketers assess carefully whether the trends are large enough to warrant specific targeting.
The Companies Mentioned in this report are Costco, Kroger, Publix, Safeway, Walmart.
To view the table of contents and know more details please visit The US Syrups and Spreads Market: What Consumers Eat and Why report.
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