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The spelt market is projected to grow by USD 15.29 billion with a CAGR of 4.75% during the forecast period 2021 to 2026.
This spelt market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers spelt market segmentation by product (conventional spelt and organic spelt) and geography (Europe, North America, APAC, South America, and the Middle East and Africa). The spelt market report also offers information on several market vendors, including Archer Daniels Midland Co., Ardent Mills LLC, Bunge Ltd., Cargill Inc., CHS Inc., Doves Farm Foods Ltd. Co., Goodman Fielder Pty Ltd., Hormel Foods Corp., JBS SA, Kerry Group Plc, Marico Ltd., Nestle SA, PepsiCo Inc., Sharpham Park, Sysco Corp., The Hain Celestial Group Inc., Tyson Foods Inc., and Marubeni Corp. among others.
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Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends and challenges for spelt market. In the COVID-19 pandemic, the demand in the spelt market has been impacted significantly. A holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain a competitive advantage.
Key Spelt Market Driver
Change in food preferences among consumers is one of the factors driving the spelt market growth. Consumers select food items based on the ingredients and taste preferences. This is positively influencing the market as consumers are willing to try different grains like spelt. In most countries, consumers generally use grains like wheat, rice, barley, and others; and changes in food preference will motivate them to use spelt. Therefore, the change in food preferences among consumers is driving the growth of the market.
Key Spelt Market Trend
The growing adoption of e-commerce channels is one of the key spelt market trends fueling the market growth. The most common distribution formats for spelt products are supermarkets and hypermarkets, convenience stores, and discount stores. Since the outbreak of COVID-19 in 2020, there has been an increasing popularity of online shopping among consumers. Online portals provide an easy and convenient method of shopping, and also, consumers can get a wide variety of products in one place in the comfort of their home. Thus, the growing adoption of e-commerce channels will increase the sales of spelt products during the forecast period.
Key Spelt Market Challenge
The shortage of spelt is one of the key factors challenging the spelt market growth. Supply is not keeping up with demand since consumer demand is rising. This is causing a number of issues, which are preventing the market from expanding. The shortage of spelt is a result of poor harvests. Moreover, the lack of availability of the required quantity of spelt to satisfy the demand is leading to an increase in its price, which affects the purchasing decision of customers. This reduces sales and shrinks the market size below its actual potential. Thus, such factors may hamper the growth of the market in the near future.
This spelt market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global spelt market as a part of the global packaged foods and meats market under the global food products segment of the global food, beverage, and tobacco market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the spelt market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the spelt market encompasses successful business strategies deployed by the key vendors. The spelt market is fragmented, and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The spelt market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the spelt market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market’s growth will originate from Europe during the forecast period. Germany, the UK, Italy, and Spain are the key markets for spelt market in Europe. Market growth in this region will be faster than the growth of the market in South America and North America.
The rising population of health-conscious consumers will facilitate the spelt market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 had a negative impact on the growth of the regional market. However, in the second half of 2020, restrictions on essential services were removed, which increased the regional sales of spelt products. Restoration of supply chain and logistics activities stabilized the growth of the market in 2021, and it will continue to be the same during the forecast period as well.
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The spelt market share growth by the conventional spelt segment will be significant during the forecast period. Considering the demand, spelt manufacturers are also introducing more products to their product lines. For instance, in June 2020, Sharpham Park launched its new non-organic stoneground spelt flour. To reach the ever-increasing number of home bakers in the UK, the company introduced this new line of products. Thus, all these factors will boost the growth of the conventional spelt segment of the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the spelt market size and actionable market insights on the post-COVID-19 impact on each segment.
Spelt Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.75% |
Market growth 2022-2026 |
$15.29 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.67 |
Regional analysis |
Europe, North America, APAC, South America, and the Middle East and Africa |
Performing market contribution |
Europe at 36% |
Key consumer countries |
US, Germany, UK, Italy, and Spain |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Archer Daniels Midland Co., Ardent Mills LLC, Bunge Ltd., Cargill Inc., CHS Inc., Doves Farm Foods Ltd. Co., Goodman Fielder Pty Ltd., Hormel Foods Corp., JBS SA, Kerry Group Plc, Marico Ltd., Nestle SA, PepsiCo Inc., Sharpham Park, Sysco Corp., The Hain Celestial Group Inc., Tyson Foods Inc., and Marubeni Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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